Servicing

Know Your Options Customer Care is a customer engagement strategy and training program for servicers in order to prevent foreclosures by developing consultative relationships with struggling homeowners.

Citigroup executives remain very guarded about the outlook for the housing market and they have no immediate plans to reduce their reserves for possible mortgage losses.

Two property owners asked the U.K. Supreme Court to overturn a ruling that a 1967 law enabling long-term leaseholders to forcibly buy their homes at market prices should apply to buildings used as businesses.

The benchmark 10-year Treasury’s yield matched its all-time low of 1.44%, putting more downward pressure on long-term mortgage rates.

The Prestwick Mortgage Group is offering $58 million in private investor multifamily/commercial servicing from an undisclosed private mortgage company.

Mary Armstrong, an unlicensed mortgage broker, Teresa Rose, a real estate agent, William Fountain, Armstrong’s assistant, and Justin Mensen were all charged with conspiracy to commit wire fraud and to launder money.

Lenders Compliance Group is using Veros Real Estate Solutions' collateral integrity analysis product for prefunding and post-closing audits, early payment defaults, high default due diligence, as well as warehouse bank and portfolio reviews.

While Fitch believes that housing trends may see some stabilization, further weakening could result in a reversal in mortgage reserve releases or provisioning.

Programs help qualified homeowners prevent foreclosure because of unemployment, underemployment, catastrophic medical costs, divorce and other life-changing events.

With servicing multiples as low as they’ve been over the last 18 months, the head of Edison, N.J.-based Real Estate Mortgage Network Inc. has decided to take advantage of the situation, growing its portfolio by starting a correspondent lending division. The new unit will operate out of its new Irvine, Calif. wholesale fulfillment center.