Servicing

While the topic is old and familiar, the search for best strategies and a "new world order" in single point of contact borrower management continues.

Ally Financial Inc. disclosed Tuesday that it will incur a $270 million charge in the fourth quarter - and an overall loss for the entire firm - due to what it calls "penalties" imposed by regulators and the states tied to "foreclosure related matters."

The national vacancy rate for single-family homes fell in 2011 as foreclosures slowed and sales of empty units increased by 14% over the past four quarters, according to new government figures released Tuesday morning.

Once again the S&P/Case-Shiller index has found that home prices are creeping downward. But just how bad is it? As of November 2011, average home prices across the U.S. are back to where they were in 2003 - despite the lowest interest rates in half a century.

Lender Processing Services has filed a motion to dismiss charges made by Nevada Attorney General Catherine Cortez Masto against the company and two subsidiaries for fraudulent business practices.

The Consumer Financial Protection Bureau released its first semi-annual report to Congress Monday, outlining the steps it has taken to get the bureau off the ground in its first six months.

A proposal by the Obama administration to help more struggling borrowers refinance into cheaper loans is prompting questions: Could it prompt an increase in interest rates, after a long period of low rates? And is this a program that can relieve the housing crunch, or just another Band-Aid?

The expansion of the Home Affordable Modification Program is getting a lot of applause even though judging from past performance it may not get a standing ovation when the new deadline expires in December 2013.

One of the co-chairs of the new federal/state Residential Mortgage-Backed Securities Working Group is preparing to file cases in the next few weeks against Wall Street firms involved in the packaging and selling of MBS.

Certain categories of specially serviced U.S. CMBS loans are likely to keep increasing through 2012, according to a recent Fitch Ratings report.