Servicing

Fannie Mae Chief Economist Doug Duncan explains the impact of the eurozone crisis on the mortgage industry.

In late October $365 billion of mortgage servicing rights belonging to Residential Capital Corp. will be auctioned off to the highest bidder.

A new report from the Federal Housing Finance Agency inspector general on Fannie Mae’s MSR deal with Bank of America also confirms that the GSE tried to buy specialty servicer Litton Loan Servicing.

A law firm that won an $8.5 billion settlement from Bank of America Corp. tied to faulty mortgage bonds said Wells Fargo and Morgan Stanley failed to service $73 billion of similar securities, creating a default.

Mortgage Builder is set to release the latest version of its loan origination system.

Does a borrower whose mortgage is underwater have an obligation to continue paying their monthly loans if they have the ability to do so? There are different viewpoints to this question.

The overall efficiency of servicers working on delinquent subprime loans improved modestly during the second quarter, reinforcing a recent trend that is likely to continue.

When Fannie Mae agreed to pay Bank of America $512 million to buy the right to administer 384,000 loans last year, members of Congress questioned the size of the payment to the beleaguered servicer.

The Office of the Comptroller of the Currency issued new guidance to federally chartered banks and thrifts that are lending money to investors who buy real estate owned with the idea of turning those units into rentals.

Two Citigroup Inc. executives are departing after federal prosecutors named them earlier this year in a mortgage-insurance fraud case.