Servicing

Over the last 10 years, $23.7-billion State Employees' Credit Union in Raleigh, N.C. has not had a single mortgage handed back to it by an investor due to poor underwriting.

In 1848, the discovery of gold in California proved to be one of the most significant events in U.S. history. The dream of striking it rich and reaping the benefits of copious finds held a strong allure for many adventurous risk takers. Today, investors armed with reams of data and metrics, and that same adventurous spirit, are looking at the foreclosure to rental property market with that same gleam in their eyes.

The Consumer Financial Protection Bureau wants to make mortgage servicing more consumer friendly so borrowers will be given advance notice of interest rate adjustments and how to avoid costly forced-placed insurance.

643 Capital Management, a private investment firm focused on debt and equity strategies in distressed real estate, has cut off ties from McKinley Capital Partners and formed its own company.

National home prices declined in January from December by 0.9%, reaching a level not seen since March 2003, according to Lender Processing Services.

Massachusetts' new "Right to Cure Your Mortgage Default" notice has been voluntary, but starting next month it becomes mandatory.

After having gone through an enormous disruption characterized by unexpected deterioration and massive losses, investors in residential mortgage-backed securities have a number of reasons to feel unsettled.

HAMP servicers completed 22,260 loan modifications in February, up 24% from the prior month, according to a Treasury Department report.

The Federal Reserve Board is opening the door for banks to rent REO properties in an effort to slow sales of distressed properties that are contributing to downward pressure on home prices.

Joseph Smith has assumed his duties as the monitor for the $26 billion foreclosure settlement and he will be responsible for making sure five mega-servicers live up to the terms of the agreement and reform their servicing and foreclosure practices.