Servicing

Mortgage people need to toe the mark or CFPB may tow it for you.

The November 2012 CoreLogic National Foreclosure Report shows the number of completed foreclosures in the U.S. dropped 6% month-over-month.

Congressional efforts to reduce the U.S. deficit revived tax breaks for mortgage insurance and extended interest deductions for homeowners that will cost the government $600 billion over five years.

The Federal Housing Finance Agency said that Fannie Mae and Freddie Mac were responsible for completing more than 134,000 foreclosure prevention actions in the third quarter of 2012.

Savvy investors rushing to take advantage of current and long-term foreclosure-to-rental market opportunities may stumble upon an unexpected barrier: data.

Flagstar Bancorp Inc., Troy, Mich., is selling a portfolio of commercial loans, including commercial real estate loans, to CIT Bank for $779 million.

After months of steady ups and downs, the delinquency rate for commercial mortgage-backed security loans has finally hit a wall.

The average 30-year rate is down one basis point from last week at 3.34% and the rate for 15-year borrowers also is one basis point lower at 2.64%.

Delinquency rates on second mortgages and home equity lines of credit have been rising this year.

Although mortgage servicers hire field service companies to preserve these properties, the property will deteriorate without a tenant or occupant no matter how much maintenance work is completed.