Servicing

Although executives at Fannie Mae and Freddie Mac would love to see their dividend payments to the U.S. Treasury cut in half, it's unlikely that it will happen, according to a new report from Keefe, Bruyette & Woods.

Three surviving spouses of reverse mortgage borrowers have sued HUD, alleging that what HUD characterized in 2008 as a clarification of its policy constituted a change from long-established federal rules that should have protected them from having to repay lost equity in order to stay in their homes.

Mortgage servicers may be wary of entering into a global settlement with the state attorneys general because whatever deal is struck between the two parties would not be binding on the Consumer Financial Protection Bureau.

Mortgage fraudster Michael McGrath, who siphoned off $140 million of credit union funds through his company, U.S. Mortgage Corp. and its CU National Mortgage affiliate, will serve at least 12 years of a 14-year prison term meted out by a federal judge two weeks ago, according to prosecutors.

Field Asset Services, a provider of field services including property preservation, maintenance and repair in the REO industry, is offering banks new inspections services to improve quality and performance for their REO properties.

Homebuyer traffic was up in February, as slowly rising mortgage rates have buyers aware that the time to lock in a near-historic low rate is now, according to a monthly survey of real estate agents.

DepotPoint Inc., a Web-based default management, short sale and REO solutions provider based in Bellevue, Wash., is allowing users of its TrackPoint technology platform an opportunity to perform code violation checks on their defaulted properties.

Green River Capital, along with its sister companies Infinity Valuation Services and Green River Financial, finished the fiscal year of 2010 by adding new clients and completing a SAS 70 Type II certification.

Nobility Homes Inc., a Florida-based company specializing in the design and production of quality, affordable manufactured homes, finished the fiscal year of 2010 with increased sales and improved losses from operation.

The beginning of 2011 is showing positive signs in California as pending home sales increased in January by 13.6% from the previous month with an index of 93.6, according to the California Association of Realtors.