Field services

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.