Servicing

The nation's top three ranked mortgage bankers are marking down the asset value of their servicing portfolios faster than their receivables are running off, according to figures compiled by National Mortgage News.

When the Federal Housing Finance Agency announced its interest in overhauling how servicers are paid, it didn't provide much in the way of public detail.

Big banks and Washington aren't on the same page—again.

Redwood Trust, the only firm to dip its toe back into the jumbo MBS market, earned $15 million in the fourth quarter, a 63% decline from the same period a year earlier.

The Obama Administration is willing to start the process of winding down Fannie Mae and Freddie Mac, but it must be done gradually over as many as five to seven years to prevent disruptions to the mortgage market and the economic recovery, according to a high ranking Treasury Department official.

Real estate valuation provider PCV Murcor has hit its 30-year anniversary.

SunTrust Banks Inc. is refiling documents in thousands of foreclosure cases after an internal review revealed problems in the way foreclosure proceedings were handled.

Carrington Capital Management, a former subprime securitization specialist, salvaged an impressive amount of money from its low-ranked residential mortgage-backed securities, thanks to the unusual strategies of its servicing affiliate.

Fannie Mae purchased $73.8 billion worth of mortgages from its seller/servicers during January, its weakest acquisition month since August of last year when refinancings were booming, according to figures released Monday morning.

Private mortgage insurers produced $6.4 billion in new insurance written in January, down $2 billion from December's $8.4 billion, but an improvement over the $4.2 billion written in January 2010. This is according to data collected by the Mortgage Insurance Cos. of America.