Servicing

Once statistical accuracy is factored in, housing and mortgage databases can never be large enough and may be leading the way to one-stop shopping mega-pools.Such privately owned housing data pools may not yet be able to compete with the IRS or other federal resources but they already are important to millions of people. Or depending on one’s point of view: millions of potential mortgage clients.

A real estate Investor is seeing growth potential in partnering with local builders and developers.Mountain Real Estate Capital, the equity investment arm of the Mountain Real Estate Group, Charlotte, N.C., closed on a couple of such joint venture equity investments through the second quarter.

Veros Real Estate Solutions has integrated its VeroSelect and Valuation Risk Management products with a la mode's Mercury Network appraiser vendor management platform, enabling observance of government-sponsored enterprise secondary market loan quality initiatives.

CoreLogic and Blueberry Systems have formed a partnership to offer fraud prevention technology to lenders and servicers.

Bank of America Corp., the nation's largest servicer of home mortgages, should repurchase up to $20 billion of loans that were based on wrong or missing information, according to a bond insurer trade group.

Privately held tracking firm ForeclosureRadar, Discovery, Calif., has changed the name of its foreclosure report after expanding coverage to Arizona, Nevada, Oregon, and Washington.

Creative collaboration is the name of the game going forward.Foreclosures “likely to remain a significant challenge” for the coming 18 to 24 months are pressing the mortgage industry to come up with new collaborations, technology and strategies “to keep up.” And one way to do that is by facilitating REO sales for socially motivated buyers.

USA Federal Credit Union, a small CU chartered to serve Navy personnel in the San Diego area, said it will be bought by Navy Federal Credit Union, one of several bidders for the ailing institution.

Fannie Mae has established new foreclosure timeframes for four states – Florida, Maryland, Nevada and New York – telling seller/servicers they face potentially steep fines if they cannot complete the task.

Mortgage insurer Radian Group said its inventory of delinquent loans has fallen for eight consecutive months, but expressed concerns regarding where the trend might be headed in the fourth quarter.