CoreLogic has announced a new set of services designed specifically to address the anticipated increase in refinance activity expected from revisions to the Home Affordable Refinance Program (HARP). Many lenders are expected to look to third-party providers to help them manage the expected spike in mortgage refinancing. CoreLogic says its new HARP 2.0 offerings will combine the company's data and analytics with experienced teams of outsourcing professionals to improve operational pull-through.

About 2.5 percent of current mortgage balances in the U.S. transitioned into delinquency during the third quarter, the Federal Reserve Bank of New York said Monday. That assessment reverses a recent trend of reductions in the measure of newly delinquent mortgage balances, going back to the third quarter of 2010. Some 264,000 individuals had a foreclosure notation added to their credit reports between June 30 and September 30. New bankruptcies over the period tallied 423,000.

A New York federal judge ruled Monday against the proposed $285 million settlement agreed to by Citigroup and the Securities and Exchange Commission (SEC) in October. Judge Jed Rakoff said he has ""regretfully"" concluded that the agreement is neither reasonable nor in the public interest. Rakoff's opposition is rooted in the lack of evidence needed to determine whether the settlement is sufficient and the fact that Citigroup did not admit fault. He has set a trial date of July 16 for the issue to be aired in public.

RealtyTrac said Monday that it has obtained a substantial capital investment from Renovo Capital LLC through the private equity firm's Renwood Opportunities Fund. According to RealtyTrac, Renovo's investment provides the capital necessary to fund growth and foster expansion into untapped areas of the market. RealtyTrac also announced changes at the top of its management team. Brandon Moore has been hired to take over as CEO, and co-founder James J. Saccacio will move into an executive advisor role.

Holistic financial counseling -- that which focuses on a borrower's entire financial situation -- can prevent both foreclosures and re-defaults, according to a recent study sponsored by special servicer Outreach Financial Services. Holistic financial counseling can save servicers up to $71.5 million in losses on a portfolio of 10,000 loans, according to the study. When holistic counselors review a borrower's entire financial status, they are generally able to diminish monthly spending by $200 to $300.

Bad real estate loans from the boom years of the last decade have forced 412 FDIC-insured lenders to shutter their operations since the start of 2008. No institution's balance sheet has been fully insulated from the downturn in the real estate markets, but data released by the FDIC suggests lenders are finding their way out of the storm. After rising since 2006, the FDIC's so-called ""Problem List"" of banks at risk of failure has contracted for two quarters in a row. At the same time, money set aside to cover expected loan losses has fallen nearly 50 percent from a year ago.

Reisenfeld & Associates LPA, LLC, a Cincinnati, Ohio-based legal services provider to the mortgage banking industry, recently announced the addition of Sarah E. Leibel as associate litigation counsel. Before joining Reisenfeld & Associates as a litigation attorney, Leibel law clerked for the firm while she attended law school, researching various legal topics in the field of foreclosure and creditors rights.

Freddie Mac has expanded its winter REO sales incentive program to the states of Alaska, Kansas, Kentucky, Missouri, Oregon, and Washington. That makes the promotional offer now active in 33 states and the District of Columbia. The winter sales promo is being offered through HomeSteps, Freddie Mac's REO disposition unit, and pays an extra $1,000 bonus to the selling agent, as well as additional incentives to owner occupant buyers. Offers must be received by January 31, 2012.

While the attorneys general working toward a settlement with the nation's largest servicers may be able to strike a settlement without California, it may cost them. A deal that seemed likely imminent as of the end of October would have required $25 billion from the banks - $5 billion in cash penalties and $20 billion in refinancings and modifications. That $25 billion could be reduced to $18.5 billion if California refuses to take part in the settlement, and it could limit the amount of assistance provided to California homeowners.

Data released by Freddie Mac Wednesday shows mortgage interest rates across the board edged lower for the shortened holiday week, with the 30-year fixed rate slipping to its second-lowest reading on record and adjustable-rate mortgages (ARMs) setting new all-time lows. The 30-year fixed-mortgage rate has averaged at or below 4 percent for four consecutive weeks now. For the week ending November 23, Freddie Mac's study puts it at 3.98 percent. The 5-year ARM is now averaging 2.91 percent, and the 1-year ARM is 2.79 percent.