A major residential mortgage trade group last week reported an overall increase in the number of delinquencies, even as more indebted borrowers appeared to be catching up to their payments.
Read More »Lockhart Says He Will Leave FHFA Director’s Post Next Month
James Lockhart, the Federal Housing Finance Agency director who oversaw the government̢¢s seizure of mortgage giants Fannie Mae and Freddie Mac, said Wednesday that he will step down and return to private finance.
Read More »Servicer Report Puts Biggest Modifiers on the Defensive
When the Obama administration released the first servicer performance results Tuesday from its Making Home Affordable modification program, the news seemed mostly sunny.
Read More »Sorrento Capital Names Ozonian Board Chairman
Sorrento Capital, a private asset management firm based in Irvine, California, announced Monday that it has named Steve Ozonian as its executive chairman of the board.
Read More »BigBidder Auctions Re-performing Loan Pool
California-based BigBidder.com, an online auction platform for mortgage notes, is marketing a $500,000 pool of re-performing residential mortgage loans. The auction of the mortgage pool began Thursday and is scheduled to end August 5.
Read More »Freddie Partners With Stewart Subsidiary to Help Servicers Handle Mod Volumes
Freddie Mac has announced an agreement with Home Retention Services, Inc., a wholly-owned subsidiary of Stewart Lender Services, Inc., to help regional servicers process thousands of backlogged applications for Making Home Affordable modifications.
Read More »Strategic Analytics Enhances MBS Analysis
Santa Fe, New Mexico-based Strategic Analytics Inc. , a provider of stress testing and forecasting solutions for retail lenders, announced Thursday a partnership with Maryland’s BlackBox Logic, LLC, a provider of loan-level mortgage data and cash flow analysis for securitized mortgage products.
Read More »House Committee Approves Extension of High-Cost Loan Limit
The House Appropriations Committee has voted to extend the $729,750 limit for federal loans in high-cost markets through September 2010. The loan limit applies to mortgages financed through Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) and is currently set to revert back to $417,000 at the end of this year unless the extension is approved by Congress.
Read More »Florida AG Sues Mortgage Mod Companies
Florida Attorney General Bill McCollum filed a lawsuit against four related South Florida mortgage companies this week. McCollum alleges that FHA All Day.Com and owner Jason Vitulano, as well as three other affiliated companies, charge up-front fees for loan modification services, purportedly collecting up to $1 million on a monthly basis.
Read More »Fiserv: Price Corrections Continue
Wisconsin-based Fiserv, Inc. has published a new analysis of home price trends based on the Fiserv Case-Shiller Home Price Index and data from the Federal Housing Finance Agency (FHFA). The company says the U.
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