Servicing

It would appear that the days of Fannie Mae and Freddie Mac being “kinder and gentler” owners of problem mortgages could be coming to an end.

The total dollar amount of outstanding subprime loans in the nation fell to $714 billion at June 30, a 45% decline from the peak back in 2007, according to figures compiled by National Mortgage News and the Quarterly Data Report.

Technology provider DataVerify has enhanced its enterprise-wide fraud management platform, DRIVE, to help mortgage lenders identify and avoid potential short sale and property flipping losses.

Prestwick Mortgage Group of Virginia is selling a $197 million package of residential servicing rights tied to Georgia loans guaranteed by Fannie Mae and Freddie Mac.

If a home is underwater but the borrower keeps paying the second mortgage (though maybe not the first), can that junior lien be worth anywhere near face value?

With all of the problems in the mortgage industry, a new study appears to show that being 60 days late on mortgage payments is not as big of a concern as it used to be.

Although Radian has seen its inventory of delinquent loans decline for eight consecutive months, what will happen in the fourth quarter remains to be seen, said chief executive S.A. Ibrahim.

The Government National Mortgage Association guaranteed roughly $34 billion of MBS in August, as the FHA/VA market remained strong, particularly for buyers of new and existing homes.

The lone bank failure over the last three weeks may have offered a respite from the usual series of collapses on Friday nights, but most observers caution against predictions that bank closures may be slowing.

Moody's Investors Service on Friday took ratings action on $5.2 billion of Alt-A mortgage-backed securities issued by J.P. Morgan in 2006 and 2007.