Servicing

Richmond, Calif.’s plan to keep homeowners out of foreclosure by seizing underwater mortgages through eminent domain is unlikely to be successfully implemented, according to Moody’s Investors Service.

Ethics concerns raised by House lawmakers about Raj Date, the former No. 2 at the Consumer Financial Protection Bureau who left to form his own firm, appear overblown.

First Financial Network Inc. is offering two loan portfolios from two unnamed sellers.

Including distressed sales,—short sales and real estate owned properties—the CoreLogic Home Price Index report jumped 1.9% from May to June.

Nationstar Mortgage Holdings reported net income of $123.4 million for the second quarter, up from $36.3 million a year ago.

The Obama administration will be calling on Congress to pass legislation that will allow Fannie Mae and Freddie Mac to refinance underwater loans in private label securities.

The speed of homes entering the market being sold is slowing as inventory starts to creep up, Redfin’s June Fastest Markets report claims.

There were 12 of the 17 Mortgage Industry Equity Composite stocks which lost value on Monday.

The grants are part of the bank’s pledge to invest 10% of its profits in the development of affordable owner-occupied and rental housing for very low- to moderate-income families.

The pool of high-balance, high-credit quality GSE loans have already been refinanced via the Home Affordable Refinance Program.