Servicing

Quorum Federal Credit Union, Purchase, N.Y., has entered into a timeshare receivables purchase facility with Bluegreen Corp. of Boca Raton, Fla., allowing the CU to buy timeshare receivables on a non-recourse basis.

There was no shortage of short-sale transactions last year in South Florida.

While there are likely to be more settlements between the government-sponsored enterprises and mortgage lenders, a report from Keefe, Bruyette & Woods said the price of a settlement "might be too high for some originators who believe that their underwriting standards were strong."

The Conference of State Bank Supervisors has signed a memorandum of understanding with the Consumer Financial Protection Bureau's implementation team as a starting point in an effort to coordinate supervision between the two.

The sale of the MacDonald, Dettwiler and Associates U.S. and U.K. property information business to private equity group TPG Capital will close Tuesday, multiple sources confirmed to Mortgage Technology.

Small business owners facing a multitude of challenges both financial and non-financial have to rely on affordable technology that helps increase operational efficiency.Mike Gordon, vice president of the FICO banking industry practice, a provider of decision management solutions expects to see banks intensify their overall growth efforts and improved operational efficiencies. Lender servicers are now facing the need to improve customer relationships and collections’ management in times when unemployment and delinquency rates are at record highs.

Annaly Capital Management Tuesday morning said it would raise almost $1.3 billion in new equity by selling 75 million shares of common at an offering price of $17.20 each.

The Mortgage Bankers Association wants the Federal Reserve to ease up on its compensation rules allowing production managers who originate loans to share in the profits of their branch office.

The five largest servicers of residential mortgages – including Bank of America and Wells Fargo & Co. – may be the first to settle with 50 state attorneys general who are investigating foreclosure practices, according to combined press reports.

PennyMac Mortgage Investment Trust, Calabasas, Calif., a vulture fund that invests in troubled loans, declared a cash dividend of 42 cents a share for the fourth quarter.