News

According to Fannie Mae, the increase was driven primarily by lower fair value losses and an increase in revenues. Also contributing to the third-quarter boost in profits was a recently announced settlement between Goldman Sachs and the GSEs' conservator, the Federal Housing Finance Agency (FHFA), over faulty residential mortgage-backed securities (RMBS).

International Document Services (IDS), a Salt Lake City, Utah-based mortgage document preparation vendor, has announced the formation of an internal team with the sole function of developing and maintaining integrations between idsDoc, the IDS flagship document preparation system, and the company's third-party vendors.

Institutional investor sales comprised 4.3 percent of all single-family residential home and condo sales in the third quarter of 2014, down from 5 percent in the second quarter and from 5.3 percent in Q3 2013, according to RealtyTrac's Q3 2014 Institutional Investor and Cash Sales Report released on Thursday.

The Legal League 100 Advisory Board met Wednesday in Washington, D.C. to plot the path forward for serving the default servicing and financial services legal community in the coming year.

U.S. Senator Richard Shelby, R-Alabama, is expected to become the new chair of the Senate's Banking, Housing, and Urban Affairs Committee following Tuesday's election in which Republicans retained control of the House and won enough seats to gain a majority in the Senate as well.

Mortgage credit standards remained largely unchanged over the past three months as demand weakened overall, according to a report from the Federal Reserve.

The number of jobs in the private sector increased by 230,000 from September to October in 2014, according to the October ADP National Employment Report released on Wednesday.

Martin, Leigh, Laws & Fritzlen (MLLF), a Kansas-based law firm specializing in creditor-oriented litigation, recently received the USFN Award of Excellence for the fifth consecutive year.

RIO Genesis, a Nevada-based leading real estate software solutions provider, has announced the hiring of housing and mortgage servicing industry veteran Lynn Effinger as SVP of institutional services.

The executive board of directors for the National Appraisal Congress (NAC) came together on Tuesday in Washington D.C. to discuss pressing issues facing the residential valuation and appraisal industry. The meeting was brought to order by NAC chair and Chief Appraiser at TSI Appraisal, Jordan Petkovski. Petkovski gave attendees a brief overview of the state of the property appraisal industry. He also articulated his vision for how the NAC will supply direction for residential appraisal companies and lead the industry in a time of change.