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The Numbers of the GSE Takeover, and Counting

Between them, Fannie Mae and Freddie Mac own $5.4 trillion of the nation’s $12 trillion in residential mortgage debt. As part of the federal government’s takeover of the two government-sponsored enterprises (GSEs), the U.

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First American Launches New Loss Mitigation Tool

First American Default Technologies, a member of The First American Corporation family of companies and a provider of host-system integration technology to the mortgage default servicing industry, launched a new loss mitigation module as part of its VendorScape suite of solutions today.

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Outside the Box, But Inside the Law

Michigan Paves the Way with Creative Techniques to Legally Avoid Costly Delays, Hasten Foreclosure and REO Sales When it comes to loss mitigation, quicker is almost always better. If the ultimate goal of every foreclosure is a clean, quick REO sale, avoiding delay by using creative methods can substantially improve results.

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CampusMBA Offers Course in Loss Mitigation

All the turmoil in today’s mortgage banking sector has made the need for qualified loss mitigation professionals much more poignant. The Mortgage Bankers Association (MBA) says its education platform, CampusMBA, is prepared to meet this need through the launch of a new instructor-led workshop focusing on the practice of loss mitigation.

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HOPE NOW Applauded for Rolling Out Project Lifeline

The HOPE NOW Alliance—a national network of mortgage servicers, nonprofits and housing counseling agencies—received praise from U.S. Treasury Secretary Henry Paulson, Jr., today for their quick implementation of Project Lifeline.

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Subprime Crunch Hurts GMAC in 2007

GMAC Financial Services, a financial services company, said it experienced a net loss of $724 million in the fourth quarter of 2007 and an annual net loss of $2.3 billion for the entire year. The financial services giant blames troubles experienced at its lending subsidiary Residential Capital, LLC, (or ResCap) for the company’s many losses last year.

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Clayton Holdings Agrees to Help Wall Street Probe

Shelton, Connecticut-based Clayton Holdings Inc., a platform dedicated to providing advanced analytics for lending firms, capital market institutions and investors, confirmed with DSNews.com on Monday that it will be assisting the New York Attorney General’s Office in its case against major Wall Street firms, who are accused of not properly disclosing risky subprime loans to investors.

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