Servicing

Redwood Trust, the only company to securitize jumbo loans during the past two years, has pushed backed its second deal to early 2011 because of a lack of available product.

WASHINGTON—The Government National Mortgage Association expects the increase in its minimum net-worth requirement to $2.5 million will have a limited impact on its active MBS issuers.

Rep. Ed Royce's underdog campaign to chair the House Financial Services Committee rests on two primary points: that he has been consistently right on a myriad of financial services issues, and that he could more effectively go toe to toe with Rep. Barney Frank and other Democrats.

The Federal Housing Administration's Mutual Mortgage Insurance Fund ended fiscal year 2010 in better financial shape than its auditors expected with the agency projecting foreclosure claims peaking in the summer of 2011.

Although the nation's labor markets are beginning to stir to life, mortgage banking and brokerage companies added just 900 new full-time jobs during September, according to figures released Friday morning by the Bureau of Labor Statistics.

The federal government may need to spend upwards of $700 billion to resolve Fannie Mae and Freddie Mac and then create a new government "entity" to replace them, according to a report from Standard & Poor's.

JPMorgan Chase & Co. in the "next couple of weeks" will resume filing paperwork on 127,000 foreclosures it has suspended due to documentation errors, said Charlie Scharf, chief executive of the New York company's retail bank.

ATLANTA—Mortgage originators are pushing back against push-backs.“The industry has to stand up and say, ‘Enough is enough,’” Ronald McCord of the First Mortgage Co. in Oklahoma City said during the opening session of the Mortgage Bankers Association's annual convention here last week. "We're going to have to bring this to a head."

Foreclosure-related problems could cost a quartet of U.S. banks $26 billion, according to a report published by analysts at Goldman Sachs, which noted that Bank of America will feel more than half of those losses.

Specialty servicer Ocwen Financial Corp., West Palm Beach, Fla., posted a third quarter loss of nearly $9 million due to $33.9 million of transaction-related charges tied to its purchase of HomEq, another specialty servicer.