Servicing

The average rate for a 15-year fixed rate mortgage set a new record low and the average 30-year FRM rate slid a bit to a point not far from its bottom in Freddie Mac's closely watched primary market survey.

Safeguard Properties has launched an online series of free, educational videos that describe the role field service businesses play while working with mortgage servicers and investor clients.

As servicing fraud schemes rise in which scammers are taking advantage of distressed borrowers, it is important for lenders to step up their efforts in detecting and preventing these false scams from taking place.

The Prestwick Mortgage Group will auction off a $13 million portfolio of bulk Freddie Mac residential servicing rights owned by a national bank.

In a recent ruling, the 6th Circuit Court of Appeals determined that mortgage servicers have the right to protect and maintain their collateral interest in defaulted and foreclosed properties prior to the property going to sale—validating the work field service companies perform.

The Federal Housing Finance Agency is expanding its on-site examination teams at Fannie Mae and Freddie Mac to monitor their servicing activities while taking a closer look at risks posed by counterparties.

A Mortgage Bankers Association analysis of data from the Federal Deposit Insurance Corp. shows that commercial and multifamily mortgages "have fared better through the credit crunch and recession than any other major type of loan held by banks and thrifts" in some respects.

Walter Investment Management Corp. lost $4 million in the fourth quarter and $69 million for the year because of costs tied to its purchase of Green Tree Servicing, St. Paul, Minn.

Home prices fell 1.2% in January, following a 1% decline in December, according to preliminary figures compiled by Lender Processing Services.

The 9.37% CMBS delinquency rate in February was lower both sequentially and compared to year-ago monthly figures by Trepp LLC's measure, but the company notes that whether this is a true sign of improvement depends in part on the fate of paying loans that are past their maturity date but have not yet been modified, refinanced or foreclosed upon.