Servicing

Jason Gillespie, a senior vice president in the warehouse lending division of Southwest Securities FSB, has left the bank, the second senior official in the unit to depart within the past three weeks.

When Eric Peterson buys foreclosed homes through courthouse trustee sales these days, the majority of borrowers are still living in the home rent-free, waiting to be evicted.

The Federal Reserve, in its new 'Beige Book' report, says U.S. home sales are in the tank again with "evidence of very low or declining" interest from consumers in buying a house.

CoreLogic Credco has unveiled a new product called the LQ GAP report, which is designed to help residential lenders comply with Fannie Mae's 'Loan Quality Initiative' by identifying and summarizing any changes in an applicant's credit report between pre-approval and pre-funding.

The Department of Housing and Urban Development Wednesday awarded an additional $1 billion of funding to states and counties, earmarking the money for fighting the damage caused in certain neighborhoods by home foreclosures.

A new trade group that caters to the 'hard money' segment of the mortgage industry has drafted a code of ethics for its members — lenders that are privately held and cater to borrowers who can't get credit elsewhere.

Residential loan applications fell by 1.5% on a seasonally adjusted basis last week, but there was a slight improvement in new purchase money loans, according to figures compiled by the Mortgage Bankers Association.

The Mortgage Bankers Association is asking the Federal Housing Finance Agency to assure lenders that their servicing contracts with the GSEs will not be repudiated in the event of their liquidation by the government.

BDO Seidman has brought on Richard Hauer, a commercial property workout professional, to assist the New York consulting firm's bankruptcy and restructuring professionals on all real estate-related issues.

A Jefferson County District Court judge in Colorado has barred Sherron L. Lewis, Jr. from providing consumers with foreclosure-relief services.