Servicing

Zillow chief economist Stan Humphries confirmed that home prices have not hit bottom yet as values declined 1.1% in the fourth quarter last year, but there are good signs ahead for the market.

When the White House releases its fiscal year 2013 budget next week it's expected to show that the Federal Housing Administration's mortgage insurance fund is still in the black - but barely, according to mortgage insurance and former regulators who have been tracking the issue.

California Attorney General Kamala Harris and New York AG Eric Schneiderman Wednesday afternoon joined a multi-state settlement with the top five mortgage servicers, according to sources familiar with the negotiations.

Here’s a current-day dilemma to ponder: a listing agent lands a new bank-owned listing. Before marketing, the property needs an occupancy check, a clean-out, some minor repairs, and a few other maintenance items. Agent hurries to get the sign in the yard. A week or two passes before the bank approves expenses and determines list price based on BPO and appraisal.

For the first time in a year foreclosure sales outpaced completed foreclosures--which dropped by 24% at yearend 2011 contributing to a notable decrease in the foreclosure inventory. Yet, the answer to those wondering whether the foreclosure inventory backlog is really easing up appears to be: No.

PennyMac Mortgage Investment Trust earned $19.6 million in the fourth quarter - almost flat compared to 3Q - as it ramped up its correspondent division.

The commercial mortgage market didn't get as much press, but it went into the tank shortly after the residential market did. However, if projections by the Mortgage Bankers Association turn out to be right, it is recovering steeply in that V shape that has so far eluded the residential side.

Cashel USA Property Partners plans to purchase up to $500 million in distressed single-family residences in the U.S. to convert into rentals that will be serviced by PropertyAccess, a provider of national property management services for professional investors.

Mortgage Guaranty Insurance Corp.'s inventory of delinquent loans declined by over 1,200 loans during January, but new notices of default outpaced cured by 3,000 loans.

For the first time in a year foreclosure sales outpaced completed foreclosures--which at yearend 2011 decreased by 24%--contributing to a notable decrease in the foreclosure inventory, according to CoreLogic