Servicing

The Obama administration has opened the door for nearly 1 million existing FHA borrowers to refinance by encouraging lenders to originate more 'streamline' refinancings. But will it happen?

Refinancing to modify a mortgage loan has proven to be the best solution for some borrowers, even though the list of mortgage loan options available shrunk significantly during the past few years to the point that makes some worry creativity is almost impossible, or simply dead.

The Wilbur Ross controlled American Home Mortgage Servicing Inc., Coppell, Texas, has a new name: Homeward Residential to go along with its master plan to become a full service mortgage banking firm.

JCF Real Estate ended the fourth quarter of 2011 by being named the manager on four additional properties in Illinois on behalf of a financial institution.

Mortgage technology and service provider Altisource reported net income of $26 million for the fourth quarter and earnings of $71 million for the full year.

Residential Credit Solutions, a specialty servicer and NPL investor based in Ft. Worth, this week received final approvals to issue and service Ginnie Mae I and II single-family mortgage-backed securities.

According to the office of the inspector general for the Troubled Asset Relief Program, Reginald Harper developed a scheme with Troy Fouquet, a local real estate developer, to create and use false loans to hide delinquent nonperforming loans.

Recently, we called a trader of nonperforming loans who said quickly, "Can't talk right now. Way too busy." Later on we finally spoke and the message delivered was quite clear: the market for underperforming and nonperforming mortgages appears to be gathering steam.

Investors seeking to buy and then rent foreclosed properties from Fannie Mae and Freddie Mac have raised at least $2 billion in the last six weeks, according to housing analysts at Morgan Stanley.

Even though mortgage rates continue to fall, California homebuyers are not taking advantage of this historic opportunity.