Servicing

Homeowners that go through a foreclosure are likely to have elevated delinquency rates on other types of consumer credit for many years to come, an effect that has implications for loan modifications, according to a new study from the Federal Reserve.

There is a difference between employees that are happy to have a job and those who enjoy showing up to work every morning. And it is not all about having chosen the right profession. It usually boils down to the right company culture and executive practices.

New data reaffirm that state laws have and will continue to have a noticeable effect on foreclosure rates nationwide and even more so in some of the most the problematic states such as Florida.The RealtyTrac U.S. Foreclosure Market Report shows 262,339 foreclosure filings that include default notices, scheduled auctions and bank repossessions were filed in November 2010, up 21% from the previous month.

How to use resources more efficiently is a longstanding issue that is bound to challenge servicers as they face another year where foreclosures dominate the marketplace.The sometimes necessary evil of transferring homeownership from the borrower to the lender is recognized as a loss for the economy at large, but the challenge starts with choosing between the twin evils of a foreclosure and short sale.

Wells Fargo & Co., one of six lenders facing a legal challenge in New Jersey's Supreme Court tied to foreclosures and the 'robo-signing' scandal, said it will comply and present its case in early January.

Orange County, Calif., foreclosure starts and sales at auctions are down, but the number of homes that went back to lenders and have not been resold is up over last year, according to a new report from ForeclosureRadar.com.

Fannie Mae and Freddie Mac bought nearly 400,000 refinanced loans in the third quarter, an 82% spike from 2Q, according to new figures released by the Federal Housing Finance Agency.

The dollar amount of outstanding residential loans in the U.S. continued to fall in the third quarter as more Americans engaged in "cash-in" refinancings while others lost their homes due to foreclosure.

Shareholders of First Niagara Financial Group, and NewAlliance Bancshares Monday overwhelmingly approved their merger agreement despite strong disapproval from Connecticut officials.

California is the short sales capital of the world. According to CoreLogic, which made a big study of the field earlier this year, more than a quarter of all short sales in the years 2008 and 2009 happened in California.