Servicing

Implementing eminent domain may present inconsistencies in solving the root cause of the housing problem in the U.S., create unintended consequences for both borrowers and investors, and inadvertently limit mortgage lending activity, Standard & Poors said in a report.

U.S. residential properties sold at an estimated annualized pace of 5.5 million in July, which is up 11% from last year.

LaTanya Moore-Newsome, a real estate agent with Century 21 in Atlanta, has been calling Wall Street-backed landlords for months on behalf of her low-income clients with government housing vouchers.

Independent banks and their subsidiaries reported loan profits of $1,528, which is down from $1,772 on loans originated in the first quarter.

Approximately 12.2 million homeowners with a mortgage were in negative equity at the end of the second quarter.

As the industry works feverishly to interpret new guidelines pouring out from the CFPB, there are a large number of changes that must get done between now and the end of this year.

As the housing market continues to recover, the foreclosure inventory is declining quickly, data from a CoreLogic report revealed.

Mortgage purchases by Freddie Mac fell nearly 13% in July compared to June but the share of refinancings remained steady at 69%.

Mortgage stocks rallied back on Wednesday albeit not in a big way as almost half of the companies in the Mortgage Industry Equity Index traded up driving the sales volume down.

A million dollar residential closing has been postponed on Long Island, N.Y. because of problems obtaining homeowners insurance.