Servicing

RealtyTrac, a Web-based foreclosure database firm, appointed Jamie Moyle as chief executive officer.

National Mortgage Insurance Corp. is the second new mortgage insurance firm to emerge in the past three years, the other is Essent Guaranty, which has backing from Goldman Sachs.

So far this year, 39 banks have shut down. This is down substantially from 61 and 108 that closed during the same time period a year ago and through July 2010, respectively.

Chicago Mayor Rahm Emanuel on Tuesday shot down the idea of using eminent domain to seize underwater mortgages.

Nationstar reported a $36 million quarterly profit on Tuesday, though its immense growth and operational developments greatly overshadowed the dollars and cents of its earnings.

Analysts are warning that, if implemented, the new mortgage servicing rules proposed by the Consumer Financial Protection Bureau could lead to further market consolidation.

The mortgage servicing market has been experiencing a continued consolidation trend in the recent past.

Amalgamated, a New York-based trade union owned bank, has giving up outsourcing loan originations and has brought the process in-house.

The Federal Housing Finance Agency reported that all Fannie Mae/Freddie Mac seller-servicers originated 243,000 Home Affordable Refinance Program loans in the second quarter, which represented 24% of total refinancing volume.

According to a sample of survey figures being collected by NMN, some firms grew their mortgage servicing rights' portfolios by fourfold or more over the past 12 months.