Servicing

First Guaranty Mortgage Corp. has begun rolling out 203k home rehabilitation loans to National Association of Real Estate Brokers working with clients in urban communities that have been impacted by the ongoing mortgage crisis.

CoreLogic released numbers showing there were 63,000 completed foreclosures in May, compared to 77,000 finished foreclosures during the same time period last year.

The nomination deadline for the 2012 Mortgage Technology Awards has been extended until 12 p.m. EDT Tuesday, July 10.

Fannie Mae’s mortgage purchases rebounded 30% in May after acquisitions plummeted 45% in April, while Freddie Mac released numbers showing a similar rebound in mortgage purchases for May.

David H. Stevens, the president and chief executive of the Mortgage Bankers Association, will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.

The stock market soared upwards on Friday morning and that rising tide also brought up many stocks associated with the mortgage industry.

The members of the Mortgage Insurance Cos. of America wrote $8.7 billion in primary new insurance during May, compared with $7.1 billion in April and $3.9 billion for May 2011.

An independent government watchdog has a sharp message for the federal agency that must decide whether to allow principal reductions on hundreds of thousands of government-backed mortgages: Time's wasting.

CitiMortgage has introduced a reduced mortgage payment program for qualifying servicemembers who have to permanently relocate and need immediate financial relief.

The FHFA said that half of all borrowers who received loan modifications in the first quarter had their monthly payments reduced by over 30%, and one-third included principal forbearance.