Servicing

Warren, Michigan-based provider of commercial and residential mortgage default management solutions Five Brothers has introduced a new tool that helps speed up and simplify the preparation, delivery, notarization and tracking of all mortgage documents.

A unit of Mariner Holdings LLC, Leawood, Kan., has purchased part of a $760 million portfolio of property loans from the Federal Deposit Insurance Corp.

Surviving during this crisis may be the primary concern for many mortgage servicers. But as in the old saying: good is the enemy of great, aiming to innovate and move ahead of the crowd is better than just aiming to survive.

The Federal Housing Administration Tuesday morning officially launched a new refinancing program to aid underwater borrowers, allowing lenders to write a new government-backed mortgage where up to 10% of the original loan amount will be forgiven.

Mortgagors continued to pay down their residential loans in the second quarter, a trend that reduces their debt load but also spells potential trouble for mortgage banking firms that earn processing fees on such balances.

BB&T Corp., Winston-Salem, N.C., said roughly half of its $1.5 billion in warehouse commitments are currently funded.

Hundreds of American Credit Union Mortgage Association members will convene on September 15-18 in Las Vegas to attend its national conference.

Redwood Trust Inc., Mill Valley, Calif., says in its new quarterly review that it likely will come to market with a $300 million jumbo MBS sometime in the fourth quarter.

In math two negatives make for a positive, but in the mortgage marketplace when foreclosures drive a decrease in the number of properties with negative equity it is not a good sign.

Mortgage companies added 2,300 full-time employees to their payrolls in July as refinancing applications swelled, compensating for a weak purchase money business.