Servicing

The Treasury Department announced Sunday that it is getting ready to sell $18 billion of the stock it purchased in American International Group, a move that will result in the government owning less than 20% of the insurance conglomerate.

Nationally, 18% of residential borrowers who are current on their loan payments are underwater, ranging from a low of 0.4% in Wyoming to 55% in Nevada.

The California firm pushing municipalities to seize loans for borrowers owing more than their homes' values, said it would expand its proposed program to include delinquent and defaulted debt.

Eminent domain for underwater loans and laws affecting foreclosures do impact loan originators, said the board of the California Association of Mortgage Professionals.

Colony Financial in Los Angeles seeks to raise as much as $150.9 million through a common stock offering and use the funds to repay a revolving credit facility.

U.S. state attorneys general are pressing four regional banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors earlier this year

Lender Processing Services said its president and CEO Hugh Harris underwent a surgical procedure to remove a tumor from his neck, noting he has a “treatable form of cancer.”

Radian Group, MGIC Investment Corp. and Genworth Financial—saw substantial increases in their stock prices Friday, one day after Radian released robust monthly results.

Want to sell your mortgage company? What will your tax rate be next year?

Fannie Mae and Freddie Mae are raising their guarantee fees—again—and some seller/servicers are wondering if it will make a Federal Housing Administration/Ginnie Mae execution more attractive.