Servicing

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.

Michael Barr, assistant Treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency, will testify before the House Financial Services Subcommittee Wednesday regarding the future of Fannie Mae and Freddie Mac.

What a difference two years make. Fannie Mae cleared 123 new Florida condominiums for financing in the first eight months of 2010, according to Condo Vultures.