Servicing

Apparently most Americans would not get out of their comfort zone even if that would help them secure, or make more affordable, the so-called American dream of homeownership.So much so that according to a new survey released by LendingTree of Charlotte, N.C., while 96% of American consumers routinely compare prices when shopping—for anything and everything available for sale—almost 40% of them obtain just one home loan quote.

Real estate owned property preservation firm Mortgage Contracting Services launched a new version of its website, adding dedicated resource pages to the various REO industry players it works for and with.

A new report from Credit Suisse says that a "private-only" solution to the mortgage market will be "extremely challenging" and could remove up to $4 trillion in capital because risk adverse investors would flee if no government backstop is provided to MBS.

Local governments across Florida are losing revenue because banks are getting the homestead-exemption tax breaks intended for the homeowners whose properties the lenders have repossessed, according to a report in the in The Sun Sentinel.

Hudson Realty Capital LLC, in partnership with the Federal Deposit Insurance Corp., has closed on the purchase of a pool of distressed Southeastern commercial real estate loans with an unpaid principal balance valued at more than $102 million.

The amount of commercial mortgage debt outstanding declined 1.3% between the second and third quarters, as there were fewer construction loans held by banks and thrifts and commercial and multifamily mortgages held in commercial mortgage-backed securities. This is according to the Mortgage Bankers Association's analysis of the Federal Reserve Board Flow of Funds data.

Ginnie Mae reported net income of $541.5 million in fiscal year 2010, a 6% gain from the prior year, while revenues jumped 54%.

New Jersey has become the 19th state to restrict the use of private transfer fees which require a percentage of a home's sales price be paid to a private third party each time the property is sold, often for up to 99 years.

The government's primary foreclosure prevention program – HAMP – has not lived up to expectations and will wind up helping just a fraction of its target audience, according to a new report from the bipartisan Congressional Oversight Panel.

Citigroup late last week agreed to sell a $441 million package of nonperforming loans with PennyMac Mortgage Investment Trust being identified as the winning bidder, according to industry sources who play in that space.