Servicing

Wells Fargo & Co., auctioned off a $185 million package of nonperforming residential loans this week, according to bidders and advisors who play in that market.

It’s not as hard as it used to be to find good news in the Mortgage Bankers Association’s second-quarter delinquency survey.

A legal strategy dubbed the "Mortgage Terminator" by the Miami Beach law firm which invented it has been confirmed by a Broward County, Fla., court as a viable method for protecting condominium and homeowner associations struggling to deal with the impact of foreclosures in their communities.

Bank of America – which at mid-year had 420,000 loans in some stage of foreclosure – said it temporarily will halt selling foreclosed homes in all 50 states.

Mortgage companies shed 900 full-time employees from their payrolls in August, even though refinancing applications are now on the rise at many shops.

President Obama late Thursday vetoed a bill that was designed to facilitate electronic mortgages and e-commerce. The veto arose in the wake of fears that language in the legislation would make it easier for servicers to get foreclosures approved by the courts.

Can 150 foreclosure filings a day be a good thing? Yes, if the actions are in the tri-county South Florida region, where the pace is actually slowing, according to a new report.

With REO inventories increasing, there is a growing responsibility for brokers and field service providers to represent “an emotional interest” in the properties while appealing to potential buyers and their five senses during the marketing process.

The New York State Banking Department reports the total number of delinquent homeowners has doubled to 134,000.

The voice of reason: What is your best idea for Obama to help Fannie/Freddie? Fannie and Freddie need to stop the bleeding and need your ideas. What is your idea?