Servicing

It may be just another example of how the Department of the Treasury keeps lenders and servicers on their tiptoes but complying or not with a recent technology access review means participating in the Troubled Asset Relief Program or not.By Oct. 3, all servicers wishing to participate in any Making Home Affordable related program, including the Home Affordable Modification Program, Second Lien Modification Program, Treasury FHA-HAMP and Treasury FHA Second Lien Program must be registered.

Stewart Lender Services is offering a new loss-mitigation service designed to assist lender/servicers with a significant number of Hispanic clients.

Only a few years back lenders were aggressively pursuing Hispanic borrowers to originate loans. Now it is up to servicers to do the very same thing for a very different reason: to clean up the mess.Spanish-speaking delinquent borrowers are in dire need for assistance.

Online auction house Countdown To Buy, Bethel, Conn., has entered into its first private label deal, signing on Diamante Cabo San Lucas, a high-end golf resort.

The Federal Housing Administration is bringing together lenders and investors at a Sept. 29 meeting to ensure that its new FHA short refinance program does not stumble like other attempts to address negative equity and strategic defaults.

GMAC Mortgage, the fifth largest residential servicer in the U.S., said it has suspended certain foreclosures in 23 states, due to procedural problems.

The Obama administration has designated July 21, 2011 as the date the Consumer Financial Protection Bureau will take over enforcement of RESPA, TILA and other federal consumer protection laws that directly impact mortgage bankers.

Defaults on commercial real estate loans are beginning to play a larger role in the failure of FDIC-insured institutions than construction loans, according to Trepp LLC.

Government-backed loans continued to grab a larger slice of the mortgage market last year, according to new Home Mortgage Disclosure Act data released Monday.

As the national foreclosure prevention campaign and other efforts mature, loan modification fraud is becoming more defined, increasingly falling into two categories. And in both cases, it only takes a weak link in the mortgage-servicing process to open the door to thousands of dollars in losses.