Servicing

My mortgage finance career has been focused on avoiding nonperforming assets or REO although unforeseen circumstances invariably result in some.

Next week Residential Capital Corp. will be auctioned off to the highest bidder. M&A advisors are predicting Nationstar will prevail.

With millions of homes currently foreclosed upon nationwide, there is potentially a second foreclosure crisis looming that could deteriorate the housing industry even more: the tax lien sale.

A Virginia businessman who participated in an elaborate fraud scheme that led to Bank of Commonwealth’s collapse has been sentenced to 14 years in federal prison.

Oklahoma has issued the first compensation checks to residents who lost their homes after lenders assured them their loans would be modified.

Lender Processing Services has reached a settlement with the Delaware attorney general related to the state’s investigation of robo-signing practices by the company’s subsidiary DocX.

Fannie Mae/Freddie Mac servicers refinanced 26,950 mortgages with loan-to-value ratios above 125% in August, compared to 26,650 in July.

Bank of America lost money on mortgage banking in the third quarter but only because of charges tied to its legacy business.

The Department of Justice is continuing to pursue Federal Housing Administration lenders for past underwriting sins in an effort to hold them accountable and produce sizable settlements to bail out the government’s mortgage insurance fund.

Nearly 76,000 homeowners received permanent, affordable loan modifications from mortgage servicers in August.