Foreclosure Management Company (FMC), a Kansas-based provider of default management services to the mortgage servicing industry, announced Thursday that the company has received its 2009 SAS 70 Type II audit report, and the assessment confirms that FMC has processes and controls in place to provide a stable and secure environment that can perform transaction processing and safely exchange related client data.

The Federal Housing Administration (FHA) wants lenders and mortgage companies to shoulder more liability for the loans the agency insures against default.

Bid4Assets, an online real estate auction company headquartered in Silver Spring, Maryland, has added a financial calculator to its selection of online resources to help bidders determine the investment potential of residential properties for sale on its site.

In a surprise announcement Wednesday, Bank of Americasaid it is settling up with U.S. taxpayers. The North Carolina-based bank has received approval from regulators to pay back the full $45 billion it received from the Treasury under the Troubled Asset Relief Program (TARP).

""Default Attorney Group"":http://defaultattorneygroup.org/ (DAG), an association of legal professionals serving the mortgage lending and servicing community, announce Thursday that it can now offer representation in Georgia through member firm ""Brock and Scott, PLLC"":http://www.brockandscott.com/.

Prism Capital Partners, LLC, in Englewood, New Jersey, has launched a third The company explained that the new service enables loan underwriters, servicers, and -party consultation and property management services (CPMS) program for commercial lenders holding distressed assets and REOs.

The nationwide loan deterioration ratio is higher than three to one, according to the latest mortgage market report from Lender Processing Services, Inc. (LPS).

Consumer demand for home loans and mortgage refinancing edged upward during the shortened holiday week, the Mortgage Bankers Association (MBA) said Wednesday.

Lenders One Mortgage Cooperative, a national alliance of independent mortgage bankers headquartered in St. Louis, Missouri, announced Tuesday that it has reached another milestone as total membership climbed to 150 lenders in October. After attracting 42 new members in 2008, the cooperative has continued its steady growth adding 41 new members to date this year, 15 of them having joined during third quarter 2009.

According to HOPE NOW's numbers, lenders are modifying mortgages at a faster pace than they're repossessing homes.