Servicing

Mortgage Technology is pleased to begin accepting nominations for the 2012 Top 50 Service Providers.

Wells Fargo & Co. reported strong earnings from its mortgage banking operation in the first quarter with residential originations more than doubling from a year ago and non-interest income climbing 42%.

Field service companies need to maintain a quality vendor network to complete property preservation work effectively and to show theirs and their clients’ commitment to strengthening communities across the country.

JPMorgan Chase reported strong mortgage results for the first quarter, noting that residential applications rose 33% from the year ago period with chairman and CEO Jamie Dimon declaring that housing is "very close" to a bottom.

It's no secret that nontraditional players have been gobbling up mortgage servicing rights on the cheap, shifting the power structure in a business that has rapidly seen its fortunes wane during the nation's housing depression.

Mortgage Technology is pleased to begin accepting nominations for the 2012 Top 50 Service Providers. The nomination form is available on MT’s website. The final deadline for nominations will be 6 p.m. EDT Friday, May 4, 2012.

Three banks suing MBIA Inc. accused the bond insurer of deliberately withholding damaging financial projections from insurance regulators who were evaluating its transformation.

The need for sensible subprime residential lending (hard money, call it what you may) has never been greater, but I would venture that less than $1 billion of these loans were originated last year, and maybe that's a generous estimate. I know of a few mortgage executives who have tried in vain to raise private equity money but with no luck.

Credit unions could be hurt by a proposal that would allow Fannie Mae and Freddie Mac to write down the principal on millions of underwater mortgages, industry leaders warned this week.

Like many controversies, mortgage lenders' use of force-placed home insurance arose from what was once a well established and unquestioned practice. For many years, homeowners who failed to maintain property insurance could count on their banks buying it for them and passing on the cost.