Servicing

Conix Inc. completed a record second quarter by acquiring $112 million worth of distressed real estate.

The California attorney general said three business owners who ran a national loan modification scam for over a year have to pay a least $4 million in restitution.

The Consumer Financial Protection Bureau is setting up special advisory boards to get input from small banks and credit unions on regulatory policies.

Company leaders think the REO-to-rental strategy is the future wave of the industry since most Americans, particularly young adults, do not view homeownership as a stable investment.

The field service company’s contractors can make face-to-face contact with a borrower to help determine if he or she is actively serving in the military.

Special servicers work with information from multiple sources and they have to ensure quick and accurate dissemination of that data within its organization, which creates numerous data management challenges.

Forget refinancing. A new hypothesis suggests targeted modifications would be much more effective in easing the negative equity crisis.

Bank of America is offering $22 million in grants to nonprofit agencies across the country that offer foreclosure prevention services and build and repair affordable housing.

Mortgage vendor Nationwide Title Clearing is continuing to hire new employees, adding 66 full-timers in the second quarter.

By now you’ve read the stories on the National Mortgage News website about private equity sniffing around the mortgage industry the past two years – and the chatter about some firm with $1 billion to spend. We don’t yet know the name of that fund but it’s interesting gossip nonetheless.