Servicing

Interactive Mortgage Advisors, Denver, has closed on the sale of $502 million of bulk mortgage servicing rights backed by Fannie Mae loans in North Carolina.

Residential servicers that are part of the HOPE NOW alliance completed 112,022 loan modifications in November, a 10% drop from the previous month as proprietary modifications fell to their lowest level since the fall of 2009.

Private investment firm Starwood Capital Group, Greenwich, Conn., has purchased a non-performing commercial real estate loan portfolio with an outstanding principal balance of $157 million from an undisclosed Midwest regional bank.

Fannie Mae’s latest homeowner outreach program is a website with links to resources and information for borrowers who want to avoid foreclosure.

MountainView Capital Group, Denver, late Wednesday brokered a sale of 2,500 performing second liens with an unpaid principal balance of $110 million.

Freddie Mac’s new $6 billion three-year Reference Notes security priced Wednesday at 100 to yield 1.375% or 27 basis points more than comparable Treasury notes amid a large number of issuers coming to market.

The 30-day plus delinquency rate on commercial mortgage-backed securities hit a record high of 9.2% in December, up 27 basis points from the previous month, and a 300 bps jump from a year ago, according to Trepp LLC. Multifamily overdues were even worse, at an increase of 68 bps.

StellarOne Corp., the parent of a community bank based in Charlottesville, Va., has entered into an agreement with an undisclosed bank investor to resolve repurchase and indemnification claims related to loans originated by the company's retail and wholesale channels prior to 2009.

The Federal Housing Administration this week issued new guidance to servicers on working with seniors who are in danger of defaulting on their reverse mortgages because they have fallen behind on paying property taxes and homeowners insurance.

Having recently completed its acquisition of Massachusetts-based lender ClearPoint Funding, investment bank Gleacher & Co. Inc. has made plans to—among other things—officially transfer its related capital markets group to New York from Marlborough, Mass.