Servicing

The Treasury Department's continued silence on its pending plan for the future of Fannie Mae and Freddie Mac is fueling suspicion that the administration does not have a concrete proposal.

While foreclosure starts fell in California during December, slightly more foreclosure auctions were set than in the previous month, according to figures released by ForeclosureRadar.com.

Home sales and prices could register a small increase in 2011, but there is a downside risk that foreclosures could overwhelm buyer demand, sending values down, according to a panel of economists from some of the nation's largest banks.

Morgan Stanley & Co. late Thursday named Ken deRegt head of fixed income sales and trading, replacing Jack DiMaio, who is leaving the firm.

Inexperienced and uneducated Realtors are hampering short sales in the government's Home Affordable Foreclosure Alternatives program, according to a pair of real estate professionals that specialize in distressed home sales.

The Association of Mortgage Investors is calling for the use of "specialty servicers" to modify and write down delinquent single-family loans, second mortgages, and other consumer debt.

Although Fannie Mae and Freddie Mac are toying with the idea of changing their servicing contract with seller/servicers, the Government National Mortgage Association is not at this time.

The residential mortgage division of JPMorgan Chase saw its net earnings more than double to $577 million in the fourth quarter, thanks to rising loan demand and strong profit margins in residential finance.

The American Bankers Association is urging banking regulators to tailor the "qualified residential mortgage" standard so that the majority of loans originated by depository institutions are exempt from risk retention.

While not quite the same as the agonies of 2007 and 2008, 2010 was another calamitous year for the mortgage and MBS markets. Here are my expectations on a variety of topics for 2011.