Servicing

More than 1.8 million Americans have sought help keeping their homes from the National Foreclosure Mitigation Counseling Program. Hundreds of thousands more still need help, according to the program's administrator.

While evolving market conditions have made retaining servicing rights more attractive to independent mortgage bankers, making the right choice between an in-house operation or engaging with a subservicer is critical to the new business line's success.

Despite the mounting charge from burgeoning nonbank servicers, three large banks still control the majority of the servicing market.

New Residential Mortgage priced $504 million of bonds backed by a pool of mostly reperforming residential mortgages, according to Standard & Poor's.

For the first time, there is a subservicer, Cenlar FSB, handling the servicing function for more than $200 billion in mortgage loans.

The first listed Australian landlord of U.S. housing is hunting for rundown properties in the New York City area as prices hit new highs.

National MI, a private mortgage insurance company in Emeryville, Calif., has named Jay Sherwood as president.

Mel Watt, down payment, homeownership, Fannie Mae, Freddie Mac, FHA

PNC Financial Services Group has appointed a new leader for its mortgage division.