Servicing

Bank of America, Citigroup and JPMorgan Chase all flunked Fannie Mae's test of mortgage servicers, failing to meet even the minimum requirements for performance in 2012.

Wells Fargo's home-loan unit has sold a portfolio of reverse-mortgage servicing rights to Walter Investment Management.

According to the Lender Processing Services Mortgage Monitor report, approximately 500,000 loans cured in February alone.

Fannie Mae and Freddie Mac seller/servicers completed nearly 97,600 Home Affordable Refinancing Program refinancings in January, up 28% from the prior month.

Starwood Property Trust Inc. has priced a 26.5 million share offering of its common stock for gross proceeds of $732.5 million.

Fannie Mae started rating its servicers two years ago and not one has reached the level of performance to be considered a five-star servicer.

Hudson Realty Capital has funded a $16 million first-mortgage loan for a newly constructed, vacant multifamily property in Brooklyn.

Detroit has been on the decline for decades thanks to plummeting property values, lost jobs and crime.

For the eighth straight quarter, overall median sales price in Miami-Dade County has gone up year-over-year.

Value Services LLC changed its name to reflect its renewed focus on residential and commercial property appraisal services.