Servicing

Radian Guaranty Inc., Philadelphia has cut its inventory of delinquent loans by nearly 3,400 over the first two months of the fourth quarter, although new defaults outpaced cures by over 3,000.

The number of mortgages with negative equity fell nearly 2% in the third quarter from the previous quarter mostly due to foreclosures, according to a CoreLogic report issued Monday morning.

Though regulators have so far been vague about what kinds of national servicing standards they hope Congress will enact next year, momentum appears to be growing behind the concept.

Anyone expecting a quick and narrow resolution of mortgage servicers' troubles from foreclosure process failures probably hasn't talked to Iowa Attorney General Tom Miller, who heads the 50-state coalition investigating the industry.

An increase in monthly commercial mortgage-backed securities delinquencies in Fitch’s latest report adds to evidence suggesting that improvements in late payments seen in October were due primary to the influence of an extraordinary loan resolution.An 18-basis point increase to 7.96% in November in Fitch’s delinquency index of loans at least 60 days delinquent or in foreclosure follows October's one-time decline driven primarily by the Extended Stay America loan resolution.

The Government National Mortgage Association is doubling its net worth requirements for multifamily issuers to $1 million as well as imposing new capital and liquidity standards on firms.

Wells Fargo & Co. recently sold $243 million of nonperforming residential mortgages and Citigroup unloaded $138 million of product, according to investors and brokers who play in that space.

The Mortgage Bankers Associations said it has created a new task force to study the issue of mortgage servicing rights and make recommendations about the future of the business.

An increase in monthly commercial mortgage-backed securities delinquencies in Fitch’s latest report adds to evidence suggesting that improvements in late payments seen in October were due primary to the influence of an extraordinary loan resolution.

Bank of America has directed its foreclosure attorneys to proceed with 16,000 foreclosure cases after a two-month hiatus where it took steps to ensure that cases were being processed correctly.