Servicing

Single-family existing home sales rose 2.4% in January following a 12% jump in December, according to new figures compiled by the National Association of Realtors.

Though it's too early to declare that mortgage delinquencies are on the way down permanently, "We are seeing some bright spots," Anthony Renzi, Freddie Mac executive vice president of single family portfolio management, said during a press briefing at the Mortgage Bankers Association's servicing conference in Dallas Wednesday morning.

The Federal Housing Finance Agency Wednesday morning laid out its options for restructuring mortgage servicing compensation, including the possibility of eliminating the 25 basis point minimum paid on performing loans.

The State of Texas Real Estate Fund LP plans to raise $150 million to acquire commercial properties within the state.The fund, which was developed by long-time real estate investors Mark Jordan and Kevin White who will serve as its managing directors, will primarily target high quality distressed office, industrial and raw land in Austin, Dallas, Houston and San Antonio.

Thanks to lower interest rates, mortgage application volume rose 13% for the week ending February 18, according to new figures compiled by the Mortgage Bankers Association.

Yearend financial reports by several Federal Home Loan Banks show these "other" housing GSEs are returning to profitability, while experiencing a lower level of losses on their holdings of private-label mortgage-backed securities.

It appears that home values may have further to fall – a lot further, according to Yale economist Robert Shiller, whose name is attached to the Case-Shiller home price index.

Roughly 708 foreclosures and 3,370 housing 'short sales' are on the market in Orange County, Calif., accounting for 38% of available homes to purchase, according to figures compiled by Altera Real Estate.

Mortgage bankers that are members of the Lenders One cooperative funded $90 billion of single-family loans in 2010, a 17% jump from the prior year, and its best showing ever.

Wells Fargo & Co., which has emerged as a constant seller of delinquent mortgages, is offering roughly $350 million worth of whole loans, some of which are nonperforming, according to investment banking sources.