News

Mortgage bankers and servicers require a comprehensive, flexible, and scalable REO management system that integrates with their own in-house and third party systems to provide automated workflow management and high visibility throughout the property management life cycle.

HOPE NOW announced yesterday that, due to the continuing efforts of HOPE NOW and the broader mortgage industry, 2.47 million homeowners have avoided foreclosure and been able to stay in their homes since the organization began its efforts in July 2007.

Nielson & Sherry, PSC, a Newport, Kentucky firm which handles concerns related to the mortgage, lending, default, and real estate communities, recently announced the appointment of Dan Israelson to the role of director of client relations and business development.

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.

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending August 15, 2008 today. The new stats show mortgage applications declined only slightly from last week, but have now hit their lowest level since December 2000.

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.

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.

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.

With home prices dropping in key market areas like California and Florida, eight banks are facing additional stresses within their loan portfolios due to the eruption of home equity delinquency rates, according to a new report from Fitch Ratings.

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.