Servicing

The GSE regulator Thursday issued new affordable goals that Fannie Mae and Freddie Mac are expected to meet this calendar year.

REO asset manager and loss mit provider Green River Capital says during the first half of 2010 it has increased REO assignments by nearly 8% from the same period in 2009 and decreased the time each property spends on the market by almost 15% compared to figures during the last 12 months.

Standard & Poor's Corp. this week added ZAIS Servicing Asset Management, Dallas, to its "Select" servicer list for firms working in the commercial mortgage specialty servicer space.

CP Federal Credit, Jackson, Miss., will give away a foreclosed home on Friday during a noon ceremony at its headquarters, as part of its "Wish Upon A Home" giveaway program.

Delinquency rates on commercial mortgages were mixed in the second quarter. The rate on banks' commercial and multifamily mortgages appears to have reached a plateau, while the delinquency rate for loans in commercial securities continued to climb during the period, according to the latest data from the MBA.

David Frase, executive vice president in charge of warehouse lending at Southwest Securities FSB, Dallas, has left the company, industry officials confirmed to National Mortgage News.

The National Association of Realtors' gauge of future home sales rose 5.2% in July after falling 28% since April when two federal tax credits for home buyers expired.

Fannie Mae wants out of its defaulted residential mortgage holdings as quickly as possible and is warning loan servicers not to stand in its way.

In California, foreign language translation requirements have been added for essentially all lenders other than federally chartered banks, credit unions, savings banks or thrifts, which are expressly exempt.