Servicing

New Yorkers Paul and Angelica Kashman, declared in default on their mortgage in July 2010 and foreclosed on by Wells Fargo & Co. in February 2011, say they aren’t deadbeats.

Houston’s Envoy Mortgage is the latest independent mortgage banker to step into an area where the bigger banks are abandoning or cutting back correspondent lending.

Moody’s Investors Service has withdrawn ratings on $122 million of pre-2005 residential mortgage-backed securities deals issued between 1996 and 2004 as cash flows from these older deals have diminished to very low levels with age.

Following “a banner year for the multifamily market” in 2012, another good year is ahead—if capital becomes available.

First Financial Network announced an $85 million loan sale of several assets held by the failed NOVA Bank for which the Federal Deposit Insurance Corp. is acting as receiver.

Despite the residential delinquency rate rising in December, the foreclosure presale inventory fell.

The number of mortgages in the process of foreclosure but with no resolution for all loan types improved during the first three quarters of 2012.

The Treasury Department is considering ways to help underwater borrowers with private mortgages to refinance into a lower interest rate and reduce the risk of default.

Servicers need to pay more attention to changes in home prices and how they relate to delinquency rates.

While pending regulation and other government actions make trends a bit of a moving target, on a net basis they currently argue for a continued increase in subservicing work this year.