Servicing

The Federal Housing Administration is bracing for a large spike in insurance claim payments now that servicers have adjusted to the requirements of the $25 billion robo-signing settlement with the nation’s attorneys general.

It takes an average of 56.3 months, or almost five years, from a missed payment to the liquidation of a mortgaged property in New York.

JPMorgan Chase recently dismissed 74 employees in Florida as the lender shuffles staff to accommodate demand for mortgage refinances.

The House passed a bill that requires the Federal Housing Administration to submit a plan to Congress on how it intends to avoid a government bailout of its financially strapped mortgage insurance fund.

Distressed asset liquidation timelines will continue to coerce the decision making process for both lender-servicers and homeowners.

Demand for foreclosed properties is heating up in certain markets where the supply is shrinking at increased speed.

Government entities, investors and lenders are embracing efforts to minimize foreclosure related losses by keeping properties occupied.

The Revitalizing Auto Communities Environmental Response Trust recently reached an agreement to sell the former General Motors Mansfield-Ontario Stamping Plant to the Brownfield Communities Development Company.

Bankers are mounting their support for national efforts to build up a much-needed financial literacy foundation.

A trio of vendors that play in the nonperforming loan space have formed a cooperative to unload NPLs to Realtors seven days before they are offered to the public.