Servicing

For the second time in 2013, Charles Head was convicted by a federal jury in the Eastern District of California for operating a major mortgage fraud scheme.

The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlements—mostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.

Rising interest rates next year will heighten both the term risk of new deals and the refinance risk of outstanding commercial mortgage-backed securities, but Moody’s ratings could remain stable.

New policies spell out "business interactions" between mortgage insurers and servicers.

Since the fall of 2011, national property values are up 17%. But in November, quarterly growth was 1.8%, down from the previous quarter’s 3.3% uptick.

Borrowers whose homes were damaged by the November tornadoes are being offered mortgage relief options by the government-sponsored enterprise including forbearance for up to one year.

An outsourcing services provider is buying a capital markets consultancy for $75 million, and separately a mortgage company is outfitting its new servicing unit with lien-release technology.

More homeowners will put their homes up for sale next year and increase the supply.

The deal releases the lender from certain existing and future repurchase obligations for approximately 716,000 loans originated between January 2000 and December 2009.

If Congress allows the Mortgage Forgiveness Debt Relief Act to expire, homeowners who restructure their mortgages or are foreclosed upon would be required to pay taxes on canceled debt.