It was a productive year for special servicers in 2009, but there's a lot more where that came from, according to a new Fitch Ratings report. Special servicers resolved $8.7 billion in distressed loans last year, or 50% more than the previous year, but there is $74 billion still left in special servicing, Fitch said. In addition, "Recoveries on loans with losses are down markedly compared to prior years," said Fitch managing director Stephanie Petosa.
AD Mortgage sent a letter to the FHFA explaining the importance of the limited review process in facilitating access to conventional condo financing.
With margins remaining compressed, Bill Cosgrove sees mortgage industry consolidation continuing in the near future, and Union Home will be a player.
The large nonbank mortgage company is replacing a multibillion-dollar facility it took out last year before the Mr. Cooper and Redfin deals closed.
Lenders are still frequent targets of the class action complaints over unwanted mortgage solicitations, violations that have netted litigants big paydays.
Cities in two southern states dominate the list for real estate, affordability, and quality of life, according to WalletHub.
Jay Farner takes a majority ownership stake in Detroit's professional soccer franchise through the investment group he launched after leaving Rocket in 2023.
