Servicing

Greg Ousley wants to be a chaperone of sorts for the secondary mortgage market. The chief executive of Global Debt Registry says his company's system, which was designed to track ownership of delinquent credit card debts, can improve upon the widely used Mortgage Electronic Registration System.

The Oregon attorney general has filed a lawsuit accusing American Team Mortgage, Mission Viejo, for repeatedly violating the state's Unfair Trade Practices Act and Mortgage Rescue Fraud Protection Act.

Commercial banks and savings institutions originated $162 billion of single-family loans through retail outlets in the third quarter, a 22% jump from 2Q, according to new figures released by the Federal Deposit Insurance Corp.

The American Securitization Forum in a new letter to joint regulators is pressing harder for risk retention to take the form of a “vertical slice” when it comes to residential mortgage-backed securities.

Sales of existing homes fell in October to an annual rate of 4.43 million units, a small decline from the prior month, but a 26% plunge from the same month a year ago, according to new figures released by the National Association of Realtors.

Freddie Mac purchased $39.6 billion of mortgages from its seller/servicers in October, flat from the previous month, but a 23% jump from the same period a year ago.

The National Credit Union Administration is exploring legal remedies against firms that sold faulty mortgage backed securities that later played a key role in the failure of a handful of corporate CUs.

Freddie Mac is creating a new securitization option for lenders that originate "jumbo/super conforming" fixed-rate mortgages that have a maximum loan limit of up to $729,750.

Berkadia Commercial Mortgage is adding a fixed-rate loan for inclusion in new commercial mortgage-backed securities to the products offered through its national mortgage banking network.

The "shadow" inventory of homes that could reach market increased to 2.1 million units in August, an 11% jump from the same period a year ago, according to new figures provided by CoreLogic, Santa Ana.