Servicing

The nation’s five mega-servicers told their attorney general settlement monitor that they modified $10.5 billion of home mortgages for 137,850 troubled borrowers between March 1 and the end of the second quarter.

Any quarter now Fannie Mae will crank up its nonperforming loan auction machine, giving bottom fishers across America a chance to bid on billions of dollars in nonperforming mortgages guaranteed by Uncle Sam.

When it comes time for field service companies to make improvements to bank-owned homes, one of their main objectives is minimizing the cost servicers have to pay for the completed repairs.

The Mortgage Industry Advisory Corp. is set to auction off $59.2 million of subprime residential mortgages—much of it performing.

A mortgage fraud alert was recently issued to the armed services community to combat scams targeted at homeowners seeking to apply for mortgage assistance through the Home Affordable Modification Program.

The Consumer Financial Protection Bureau maintains it doesn’t want to impose burdensome or unnecessary regulations on small mortgage bankers and depositories that service home mortgages, but few in the industry believe the agency.

The software-based program can be customized to meet each servicers different workflows, thereby enhancing compliance, performance and borrower experience.

Alternative resolutions continue to drive a national decrease in the number of completed foreclosures.

The REO market remains hot, and so are business process management solutions that enable servicers to gain control of processes.

Market interest in launching REO-to-rental securitizations has increased over the past several months, driven partly by the sizable inventory of real estate owned properties.