Servicing

The crisis has turned field service providers—often called the servicers’ boots on the ground—into a primary liaison that is helping improve a crucial dialogue between the servicing industry, local code enforcement officials and foreclosure prevention entities nationwide.

New York Life Insurance Co., TIAA-CREF, the French bank Dexia and other institutional investors joined the list of bondholders seeking compensation from Bank of America Corp. over MBS losses they suffered from buying nonprime bonds from Countrywide Financial Corp.

Home prices fell another 1% in November and values are just 3.2 percentage points above their April 2009 low, a sign that a double dip recession is in store for the nation's housing stock, according to figures compiled by Standard & Poor's/Case-Shiller.

The Treasury Department on Monday confirmed what most mortgage lobbyists have been anticipating for months — that the White House's long-awaited report on restructuring Fannie Mae and Freddie Mac (and the U.S. housing finance system in general) will be delayed until mid-February.

Investors, as well as issuers of mortgage-backed securities with government guarantees, should take a hit if the underlying loans go bad, according to former GSE regulator James Lockhart.

It’s said that Texas is weathering the recession better than most states. Though it does have a big state budget crisis like many other states do now, the state of its mortgage banking industry is better than most.

The $150 billion or so that U.S. taxpayers have spent to prop up Fannie Mae and Freddie Mac is "gone and won't be coming back," according to former Federal Home Loan Bank Board member Larry White.

The mortgage origination business will see a growth in the adoption of the Keiretsu model of doing business by leveraging vendor relationships on a single cloud technology platform, declared executives at Dorado Corp.

The Government National Mortgage Association is weighing its options on what to do with $22 billion in servicing rights it yanked away from Taylor Bean & Whitaker in the summer of 2009.

Moody’s Investors Service has added information related to deficiencies, international securities identification and credit enhancement to performance overview reports on residential mortgage- and asset-backed securities in Europe, the Middle East and Africa.