Servicing

The scheme allegedly has victimized more than a thousand homeowners, who have paid in excess of $3.4 million.

Home Affordable Modification Program servicers have completed nearly 151,000 loan modifications where the borrowers benefit from principal reductions and 129,000 of those loans are still active.

Interactive Mortgage Advisors is offering a $102.9 million Fannie Mae bulk residential mortgage servicing rights portfolio for sale.

There was a 0.7% rise in home prices in July from June, according to the FNC Residential Price Index.

There were nearly 2% fewer homes sold in California in August compared with July’s revised figures, although it is over 3% when compared with August 2012.

The Consumer Financial Protection Bureau has issued a final rule that contains 273 pages of refinements to its qualified mortgage, loan officer compensation and servicing rules.

Data through July 2013 show over 1.7 million homeowners received foreclosure mitigation assistance through the Making Home Affordable Program.

Fannie Mae has promoted Terence Edwards, the former president and CEO of PHH Corp., to executive vice president and chief operating officer.

Trade-up buyers are typically more responsive to market conditions and financial incentives.

The continuous housing market recovery and the overall decline in inventory is pressuring down foreclosure sales across California.