Home / News (page 1630)


Chrisley Asset Management Introduces New Loss Mitigation Services

Atlanta-based Chrisley Asset Managent, a full-service REO management company, announced Wednesday the integration of short sales and loan modification services to its clients, streamlining the process for lenders and borrowers while increasing overall efficiency with a low-cost and reliable solution.

Read More »

Double Dip in Home Prices Threatens One in Five Markets

Despite what seemed to be a flattening - and in some cases even a reversal - of home price declines last year, there are signs that the dreaded ""double dip"" is developing in as many as one in five markets, Zillow says. While residential values in some markets appear to have found their bottom, the company has observed prices in such large metros as Boston, Atlanta, and San Diego to have leveled or begun to decrease again after consecutive monthly increases - early signs of what could become a second period of prolonged declines.

Read More »

BofA Provides Clarity Commitment to More Than 1 Million Potential Homebuyers

Marking a major milestone in its effort to provide more clarity and transparency in the mortgage process, Bank of America, N.A., (BofA) provided more than 1 million potential homebuyers with the lender's first mortgage Clarity Commitment. ""Customers told us they wanted transparency and 'no surprises' in the lending process, and the Clarity Commitment answers that need-helping potential homeowners clearly understand the key terms and conditions of their mortgage agreement prior to closing a loan,"" said Barbara Desoer, president of BofA Home Loans.

Read More »

Mortgage Applications Decrease as Purchase Activity Wanes

Despite low and stable interest rates, mortgage applications fell for the week ending February 5, 2010, according to the Weekly Mortgage Applications Survey released Wednesday by the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally-adjusted basis from the prior week.

Read More »

Freddie Mac to Buy Back More than $71B in Delinquent Loans

Freddie Mac said Wednesday that it will purchase ""substantially all"" mortgages that are 120 days or more delinquent from the company's fixed-rate and adjustable-rate mortgage Participation Certificate (PC) securities. With new accounting rules that took effect January 1, the company said it is cheaper to buy and hold these nonperforming loans on its books than to pay guarantee fees to security investors. As of December 31, 2009, the aggregate balance of such loans was just over $71 billion.

Read More »

Khafre Takes the Pain Out of Commercial Loan Mods

Payment Gone, LLC, creators of Khafre Back Office, announced Wednesday the launch of its commercial loan modification software module. The company says this marks the introduction of the first commercial mortgage mod software on the market. The new module is designed to enable servicers to accurately capture and manage their clients' portfolio of commercial properties and to quickly analyze clients' complete financial picture.

Read More »

Deterioration in Jumbo Mortgage Market Continues: Fitch

Delinquencies on prime jumbo loans continue to climb, and Fitch Ratings says they could reach 10 percent as early as next month. Loan performance among high-end mortgages within private residential mortgage-backed securities (RMBS) showed further weakness in January, as serious delinquencies rose for the 32nd consecutive month. Meanwhile, sales of seven-figure homes last year in California hit their lowest count since 2002.

Read More »

Fulfillment Division Launched by CMAC

Low interest rates have pushed more Americans to refinance their mortgages, and the Federal Housing Administration has announced enhanced refinance guidelines to assist homeowners facing foreclosure. As a result, banks and lenders are faced with an increasing volume of loan modification and refinancing requests.

Read More »

Mortgage Investors Push for Principal Writedowns

Mortgage principal - to cut or not to cut - has grabbed a fair share of the media spotlight in recent weeks, with a number of experts plugging principal reduction as a practicable means of ensuring homeowners don't redefault on their modified loan. While lenders are often prohibited from trimming the principal by agreements with investors, one such group, representing holders of some $100 billion in mortgage securities, is lobbying Congress to enact legislation that addresses the problem of underwater mortgages by reducing the debt.

Read More »


Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.