Servicing

Lenders and Realtors are hailing a new law that delays flood insurance premium increases, but unless the government takes actuarially prudent measures, rising sea levels could cost taxpayers dearly.

The OCC reports that $30 billion in HELOCs will reach the end of their initial draw period in 2014. That’s just the beginning.

Distressed homeowners who obtained loan modifications fell to approximately 42,000 in February, a 5% decrease from the month before and a sign that the number of borrowers needing assistance is declining, according to the Hope Now alliance.

Colony American Homes has completed a securitization transaction backed by income generated from almost 3,400 single-family rental homes.

The number of underwater homeowners who received principal reductions on their mortgages through the Keep Your Home California program increased dramatically in 2013.

Jose Gonzalez, the first Hispanic president of a Federal Home Loan Bank, envisions eventually allowing new categories of lenders like REITs to join the system, but wants membership to stay as it is for now.

There is only one week remaining to submit a nomination for the 2014 Mortgage Technology Top 50 Service Providers.

The final deadline for nominations is 6 p.m. EDT Thursday, April 17, 2014.

Lenders are increasingly using the courts to foreclose on delinquent homeowners in states where it's not required to reduce the risk of falling afoul of new protections.

The Michigan company has pledged $1 million to help people buy homes in the Marygrove College neighborhood. Homeowners can get up to $25,000 and have $5,000 shaved off the balance each year they live there.

Refinances last week made up the lowest portion of mortgage activity since July 2009, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ended April 4.