Servicing

The Department of Housing and Urban Development has launched its first housing discrimination mobile application.

Freddie Mac is lining up more lenders as it rolls out a program to provide financing for its REO sales across the country.

Servicers are performing origination functions, often using laid-off originators to do the work.

A big gain in servicing fees propelled Ocwen Financial in the fourth quarter.

The members of the Mortgage Insurance Cos. of America wrote $10.5 billion in primary new insurance in January, down approximately 2% from $10.7 billion in December, but more than double the almost $5 billion written in January 2012.

Data show the distressed asset inventory is dwindling down simultaneously, opening the way to a sustainable housing recovery and gradually closing what appears to be a window of opportunity in short sales.

The explosion in the number of REOs became a great way for investors and consumers to purchase properties for a steal.

Fannie Mae and Freddie Mac have agreed to honor New York Gov. Andrew Cuomo’s request for new rules to accelerate the release of insurance proceeds to homeowners affected by Hurricane Sandy.

Discontinued operations lead to Impac having a net loss of $3.4 million for 2012, compared with net earnings of $3.2 million in 2011.

Regulators reached the settlement last month for foreclosure faults after a U.S. housing-market collapse contributed to the worst financial crisis since the Great Depression.