Servicing

The New York State Assembly passed a bill that protects homeowners from fraudulent business practices like robo-signing from taking place during the foreclosure process.

Fitch Ratings has issued the first of a series of reports that address recent investor allegations about “servicer specific deficiencies.”

Among the strongest industry rationales for a national mortgage servicing settlement was that it would break the legal stalemate over a huge backlog of delinquent loans.

Six out of 10 homeowners who received a loan modification stopped paying their mortgage again after 18 months, but there may be a modest silver lining buried in the high recidivism rates.

The oversupply of homes currently on the market will prevent sustained home price gains for an extended period of time, possibly for at least the next 18 months.

Pricing remains the biggest stumbling block in the sale of assets backed by commercial mortgage loans, according to panelists at SourceMedia’s Buying and Selling Distressed Mortgage Portfolios Conference in New York.

Because IT requires a truly specialization of skills and experience, lenders and servicers should partner with experienced vendors.

As investors look to capitalize on distressed mortgage portfolio opportunities, loan document questions and the role of MERS continue to arise.

The Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac not to pursue any deficiency judgments against members of the military if they are forced to short sale their home and if the mortgagor is required to move as part of their duty.

Mortgage cases are shifting to become more fact-intensive, rather than legal-intensive, meaning investors’ attorneys need witnesses to explain the circumstances in a case.