Servicing

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.

It may sound like common sense but clear communication can go a long way when dealing with wrongful foreclosures.Servicers today are already overwhelmed with distressed loans and validating additional information is almost impossible.

Almost half of consumers with a mortgage say they would consider walking away from the property if the loan was under water, according to a new survey conducted by RealtyTrac and Trulia.com.

Joseph Smith, the White House nominee to be the new GSE regulator, is getting dragged into the fight over whether Fannie Mae and Freddie Mac should participate in a principal reduction program managed by the Federal Housing Administration.

Moody's Investors Service said it took ratings action on $7.1 billion of payment option ARM MBS issued by GreenPoint Mortgage Funding Trust from 2005 to 2007.

Nonperforming commercial/multifamily whole loans trades are evolving as the market becomes more active, according to two executives at local New York/New Jersey specialist Helios Capital.

As hurricane season winds down, the attention of servicers moves from the Southern U.S. and focuses on other parts of the country that are cyclically threatened by seasonal weather and natural disasters. Regardless of the time of year, there always seems to be a reason to support claims for having a thorough disaster recovery plan in place.These efforts are typically a seasonal priority. In reality, however, seemingly obvious threats are oftentimes not what interrupt business. Rather, unanticipated threats can be especially devastating without proper planning.

As the White House and Treasury continue to work on their recommendations to revamp the housing finance system — in particular, the GSEs — a new round of layoffs has begun at Freddie Mac with cuts soon coming at Fannie Mae, according to GSE and other officials.

The housing bubble and subsequent carnage in the market have wiped out nearly $9 trillion in home equity since the peak of values in 2006, according to a new report from Zillow Real Estate Markets.

The Federal Housing Administration implemented its 'short' refinancing program in September and since then Obama Administration officials have anxiously been waiting for the GSE regulator to give Fannie Mae and Freddie Mac the green light to use the new principal reduction program as an option.