Servicing

Bruce Felt brings nearly 25 years of experience in financial operations and management in the technology sector to the web-based acution company.

Under the deal, the 10 servicers will pay $3.2 billion to borrowers and offer an additional $5.5 billion in unspecified "other assistance."

In purchasing the servicing rights to 650,000 Fannie Mae loans from Bank of America, Walter Management is looking to refinance over 45% of those loans through the Home Affordable Refinance Program.

The housing industry is starting 2013 off on a positive note as the number of improving markets rose for the fifth straight month.

Almost 55% of the loans financed through a commercial mortgage-backed security execution reaching their balloon date were paid off in December.

The recent sale of a nearly vacant mall in Kentucky serves as a good case study in unwinding troubled loan participations.

Some servicing technology related assets will be accounted for in this transaction, but no mortgage loans or mortgage servicing rights.

Prices for the commercial real estate loans that comprise mortgage-backed securities rose in November.

Federal bank regulators have reached an agreement with 10 of the 14 banks conducting independent foreclosure reviews.

Bank of America has entered into a $10.3 billion settlement with Fannie Mae to resolve repurchase issues involving nearly $300 billion in mortgages that B of A and Countrywide sold to the GSE from 2000 through 2008.