Servicing

The 30-day delinquency rate on 'open end' home equity lines of credit fell 7 basis points to 1.74% in the third quarter, reaching a low not seen since 2008, according to new figures released by the American Bankers Association.

What will 2011 hold for the mortgage industry? It is shaping up to be a poor year for originations, a big year for servicing, and a key year for the future of Fannie Mae and Freddie Mac.

Capital Markets Cooperative and the Bank of Internet have formed an alliance to offer a proprietary jumbo product that the bank has just started offering on a correspondent basis.

The Federal Housing Administration on Monday revised the November seriously delinquent rate for FHA-insured single family loans down to 8.34%.

Ginnie Mae is raising the minimum net worth requirement for issuers of FHA-insured reverse mortgages to $5 million from $1 million, while establishing a minimum servicing fee for 'home equity conversion mortgage' MBS.

A foundation representing investors in the United States as well as three other parts of the globe said it is taking a shareholder fraud action in a Utrecht civil court related to a major acquisition by Fortis NV, a European company that had been hard hit by U.S. subprime exposures and subsequently went through a government bailout.

Property valuation technology developer Veros said its VeroSELECT valuation management platform has been updated to interface with the Uniform Collateral Data Portal, the still-pending technology platform the government-sponsored enterprises will use to accept appraisal data on mortgages they purchase.

A ruling by Massachusetts' highest court Friday repudiating a widespread securitization practice could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere.

Millions of delinquent or foreclosure loans in need of default management assistance have created demand far and beyond the capacity of existing specialty servicers that, in return, is fostering the creation of mega servicer shops.

Modifications of securitized commercial real estate loans more than doubled in 2010 from the previous year, according to a new report from Standard & Poor's.