Servicing

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.

Interactive Mortgage Advisors, Denver, is auctioning off a $157 million package of Freddie Mac bulk servicing rights for a client.

In this election year, there certainly is no shortage of political rhetoric and drama in every debate and speech we encounter, including the recent State of the Union address by President Obama. In the address, President Obama addressed the latest of this administration’s efforts to thwart the woes of the housing market.

Field Asset Services believes that property preservation companies will have a greater workload this year in order to try to prevent more foreclosures from taking place nationwide.

The National Credit Union Administration is proposing new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs, and income related to troubled home mortgages.

Bank of America is ready to unload yet another multi-billion package of mortgage servicing rights, according to bidders and industry advisors familiar with the bank's plans.

The long-running negotiations on a settlement between large mortgage servicers and the state attorneys general have been dragging on too long.

The Treasury Department late Friday unveiled a new plan to expand the Home Affordable Modification Program by increasing the incentive fees it pays investors -- including Fannie Mae and Freddie Mac -- for agreeing to reduce the principal amount of a mortgage.

The lending industry's troubles with a controversial type of insurance coverage appear to be spreading to new areas. In recent weeks New York State's Department of Financial Services has issued subpoenas to more than 20 mortgage servicers, a dozen insurers and 20 affiliated insurance agencies, according to someone familiar with the investigation.