Servicing

The Erie County, N.Y., Legislature unanimously adopted a resolution asking for a state law that would enable local leaders to shorten the foreclosure timetable for bank-owned vacant homes.

New entrants in mortgage servicing are rethinking how business is done, creating more division between holders of mortgage servicing rights and the entities that actually manage loans.

Robert and Dolores Sexton never saw it coming: a classic real estate ruse the Bay Area retirees say has cost them the home they bought almost 42 years ago.

The number of homes with a foreclosure filing increased 5% in May over the previous month, as properties entering the process also increased by 5%.

Fannie Mae chose three winning bidders for its 10th nonperforming loan sale, which consisted of 3,400 loans with an unpaid principal balance of $581 million.

St. Louis County, Minn., made a cool $350,500 selling 25 parcels that had been given up by their previous owners for non-payment of property taxes.

The share of mortgaged properties underwater is inching down toward 6% but in certain areas like Las Vegas the percentage is more than twice as high, according to CoreLogic.

Mortgage industry hiring and new job appointments for the week ending June 9.

Fay Servicing will pay $1.15 million in borrower restitution and possible disgorgement to settle CFPB allegations that it engaged in so-called foreclosure dual tracking and failed to keep borrowers informed about loss mitigation efforts.

HSBC has fulfilled its obligation under the National Mortgage Settlement and will no longer be monitored for compliance.