Servicing

Along with the foreclosure gate the Dodd-Frank Act also is in everybody's mind, according to mortgage veterans Steve Horne and Greg Hebner who expect it to be a hot topic at the upcoming industry conventions. And for a very good reason.If as of now these attorneys say it is a testament to “good intention” governance, the new legislation’s success or failure will largely depend not only on how it will be implemented but also on how its specific requirements will be defined.

Freddie Mac plans to issue a two-year Reference Notes security and price it on Wednesday, Oct. 20.

U.S. commercial real estate prices fell 3.3% in August, according to Moody’s commercial price indices, to a low not seen since October 2009.

The two subprime residential mortgage-backed securities vintages with relatively poor reputations for performance showed signs of stabilizing in the most recent month, according to Fitch Solutions.

Atlanta Federal Reserve president Dennis Lockhart said Tuesday morning that despite rock bottom mortgage rates, housing conditions in his district are not improving much.

ServiceLink, a provider of origination and default-related technology for fifteen of the top twenty mortgage lenders and servicers, has launched a comprehensive, end-to-end default solution.

If Rep. Scott Garrett has his way next year, the new congressionally mandated Consumer Federal Protection Bureau is toast.

MGIC Investment Corp., Milwaukee, had a net loss of $51.5 million for the third quarter, compared with a one-shot net profit of $26.4 million for the second quarter and a net loss of $518 million for the third quarter 2009.

Existing home sales fell 6.4% in September from the previous month, but October could turn out to be a good month, according to RE/MAX, the national realty company.

Bank of America said its mortgage banking income jumped 95% in the third quarter to $1.75 billion, as production margins widened and expenses on representations and warranties declined.