Servicing

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.

Fidelity National Financial saw a 30% increase in business as new residential title orders in the second quarter totaled 667,500 versus 514,000 in 2Q11.

CoreLogic earned $41 million off revenue of $389 million during the second quarter of 2012—new records for the company which was spun off from the First American Corp. in June 2010.

Wells Fargo, the country’s largest wholesaler, joins JPMorgan Chase in jettisoning wholesale.

At least two bidders remain for the $30.8 billion of Freddie Mac mortgage servicing rights once owned by the now-defunct Taylor, Bean & Whitaker.

Even Beverly Hills has distressed assets. But commercial real estate advisory firm Lucent Capital has come to the rescue—yet again.

When it comes to automation technology, servicers are faced with a myriad of choices between traditional, in-house software versus vendor-hosted services, or software-as-a-service delivery options.

Economists have been expecting long-term rates to remain low this year because the Federal Reserve recently extended its Operation Twist program, maintaining downward pressure that the program puts on long-term rates.