Servicing

Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012.

The Federal Reserve Board said that the independent consultant overseeing payments to millions of consumers as part of its mortgage settlement had fixed problems that had caused troubled borrowers' checks to bounce.

The more regulators look into borrower complaints as an indicator of servicing quality, the more servicers are bound to expand borrower-related datasets and behavioral analytics to minimize loan default risk.

The Equifax March National Consumer Credit Trends report shows that a total of $43.1 billion in mortgage loan balances was written off in the first quarter of 2013.

The Federal Housing Administration has completed a sale of nearly 12,500 nonperforming loans for roughly 46% of the unpaid principal balance of the loans.

The National Foreclosure Mitigation Counseling program is making $70 million available to various agencies across the country.

The default rate on first mortgage loans improved seven basis points between February and March, with second mortgages improving by two basis points.

The number of U.S. jurisdictions that are electronically recording land and mortgage documents saw a major increase in the past 11 months jumping to 900 counties.

As mortgage fraud shifts from a refinance market to a purchase market, a major concern for lenders and servicing shops is how to get their staff ready for the upcoming trend in risk management.

The demand for homeownership has always been a primary indicator of the state of the national economy.