Servicing

Bank-owned homes have seen a 5.5% increase in prices from a year ago, while fair market homes dropped 2.9%, Clear Capital said in its monthly home data index market report.

Fannie Mae and Citibank officials were developing a principal reduction pilot program that was supposed to go live in July 2010 when it was “mysteriously” stopped and later terminated.

Flagstar Bancorp Inc. lost nearly $9 million in the first quarter, but that is an improvement over the loss of $78 million in the fourth quarter last year and $32 million in 1Q11.

Radian Group Inc. lost $169 million in the first quarter, as the company's mortgage insurance business had a pretax loss of $45 million for the period.

The New York Mortgage Coalition has provided a grant to the Coalition for the Improvement of Bedford-Stuyvesant to help protect homeowners with property tax liens from foreclosure.

n this season of high political drama it is not really surprising that potential candidates, as well as a myriad of federal agencies, are all jockeying for the most complimentary spot in the limelight. The National Fair Housing Alliance is no exception.

The real estate owned-to-rental niche currently may be "the world's biggest $0 billion industry," as Rick Sharga of Carrington Mortgage Services said at the recent SourceMedia Mortgage Servicing Conference in Dallas, but it should start to grow.

Industry veteran Tony Renzi, who joined Freddie Mac last spring as part of a major organization at the GSE, has resigned from the company effective May 11, according to a new SEC filing.

Nearly 50% of banks are not participating in the HARP 2.0 program and only 30% are actively soliciting applications, according to a Federal Reserve Board survey.

Compliance within the financial services industry impacts the entire organization and is key to the bottom line for firms currently operating in the mortgage space. Comprehensive compliance risk management strategies are required to meet compliance obligations and also protect customers, employees and shareholders.