Servicing

Major servicers still find it difficult to provide troubled borrowers with timely notice that more documents are needed to process a loan modification application.

ServiceLink has made available a multipurpose tool designed to ensure the mortgage loan data lenders and servicers report and record electronically is accurately transferred and in compliance with regulators.

Mortgage stocks go along for the ride as 13 of 17 Mortgage Industry Equity Composite listings close higher.

Values in the $900 billion non-agency market are slumping after soaring through early May as the Federal Reserve’s stimulus efforts drove investors to seek potentially higher returns and housing rebounded with the fastest gains in prices since 2006.

The owner of a California mortgage brokerage company was sentenced to three years in prison and ordered to pay more than $5.8 million in restitution for her role in a real estate-related wire fraud conspiracy.

These grants are expected to assist more than 1.6 million households in their efforts to find affordable housing, make more informed housing choices and avoid foreclosure.

PennyMac Financial Services is now using a new platform developed by Quandis to enable the mortgage services firm to centralize the short sale process into one portal for multiple users.

Less than 1% of FHA single-family loans originated in June 2011 through May 2013 are 90 days or more past due.

Recent gains in home prices are unsustainable, but “it’s premature to describe the market as being in a bubble” as home values remain below their pre-recession peaks and prices are expected to continue to rise this year, said Standard & Poor’s.

There is $2.41 trillion in outstanding commercial and multifamily real estate at the end of 1Q13, a decline of $4.9 billion from 4Q12, according to data compiled by the Mortgage Bankers Association.