Servicing

The multifamily sector is getting closer to the peak last seen before the beginning of the recession, according to Fitch Ratings, but “the market will not overheat.”

The inventory of vacant homes for sale fell in the first quarter to the lowest level in six years, according to a new government report which helps explain why real estate agents are complaining about the tight supply of REO properties.

There was $6.7 billion of new insurance written by members of the Mortgage Insurance Cos. of America in March, up from $5.4 billion in February and $4.4 billion in March 2011.

A surge in mortgage lending drove strong profits for banks of all sizes in the first quarter, with some banks attributing the improvement to new regulations.

HomeStreet Inc., Seattle, earned $19 million in the first quarter, because of the strong performance of its growing mortgage banking unit.

For a year now the government owned Ally Financial has kept mum on the idea of throwing ResCap into bankruptcy protection but the self imposed gag order came off late Friday night, squirreled away in the folds of a new 148-page SEC filing.

FAS Vendor University is a six-month program that features Internet-based courses and hands-on learning activities to guide vendors in performing pre-foreclosure, REO and renovation field services to the mortgage servicing industry.

Field service companies have put more emphasis on pre-sale mitigation, auditing the work they complete, and concentrating on other ways to protect the value of REO properties in pre-sale in the future.

It's no secret that there are signs of life in the 'flow' servicing market, but will these green shoots of a revival turn brown?

On the heaviest night of bank closures this year, regulators across four states on Friday shuttered a total of five institutions, bringing the year's failure total to 22 and costing the Federal Deposit Insurance Corp. more than $270 million.