Brookfield, Wisconsin-based Fiserv, Inc., a global provider of financial services technology solutions, recently announced enhanced investor capabilities for its Loan Servicing Platform. The new technology allows users to have real-time access to the cash position as it relates to their investor portfolio.
Read More »Nine Firms Sued by Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco has filed suit against nine securities dealers - including some of the nation's biggest lenders - alleging they made untrue statements related to the federal bank's investments in private-label residential mortgage-backed securities.
Read More »California Company Hired to Oversee Inventory of HUD Homes
Michaelson, Connor, & Boul, Inc. of Huntington Beach, California was recently hired by HUD to ensure that FHA-approved lenders and servicers convey foreclosed properties to the agency in acceptable condition.
Read More »First ‘ROOF’ Agreement Signed
The first Retaining Occupancy on Foreclosure (ROOF) Agreement was recently signed in the city of Detroit. Created to help combat the blight problems in Detroit by cutting down on the number of homes left vacant after foreclosure, the goal of the program is to salvage Detroit neighborhoods and greatly reduce the number of vacant homes by keeping foreclosed homes occupied by either the owner or tenant until the property is sold at an REO sale.
Read More »Fannie Mae Reports on Activities in 2009, Changes Outlook for 2010
In two separate reports released this week, Fannie Mae took a look at the past and made predictions for the future. On Thursday, the government-sponsored enterprise (GSE) released ""Helping Housing Recover: A Report on Fannie Mae's Mission Performance,"" describing the company's efforts to provide liquidity, stability, and affordability to the nation's housing finance system. On Wednesay, the GSE released its March 2010 Economic Outlook, cutting its mortgage origination predictions for this year.
Read More »Real Estate Opportunity Fund Launched in Colorado
Pathfinder Partners, LLC, a San Diego-based company that invests in distressed real estate and defaulted loans, recently teamed up with Denver's Pittman Development Group to launch the Pittman Pathfinder Colorado Opportunity Fund, a new private equity fund focused on acquiring real estate assets throughout Colorado.
Read More »Rubin Lublin Suarez Serrano Opens New Office, Hires Two New Attorneys
Rubin Lublin Suarez Serrano, LLC, a real estate default law firm based in Atlanta, recently announced that it has hired two new attorneys and opened a new office in Memphis, Tennessee. Natalie Brown joins the firm as an associate attorney in the Memphis office, and Amanda Perez joins the Atlanta office as an associate attorney working within the title department.
Read More »Trustee Sale Management System Launched by eBrokerHouse
Real estate technology firm eBrokerHouse recently announced the launch of Rapid Trustee Sale (RTS), a Web-based trustee sale management system for real estate investors and/or brokers with clients who are bidding at foreclosure auctions.
Read More »Mortgage Industry Taps UTLS for Technology and Management Solutions
Orange County, California-based UnitedTech Lender Services, Inc. (UTLS), the holding company to the UTLS family of companies, is providing various solutions to mortgage industry participants through its subsidiaries, UTLS Technology Services and UTLS Consulting Services.
Read More »Outstanding Commercial/Multifamily Mortgage Debt Declines in Q4 ’09
Driven by drops in commercial mortgage-backed securities (CMBS) and construction loans held by banks and thrifts, the level of commercial/multifamily mortgage debt outstanding in the fourth quarter of 2009 decreased on both a quarter-to-quarter and year-over-year basis, according to the Mortgage Bankers Association's (MBA) analysis of the Federal Reserve Board Flow of Funds data.
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