Servicing

The Treasury Department has agreed to pay $171 million that it withheld from Bank of America, and JPMorgan Chase after the two servicers fixed problems in how they handled government-backed residential loan modifications.

Negative equity and home price volatility have turned home price protection into a desirable yet unattainable option since protecting local housing markets from future devaluation is a challenge few insurers are willing to take on.

Here's a taste of a story appearing in the Monday edition of National Mortgage News: Brian Simon, CEO of Caliber Funding, in a recent interview predicted that his company could grow originations by threefold or fourfold in 2012.

Aurora Loan Services, Denver, on Friday finally made it official - the troubled mortgage firm will no longer accept new loan registrations or locks, but will continue to service its current mortgage customers.

Principal reductions, such as those agreed to in the state AG settlement with five large servicers, may help residential MBS performance in some ways but hurt in others, according to a new report from Fitch Ratings.

The government's bulk sale initiative to turn foreclosed properties into rentals could be "counterproductive" in certain states, according to the National Association of Realtors which is demanding the initiative be scaled back.

For the first time in more than 20 years, market research and analytics firm Mortech LLC did not conduct its annual lender survey and will not publish its annual mortgage industry trends and analytical report.

Gateway Mortgage Group, Tulsa, Okla., this week launched a new correspondent lending division that will purchase conforming and government loans from depositories and mortgage bankers, with the aim of retaining the servicing rights.

What do the federal bureaucrats who run Fannie Mae and Freddie Mac know that private mortgage lenders don't?

Wells Fargo & Co. is in the market with a $270 million package of nonperforming residential mortgages, according to investors and investment bankers who play in the space.