Servicing

The Mortgage Grapevine has an originator looking for a funding source to do a $1.12 million commercial refinance.

Arizona’s housing market, one of the nation’s four worst hit by the foreclosure crisis, is seeing constant improvements in housing prices, employment and overall recovery compared to 2012.

Despite interest rates rising, origination volume remains stable and a downward trend in delinquencies and foreclosures continues nationwide through July.

Stewart Lender Services, Houston, has acquired Allonhill LLC, a due diligence and risk management company based in Denver.

Greystone has originated a $6.6 million loan financed by the Freddie Mac Targeted Affordable Housing program.

Origen Financial Inc., who manages the residual interest in securitized manufactured housing loan portfolios, had net income of $173,000 for 2Q13, compared with a $2.8 million loss for 2Q12.

At Citizens Bank, Hoffman will be tasked with leading the marketing and business expansion efforts for the bank’s residential loan portfolio.

Federal regulators have revised a set of less restrictive risk-retention guidelines for commercial mortgage backed securities deals that could have a negative effect on refinancing and future CMBS growth.

Bank of America became the latest bank to announce major mortgage layoffs.

The Structure Finance Industry Group Inc. has filed an amicus brief in support of Wells Fargo NA’s motion for a preliminary injunction against the eminent domain plans of Richmond, Calif. and Mortgage Resolution Partners LLC.