Servicing

This represents the first time the Washington, D.C.-based agency has received funding from a state for legal assistance.

Revel AC Inc. has reached an agreement with the majority of its lenders that will allow the Atlantic City casino hotel operator to enter into a prepackaged Chapter 11 bankruptcy reorganization.

January’s first-mortgage defaults declined 10 basis points from December and 50 basis points from January 2012 to 1.58%.

State regulators want to work with the Consumer Financial Protection Bureau to ensure servicing transfers don’t disrupt loss mitigation efforts and harm troubled homeowners.

Radian Group Inc. came out of the President’s Day holiday strong, as its stock set a new 52-week high in Tuesday trading.

Fiserv introduced LoanComplete at the MBA’s National Mortgage Servicing conference in Dallas after 12 months of being in pilot phase.

Newcastle Investment Corp. has completed the sale of 23 million shares of its common stock under its existing shelf registration, generating about $241 million in proceeds with which it is likely to engage in more real estate-related investment.

In the 23 years I’ve been following the mortgage finance industry, many proposals have been made to scale back or even eliminate the mortgage interest deduction.

Ally Bank has sold its correspondent and wholesale mortgage production operations to Walter Investment Management Corp.

Home Affordable Refinance Program refinancings rebounded 42% in November from the prior month as GSE seller/servicers refinanced 129,550 Fannie Mae and Freddie Mac loans with LTVs above 80%.