Servicing

After slogging through several quarters of high expenses and shrinking profits, some lenders are now selling mortgage servicing rights to raise cash to cover payroll and expenses, industry sources say.

Housing market trends continue to show improvement in February as housing prices stabilize and foreclosure starts decrease to 2005 levels, according to the March installment of the Obama administration's Housing Scorecard.

Efforts to help underwater borrowers with second liens have had little success, and the Treasury's authority to create new homeowner aid programs under the Troubled Asset Relief Program has expired.

The Mortgage Bankers Association urged the Senate and House finance committees to pass the Expiring Provisions Improvement Reform and Efficiency Act, saying the bill contains "several critical provisions" for real estate financing markets and the economic recovery.

New rules should protect the FHA from losses on reverse mortgages and make prepayments more predictable for bond investors, but they also slow the production of loans available for securitization.

The 10X Award honors a company, product or technology that's had an exponential impact on mortgage finance. Learn about this year's finalists and see who won the 2013 MT Award.

Secondary market agency won't securitize fixed-rate Home Equity Conversion Mortgages that feature a line of credit.

Home prices rose year-over-year in February for the 24th consecutive month, according to a new report from CoreLogic.

The tax provision would help distressed homeowners seeking workouts and short sales from being penalized by the IRS.

Although the national outlook continues to improve as the worst of the housing crisis abates, foreclosures and real estate owned properties remain a concern for many markets throughout the country.