Servicing

Moody's Investors Service has corrected and upgraded the ratings of three vintage securities backed by subprime mortgage loans that were issued by Novastar Mortgage Funding Trust from 2003 and 2004.

Commercial mortgage-backed securities late-pays in August fell 10 basis points to 6.68%, a milder decline than the record 40 basis point month-to-month drop experienced in July.

Mounting regulations—and legislation still to unfold—continue to cause an extraordinary amount of concern for servicers.

The industry is largely ready for new rules affecting procedures for force-placed insurance on residential properties, but not everyone is.

Seneca Mortgage Investments is planning to acquire AMS Servicing.

BlackRock’s request with other bondholders for a court order to block a plan by Richmond, Calif., to seize underwater mortgages through eminent domain is “not ripe,” a judge said.

Gerry Zobrist was sentenced to 87 months in prison for his involvement in a mortgage fraud scheme that caused more than $30 million in losses to lenders.

Fortress Investment Group hired Michael Nierenberg, Bank of America Corp.’s head of global mortgages and securitized products, as a senior executive in its private-equity business.

With homeownership levels continuing to decrease and more families entering the rental market, real estate companies will need to have data and analytics as part of their overall strategic analysis.

Analysts continue to address single-family foreclosure-to-rent properties as an emerging asset class, but there is consensus this segment of the REO market is on solid growth mode.