Field services

Mortgage Contracting Services will close the Utah office of its MCS Valuations subsidiary and consolidate its operations into three offices nationwide.

Green River Capital has rolled out a new surveillance service for single-family rental properties called Retail Asset Management & Performance.

The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.

Stewart Mortgage Information Systems is pulling the plug on its delinquent mortgage services business.

Two mortgage servicers have agreed to join a group of peer institutions in following a series of guidelines to address zombie properties in New York State, Gov. Andrew Cuomo announced Thursday.

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

Senate Democrats are urging regulators to investigate potential discrimination in how banks and other financial institutions handle and market foreclosed homes.

When the next wave of REO activity hits, it will be heavily influenced by some of the leftover problem loans from the last downturn, as well as new defaults from more recent originations.

Banks and mortgage firms representing 70% of the New York market will adopt a set of best practices to combat the "zombie properties" afflicting communities throughout the state, New York Gov. Andrew Cuomo announced Monday.

A new CoreLogic service aims to help servicers and mortgage investors keep tabs on properties in states that give homeowners' associations super lien status.

Blackstone Group cemented its position as the world's biggest private-equity investor in real estate with a global buying spree that includes General Electric Co. assets and a California-based shopping-center owner.

It's not just about cutting lawns and patching holes. To convey a foreclosed property into the Department of Housing and Urban Development's ownership, servicers are on the hook for every last detail of a vacant house. Here are five key pieces of the preservation puzzle.

The City of New Orleans is planning its first online auction to sell 1,786 adjudicated properties.

The Federal Housing Finance Agency released a set of new rules for the sale of troubled mortgages by Fannie Mae and Freddie Mac.

From new compliance scorecards to rethinking how to deal with consumer complaints, there's plenty to debate about the future of servicing. Here's a look at the most insightful and noteworthy discussions from this year's Mortgage Bankers Association servicing conference.

Stewart Information Services Corp. is being targeted by activist Phil Goldstein, who is urging a sale of the property-title insurer and seeking control of its board.

Working as a team with all stakeholders is the only way to successfully maintain a foreclosed property and see it through conveyance to the Department of Housing and Urban Development.

The city of St. Paul, Minn., has reached a settlement with two landlords in a long-running federal lawsuit in which the city is accused of hurting minority tenants by aggressively enforcing its building codes, thereby reducing the supply of affordable housing.

Mobile boards hung with candy-colored pages announcing the day's foreclosure hearings still stand sentry on the fourth floor of the Palm Beach County, Fla., courthouse — makeshift organizers erected during the unbridled early days of the housing crisis.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.