Servicing

Five states and New York City will receive money to assist communities with remaining housing, economic development and infrastructure needs.

Sen. Elizabeth Warren weighed in publicly for the first time on the substance of the housing finance reform debate on Tuesday, endorsing a limited but explicit government guarantee, strong underwriting rules and servicer oversight, and secondary market access for smaller institutions.

Home price adjustments of recent months have not been significant enough to benefit all the homeowners who continue to be underwater.

More than three years after The Hardest Hit Fund was established, just 22% of the $7.6 billion has been spent on relief efforts to help distressed borrowers, a TARP IG report says.

The housing recovery for Massachusetts is in full effect as foreclosure petitions, foreclosure deeds and auction announcements all dropped by double-digit percentages in September from last year.

Michigan’s new public, private civic partnership is implementing a revitalization philosophy likely to transform metro Detroit and some of the nation’s hard-hit areas with high inventories of abandoned homes.

While the housing market is slowly picking up steam, there is still a very large inventory of distressed loans that pose a potential risk to the mortgage industry.

Servicers are still finding ways to cope with heightened regulatory scrutiny and continue to evaluate options to increase efficiencies while maintaining legal compliance.

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The title insurer will raise the funds by selling stock and taking a bridge loan.