Servicing

Credit quality improved in all major loan categories at commercial banks, savings banks and thrifts, except for single-family loans, according to the Federal Deposit Insurance Corp.

Up to 90% of the borrowers underwater are current and continue to pay their mortgage on time.

New regulations have, and are expected to continue to impact the commercial real estate mortgage servicing industry, while process redesign and technology implementations are helping organizations improve efficiency, expand offerings and in many cases, retain staff.

LemonDrop, a networking group for women mortgage industry professionals, held a reception at the Arizona Biltmore Hotel in Phoenix during the Mortgage Bankers Association’s technology conference in April.

The average weekly rate for a 30-year fixed-rate mortgage in Freddie Mac’s primary market survey held steady at its record low of 3.78% during the week ending May 24.

The three outside investors in Republic Financial Indemnity Group are George Cochran, chairman, financial institutions group at Macquarie Capital Advisors; David Kimmel, managing partner of Summit Capital LLC; and James W. Schacht, president of the Schacht Group.

The Federal Reserve Board is using YouTube to try to reach more borrowers who may be eligible to have their foreclosure files reviewed as part of consent agreements with the 14 largest mortgage servicers.

Loan origination system vendor Mortgage Builder said it will acquire GCC Servicing Systems, the mortgage servicing technology vendor that it was spun off from in 1998.

With all the complexities involved in the management of distressed real estate assets, Wingspan Portfolio Advisors president Steven Horne said his company finds a literal overview of all of them is useful in drawing up strategies for handling the work.

Nearly two months into the spring homebuying season, there are signs throughout the country that the housing market is making positive strides toward a recovery.