Servicing

The seasonally adjusted application volume index fell by 7.7% from the previous week as mortgage rates shot up to their highest point since last spring because of stronger economic growth than anticipated, according to new figures released by the Mortgage Bankers Association.

A rated small-balance commercial mortgage-backed securities deal appears to be the first seen in some time.

McCalla Raymer LLC, Georgia’s largest provider of real restate and mortgage banking legal services, is expanding its services into the state of Florida.

The segment of Lender Processing Services that provides mortgage default, foreclosure and real estate owned services was the only area of the company to report declined annual review in 2010 compared to 2009. The company said ongoing delays in the foreclosure process are to blame and they expect the situation to continue in 2011, impacting potential revenue streams.

Despite projections from the Mortgage Bankers Association that the industry will face a difficult 2011, LeaderOne Financial is hopeful to have similar success this year that it accomplished in 2010.

Argent Management LLC, a provider of real estate services to institutional investors, private owners, developers, and financial institutions, has agreed to partner with Colony Capital, a global real estate investment and advisory firm, to manage $1.2 billion of land portfolios.

Banco Popular de Puerto Rico, the principal banking subsidiary of Popular Inc., signed a letter of intent to sell approximately $500 million of construction and commercial real estate loans.

Jacksonville Bancorp Inc., the bank holding company for The Jacksonville Bank, is anticipating an operating loss of $12 million to $14 million for 2010.

Even though at yearend moratoria and process reviews kept the volume of loans moving into foreclosure at bay, the December Lender Processing Services, Inc. Mortgage Monitor report shows that at a non-current loan rate of 12.98% the total number of delinquent loans and inventory remains at historical levels.

Commercial mortgage-backed securities could make a relative comeback this year. But issuance will likely still be a far cry from what it was at the height of this market.