Servicing

In Origination News’ discussion with the officers of the Florida Association of Mortgage Professionals at its annual convention in Tampa, national housing correspondent Lew Sichelman asked how the changes to federal law have impacted the state’s education requirements and how conditions are in the various markets that make up this very diverse state.

Lender Processing Services has reached a settlement with the Missouri attorney general, dismissing criminal charges that were pending against its now-defunct subsidiary DocX.

United Guaranty Corp. earned $43 million in the second quarter, compared to a profit of $12 million in the same period a year ago as its risk-based pricing strategy bolstered its bottom line.

Freddie Mac has named Charlotte Catalfo, a 28-year veteran of Principal Residential Mortgage, as interim senior vice president in charge of operations for its single-family program.

President Obama disagrees with the Federal Housing Finance Agency's refusal to allow principal reductions on mortgages but can do little to stop it.

Intense competition with bigger banks over commercial and industrial loans has some community bankers reconsidering how much they want to engage in a price war for such loans.

In the past two years, 270 church properties were sold after a loan default, 90% of them by banks.

On July 25, U.S. District Judge Paul G. Rosenblatt sentenced Clint Bryson Rogers of Scottsdale to five years in federal prison for his role in a mortgage fraud conspiracy. Rogers pleaded guilty on Jan. 18 to conspiracy to commit the crimes of false loan application, wire fraud and money laundering.

Lenders that shift to a retained servicing model must make significant modifications to their technology and processes.

Field service provider Safeguard Properties increased its business responsibilities today by acquiring the rights to preserve and inspect Bank of America’s defaulted and REO properties.