Servicing

Kevin Villani, a former chief economist at Freddie Mac, writes that there are no legitimate public policy objectives served by reincarnating Fannie and Freddie.

PennyMac Mortgage Investment Trust this week filed a shelf registration statement with the Securities and Exchange Commission to sell up to $500 million worth of securities, be it common or preferred shares or warrants.

The benchmark 10-year Treasury as of day-end Wednesday had fallen to a new low for the year below 2.7%, pressuring mortgage rates downward as the Dow dropped 265 points, dragging most industry stocks down as well.

The aggregate value of commercial real estate loans priced by DebtX that back CMBS rose to 77.4% as of June 30 from 76.6% as of May 28, according to figures released by the auction company. Loan values were 76% as of June 30, 2009.

Cantor Fitzgerald and the CIM Group have formed a commercial real estate financing business that will originate loans for securitization.

Southwest Securities FSB, Dallas is cutting back the dollar amount of warehouse credit it lends to nonbanks, according to mortgage officials familiar with the situation.

Fortress Investment Group LLC and American International Group have agreed that some of the former's managed funds and affiliates will acquire 80% of AIG's American General Finance, a mortgage and consumer credit provider.

The benchmark 10-year Treasury as of late Tuesday afternoon has inched down again to a new low for the year between 2.75% and 2.80%, pressuring mortgage rates downward.

New industry research confirms what common sense has been indicating all along: Demand for short sales is on the rise.

How much damage can seller kickbacks do? A great deal, The Consumer Federation of America reports.The nonprofit says consumers across America "are buying overpriced and often unneeded insurance," including mortgage related insurance, habitually driven by seller kickbacks.