Servicing

Investors considering nonperforming loan purchases are increasingly concerned about title chains and finding related concerns that need to be cleaned up, according to a new manager at one vendor in this business.

The serious delinquency rate on the Federal Housing Administration's $1 trillion single-family loan portfolio edged closer to 10% in December as the pace of originations slowed in the fourth quarter.

Compliance and documentation go together like education and success. And, the latter is even more determined today by finding the missing pieces in the transaction chain.

Fannie Mae's latest housing forecast is in, and it predicts a stagnant mortgage market for the next two years, at about $1 trillion in originations for each of 2012 and 2013. Not what industry officials want to hear, especially after five rocky years starting in 2007.

Residential mortgages originated over the past two years are "among the best quality originations" on record, according to a new report from Lender Processing Services.

Amid lingering questions about the fate of a broad mortgage servicing settlement, many see the creation of a joint task force to probe mortgage abuses as hope that those negotiating the settlement can work out their differences.

RiskFinder Distress enables users to track and analyze key distress events throughout the life cycle of a loan. This computer product provides investors and lenders the information needed to evaluate risk, determine the impact of distress sales on loss severity estimates, drive loss mitigation strategies and identify markets that are starting to recover.

Kinecta Federal Credit Union, Manhattan Beach, Calif., posted a $30.6 million loss for 2011, citing problems with its mortgage business.

PHH Corp., which saw its CEO depart a few weeks ago, late Thursday named Charles Pizzi, the former chairman of the Federal Reserve Bank of Philadelphia, to its board.

A new national refinancing program unveiled by President Obama earlier in the week will rely on the Federal Housing Administration to refinance private and GSE mortgages, according to a report from Federal Financial Analytics in Washington.