Servicing

The Federal Housing Finance Agency is running into resistance from Connecticut lawmakers for its proposal to charge upfront fees on government-sponsored enterprise mortgages originated in states with long foreclosure timetables.

At the end of September, Cole Taylor's servicing contracts totaled $6.23 billion, a stunning 815% increase from the same period a year ago.

The flexibility of a component servicer provides a wide range of options, from performing complete end-to-end services, to being engaged for very specific, individual components of the process.

National home values continued their year-long climb as prices rose in October for the twelfth consecutive month.

The average 30-year mortgage rate set another record as it slid three basis points to 3.31% in Freddie Mac’s latest weekly survey.

FHA said these changes will not only assist families in keeping their homes, but will reduce the number of full claims against the FHA Mutual Mortgage Insurance Fund.

The recovery of the mortgage market relies partly on banks' ability to quickly sell the real estate properties they own to new buyers.

Mortgage application volume decreased by 2.2% on a seasonally adjusted basis for the week ended Nov. 16, according to the Mortgage Bankers Association, as rates ticked upwards for the period.

The agency issued a mortgagee letter late Tuesday eliminating many restrictions that blocked servicers from using the FHA-HAMP loan modification program to assist troubled borrowers with government-backed loans.

Prosecutors said from March to October 2009 Lorraine Brown instituted “a surrogate signing policy whereby employees signed, not their name, but the names of other employees on thousands of mortgage documents that were notarized and filed across the country.”