Servicing

Thanks to a $1.3 billion check from Bank of America, Fannie Mae reported positive net operating earnings of $73 million for the fourth quarter — its first such profit since 2007.

Mortgage delinquencies have probably peaked, but not foreclosures, two economists said at the Midwinter Housing Conference in Park City, Utah, earlier this month.

Kondaur Capital Corp., one of the better-known names in the nonperforming loan space, recently lopped off almost 40% of its staff, after complaining about a lack of available product to buy—which raises an obvious question: There aren't enough delinquent mortgages out there?

United Guaranty Corp., the mortgage insurance subsidiary of American International Group, posted operating income of $154 million for the fourth quarter, compared to a $241 million loss in the year ago period.

WASHINGTON — Bank regulators, law enforcement and various other federal and state officials continue to negotiate the proper punishment for more than a dozen large servicers that have mistreated mortgage borrowers.

Government controlled mortgage giant Freddie Mac posted a meager $113 million net loss in the fourth quarter — but actually earned $1.2 billion before having to pay the U.S. Treasury a hefty $1.6 billion dividend payment.

Mortgage bankers originated $23.1 billion of Federal Housing Administration-backed loans in January, a 12.5% decline from the prior month, according to new figures released Thursday.

More than 71% of short sales can take four to nine months to complete — and almost 10% of these transactions require at least 10 months, according to new survey figures released by Equi-Trax Asset Solutions.

Securitized hospitality loan delinquencies have been the highest in the CMBS market and tend to be the most volatile but one advisor, Mission Capital principal David Tobin, sees relatively improvement in them.

Mortgage Industry Advisory Corp. this week sold a $527 million package of bulk servicing rights tied to Government National Mortgage Association loans.