Servicing

Integra Group Real Estate said that through the first six months of 2012, its transaction volume increased 28% compared to the same time period a year ago even though overall REO sales in the region dropped.

The Treasury Department unveiled a bold new plan to speed up the dissolution of Fannie Mae and Freddie Mac, saying the two can no longer retain profits and must reduce their massive portfolio holdings at an annual rate of 15%.

Starting in September Bank of America has agreed to use the Web portal of Hope Now, in a move the alliance sees as “a game changer.”

The latest legal cases and regulatory actions from around the nation.

The Department of Housing and Urban Development and its auction advisor, DebtX, have set an auction deadline of Sept. 12 for investors to submit sealed bids on $1.7 billion of nonperforming residential loans.

Bank of America’s alliance with Hope LoanPort may give a new boost to the number of modifications completed hereon.

Data on the loans municipalities are being advised to target show fewer underwater mortgages are defaulting and when borrowers stop paying, modifications increasingly include balance cuts.

Sylvan Road Capital will buy and renovate single-family housing units and convert them to rental properties in order to help stabilize communities and provide employment opportunities.

The Consumer Financial Protection Bureau's proposed new rules for mortgage servicing were written primarily for the largest players, but it is the small servicers that will have the hardest time absorbing the costs.

The average Freddie Mac rate for a 30-year mortgage climbed three basis points during the week ending Aug. 16 as the 10-year Treasury bond yield hit a high not seen since May.