Servicing

The servicing rights of Residential Capital Corp. could fetch just over $1 billion.

The amount of capital required of depositories to hold residential mortgage servicing rights would jump to 28% under Basel III proposals from 17.2% today.

Assurant said its American Security unit has reached an agreement with California's Department of Insurance to reduce rates for lender-placed insurance in the state by 30.5%.

Ginnie Mae approved 34 new issuers in fiscal year 2012 (which ended September 30), bringing the total universe of government-approved firms up to 406.

The new chairman of the Mortgage Bankers Association says the industry needs to make certain that regulators understand that to go beyond consumer protection into excessive credit constraints will damage the housing industry.

RES.NET is promoting new updates it has made to its short sale portal that potential clients can utilize to improve their business.

SunTrust would have earned a record high of $152 million on mortgage banking in the third quarter if not for loan buyback reserves.

Residential Capital Corp. will be sold through an asset sale with possibly $4 billion in proceeds going to the bankruptcy trustee.

Fannie Mae and Ginnie Mae are seeking to protect taxpayers as a flood of new lenders apply to do business with them.

Mortgage Bankers Association president and CEO David Stevens declared that Fannie Mae and Freddie Mac should go through the same rule-making process as any other government agency while they are in conservatorship.