Servicing

Bank of America has decided to merge its Home Loan Services affiliate in Pittsburgh, a subprime specialty servicer, into its main servicing operation.

The Homeowner's HOPE Hotline has received over 122,000 calls per month in 2010, or over 5,500 calls from homeowners each day.

A capital markets veteran whose accomplishments include a pioneering effort in the United Kingdom’s mortgage-related securities market has joined hedge fund Titan Capital Group.

Responding to market demand, the Federal Housing Administration is now offering a newly modified version of the Home Equity Conversion Mortgage product that requires lower upfront premiums.

The majority of Americans believe that home prices will either hold steady or increase over the next year but one-third said they would be more likely to rent their next home if they were to move. This view could hold back the housing recovery for the time being, but in the long term lead to a stronger marketplace, said an executive with Fannie Mae, which conducted the survey.

The Carlton Exchange has been retained as the exclusive seller of $10 million of nonperforming first-mortgage loans secured by eight commercial office, retail and hospitality properties located throughout the country.

The Federal Reserve Board's loan officer compensation rule will "destroy" mortgage brokers and small businesses, declared Roy DeLoach, chief executive of the National Association of Mortgage Brokers.

As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties longer than expected.

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.