Servicing

January data confirm that proprietary mortgage loan modifications continue to be more affordable than Home Affordable Modification Program options.

Lack of emergency savings makes borrowers three times more likely than households with such resources to pay late, and twice as likely to face a foreclosure.

The House passed a bill by voice vote that would allow banks to opt out from sending annual privacy notices to customers unless the disclosures changed from the prior year.

Loans refinanced under the Home Affordable Refinance Program declined in December to 41.1%.

Federal Reserve Gov. Sarah Bloom Raskin said the loss of equity in homes during the recession was especially damaging to low-income and minority neighborhoods.

Mortgage rates for 30-year loans rose to a six-month high after stronger-than-expected employment growth drove up yields for the government securities that guide home loans.

Home Loan Servicing Solutions entities have completed an acquisition from Ocwen Financial and its affiliates and subsidiaries of rights to receive servicing fees

Despite a modest increase in foreclosure filings on a monthly basis as of February, one housing industry analyst sees relief for the national foreclosure crisis through the end of this year and into 2014.

Chairman and CEO Doug Lebda said the mortgage business performed particularly well in the fourth quarter.

Homeowners who were victims of the severe storms, tornadoes and flooding that occurred last month in Mississippi now have full access to Freddie Mac’s mortgage relief policies.