Servicing

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?

Celink, a reverse mortgage subservicer based in Lansing, Mich., will use Industry Consulting Group Inc., as its tax service provider.

The Department of Housing and Urban Development has rolled out a new $1 billion program to provide bridge loans of up to $50,000 for struggling mortgagors who have lost their jobs or suffered a significant loss of income.

Senator Richard Shelby, R-Ala., ranking Republican on the Senate Banking Committee, is calling on federal regulators to investigate the foreclosure problems at three major banks and report back to the committee.