Servicing

Sales of existing condominiums rose 15% in Florida in the third quarter as lower prices continued to attract both domestic and foreign bargain hunters.

Three U.S. senators are urging federal regulators to consider industry analysis of the default risks on certain loan products and features in drafting a rule that will exempt "qualified residential mortgages" from risk retention rules.

Mortgage rates continued their race to the basement, setting new lows for the week ending Nov. 11, according to a new survey compiled by Freddie Mac.

TPG Capital's purchase of the property information division of MacDonald Dettwiler and Associates puts the California-based private equity firm squarely in the middle of the foreclosure crisis.

Mortgage underwriting standards have become "excessively tight" and the Federal Housing Administration and GSEs need to "reassess and amend their policies," according to the National Association of Realtors

Moody's Investors Service Inc. has weighed in on the widespread foreclosure-document problems with a report questioning whether document custodians followed industry standards in tracking and holding original mortgages notes in their files. It also identified specific document defects that could prevent servicers from foreclosing.

Citigroup, an active seller of nonperforming residential loans, recently sold a $1.4 billion pool of multifamily and commercial mortgages to OneWest Bank FSB, Pasadena, Calif., for an undisclosed sum.

Assurant Group defended its force-placed insurance business practices and relationships with mortgage servicers Wednesday, as its stock fell 11% following publication of an American Banker story examining the company's niche.

Foreclosure activity topped 330,000 units in October, a 4% decline from September — but only because of the national robo-gate scandal, according to new figures compiled by RealtyTrac, Irvine, Calif.

A number of new trends in the U.S. home mortgage industry are impacting servicers' ability to move problem loans efficiently through the default resolution process.