Servicing

What will happen to all the problem real estate loans that have multiplied exponentially it seems, in the past few years? That’s a topic as hot as today’s headlines. We’ve just reported that Ally Financial sold off $596 million in nonperforming loans during the fourth quarter.

After receiving notice that he’s under investigation by the Securities and Exchange Commission, CoreLogic Chief Financial Officer Anthony "Buddy" Piszel resigned late Thursday.

Not only is the Obama Administration pledging to wind down Fannie Mae and Freddie Mac over the next seven years, but its new plan makes it clear that it will constrain the growth of the Federal Housing Administration's single-family loan program.

Increased oversight should help the Federal Housing Administration sell more repossessed homes quickly, and at the right price.

HSBC Holdings is currently reviewing a first round of bids taken on its $60 billion residential servicing portfolio, but has yet to make a decision on the sale, according to industry advisors familiar with the matter.

Freddie Mac chief operating officer Bruce Witherell abruptly announced his resignation from the company earlier this week, saying he was leaving for "personal reasons."

Private markets would be the primary source of mortgage credit going forward under the Obama Administration's plan to reform the housing finance system.

The delinquent loan inventory at two of the nation's largest private mortgage insurers continued to shrink in January, albeit by small amounts, according to data released by both companies.

The new chairman of the House GSE subcommittee is looking for "immediate steps" Congress can take to reign in Fannie Mae and Freddie Mae and reduce their role in the mortgage market.

The House Oversight and Investigations subcommittee next Tuesday will hold a hearing to examine the taxpayer-funded expenditure of legal fees incurred on behalf of former executives at Fannie Mae and Freddie Mac.