Servicing

Donna DeMaio, most recently the president and chief executive of MetLife Bank, has joined United Guaranty Corp. as its chief operating officer.

Residential home values experienced a meager 0.2% increase in February with the average sales price coming in at $195,000, according to new figures compiled by Lender Processing Services.

A major shake up in the senior ranks at Arch Bay Capital has taken place with several departures from the company, according to three nonperforming loan investors that have conducted business with the firm.

Two bank-owned apartment complex assets have been sold in separate transactions by an investment sales team at Newmark Grubb Knight Frank on behalf of a purchaser and a receiver.

If the amendment were to become law, it would impact the posture of the Justice Department in any future negotiations with smaller mortgage servicers that did not participate in the recent settlement with the five largest servicers.

Lenders and investors at this week’s secondary market conference in New York were interested in a question that’s been on target for at least the past three years: Where is the nonconforming secondary market? When will it show up again? When should mortgage packagers start their engines?

The Federal Reserve Bank of New York has sold the entirety of the TRIAXX CDO holdings from its Maiden Lane III portfolio to Merrill Lynch, Pierce, Fenner & Smith after a competitive bid process.

Many foreclosed properties sell at far lower prices because servicers and investors often fail to carry out repairs and take full advantage of insurance coverage when properties sustain insurable damages.

Specialty servicer Walter Investment Management Corp., Tampa, Fla., earned $5.1 million in the first quarter, a 46% jump from the same period a year ago as its servicing business threw off a large amount of cash flow.

Newcastle Investment Corp. is “very optimistic” it will participate in a big investment in mortgage servicing rights with other entities that its manager oversees.