Servicing

The latest Federal Open Market Committee meeting minutes suggest that employment concerns were what led the Fed last month to continue Treasury purchases aimed at stimulating the economy through lower rates despite some positive economic developments at the time.

Homeowners with negative equity on non-agency loans are vulnerable to default even in cases where they have a history of making their payments on time, according to a new report from Amherst Securities Group.

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.