Servicing

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.

Bank of America said it has reviewed its foreclosure procedures in 23 judicial states, resubmitted affidavits that were in dispute, and anticipates cranking up REO sales in a few weeks.

Traders are anxiously awaiting the first offering, expected soon, of NCUA Guaranteed Notes, the bonds derived from cash flows on toxic assets — including mortgages — held by corporate credit unions that carry a full federal guarantee.

The California Association of Realtors plans to renew its fight next year for a mortgage bill that was recently vetoed by Gov. Arnold Schwarzenegger, CA-NAR officials said.