Servicing

The housing sector has yet to recover from the financial crisis and it will take "several more years" to work with though all the foreclosures, according to Treasury secretary Timothy Geithner.

Owner-occupied, bank-owned properties, will continue to both open business opportunities and increase loss severity pressures on lender-servicers.

Banks are dealing with the vicious circle of finding the right balance between lack of liquidity that makes necessary both the discharge of nonperforming assets from their books and investments that make foreclosure sales possible.

Marketing bank owned properties is an even bigger challenge in times when according to consumer reports the average consumer is bombarded with up to 1000 advertisements on a daily basis.

The head of a county land registry in Massachusetts is requesting his office close its deposit account with Bank of America in protest of the bank's affiliation with MERSCorp Inc., which runs the Mortgage Electronic Registry Systems.

For thrifts that have long harbored ambitions of converting to commercial banks, an upcoming regulatory merger is forcing hard decisions.

Delinquency rates on closed-end home equity loans and home equity lines of credit showed little improvement in the fourth quarter compared to the third, according to new figures released by the American Bankers Association.

The number of completed foreclosures fell by nearly 50% from the third to the fourth quarters as servicers came under pressure from state and federal regulators to correct their foreclosures processes and agree to a civil settlement.

Elizabeth Warren, the Obama administration official in charge of setting up the Consumer Financial Protection Bureau, again defended her role in a pending settlement between several state and federal agencies and the top 5 mortgage servicers.

Fewer Americans claim they are having trouble paying their monthly mortgage, an improvement of seven percentage points over 2010, according to a Harris Poll taken in March.