A new product is making it possible for financial institutions to service all loans using one cost-effective platform, according to Fiserv Lending Solutions — a unit of Fiserv that introduced itsLoan Servicing Platform at the MBA’s 2007 National Technology in Mortgage Banking Conference and Expo.

A U.S. house subcommittee hearing on subprime and predatory lending was the talk of the town on Tuesday as regulators, industry experts, and consumer advocacy groups gathered in front of lawmakers to testify.

Kansas City, Missouri-based NovaSTAR Financial Inc. has received word that Fitch Ratings placed its NovaSTAR Mortgage subsidiary on a negative ratings watch. Fitch in a press statement said, the ratings watch reflects the challenging operating environment in the subprime mortgage market and uncertainties regarding NFI’s profitability.

Reuters news agency reports that Morgan Stanley is auctioning $2.48 billion worth of mortgages from embattled subprime lender New Century Financial Corp., which is based in Irvine, California. In quoting the New York Post, Reuters said the loans represent collateral that New Century gave the investment bank for a $2.

Mortgage insurance can cost borrowers a pretty penny, which is why eAppraiseIT, a provider of real estate valuation products and services, believes it has found an audience for the new enhanced version of its Private Mortgage Insurance (PMI) Release Outsourcing Program.

Santa Ana, California-based The First American Corporation says it has a cure for some of the complications and expenses that can arise during the traditional loan closing process. The company has officially introduced its Transaction Management Dashboard, a technology solution that streamlines the workflow process during loan closings — in effect saving lenders and clients valuable time and money.

Irvine, California-based RealtyTrac, an online marketplace for foreclosure properties, has released a report saying foreclosure filings, which include default notices, auction sale notices, and bank repossessions, fell 4 percent between the months of January and February.

Investor optimism is down and experts say some of the troubles in the real estate market related to subprime lending are partly to blame. According to the latest report from the UBS/Gallup Index of Investor Optimism, the index has fallen 25 points over the past two months bringing the index to its lowest level since September of 2006.

Irvine, California-based topLingo Inc., a Web-based application programming services company, has launched its online Marketing Toolkit portal for a client in the real estate industry that specializes in small-balanced commercial loans.

Irvine, California-based %{=}New Century Financial Corp.:http://www.ncen.com/ finished the week on somewhat of a high note when Barclays, a financial backer, decided to release the company from an agreement requiring that the lender repurchase mortgage loans in light of its subprime lending troubles.