A new report from the Boston branch of the U.S. central bank warns that servicers have been reluctant to renegotiate mortgages since the foreclosure crisis started in 2007. No matter whether the workout takes the form of a payment lowering modification, capitalizing repayment plan, short sale, or deed-in-lieu of foreclosure, the Federal Reserve economists who spearheaded the research concluded that quite often, lenders expect to recover more from foreclosure than from a modified loan.

The National Association of Realtors (NAR) has awarded more than $682,000 to 25 local and state Realtor associations across the country through its Foreclosure Prevention and Response grant program. The grants help Realtor boards develop and fund local foreclosure deterrence initiatives.

An annual charitable golf tournament benefiting neurofibromatosis (NF) research, put on by Friends of Children with NF and sponsored by a host of companies within the default servicing industry, has been set for October 6, 2009.

Applications for both home purchases and mortgage refinances inched upward last week, thanks to low interest rates that have held steady for the past few weeks, the Mortgage Bankers Association (MBA) said Wednesday.

The First American Corporation announced Tuesday that Christopher Del Moral-Niles has been nominated to serve as president of First American Trust, FSB. Niles, who had previously served as treasurer for The First American Corporation, is expected to assume his new duties effective October 1, 2009.

Newport Beach, California-based BigBidder.com, an online auction platform for mortgage notes, recently announced that the company has reached an important milestone – the sale of more than $100 million in individual loan notes.

The Washington, D.C.-based trade organization American Land Title Association (ALTA) released its Title Insurance Industry Market Share and Financial Statement for the first quarter of 2009 last week.

According to recently released statistics from the HOPE NOW Alliance, the mortgage lending industry helped 249,000 homeowners avoid foreclosure and keep their homes in May. HOPE NOW said its members and the greater mortgage lending industry modified 101,000 mortgages in May and completed 148,000 repayment plans.

BA Urban Solutions LLC, a nationwide minority-owned REO asset management company headquartered in Sugar Land, Texas, recently unveiled an initiative that aims to bring homeownership back to urban communities through a network of industry alliances.

Pennsylvania Gov. Edward Rendell signed a pair of bills last week aimed at combating mortgage fraud in the state. According to a statement from the governor’s office, the new laws were written to strengthen communication between homeowners and their lenders and encourage employees at mortgage companies to report illegal activity.