Foreclosures Disproportionately Affecting Minority Borrowers
imated 17% of Latino homeowners and 11% of African American homeowners have lost their home to foreclosure since 2007 or are now at imminent...
Fitch Rates Residential Credit Solutions, Vericrest
Ratings has taken actions on its servicer ratings for Residential Credit Solutions Inc. (RCS) and Vericrest Financial Inc. Fitch has upgraded RCS' rating for...
Freddie Mac Okays Forbearances For Borrowers With Problem Drywall
e Mac has announced that servicers may grant forbearances on a case-by-case basis to borrowers with Freddie Mac-owned mortgages secured by single-family homes that...
FNC To Track Home Prices In Areas Affected By Oil Spill
c. is inviting Gulf Coast-area real estate professionals to provide information for a new website that will track home sale prices of properties that...
SunTrust’s Lockett Honored By USFN
ey network USFN honored industry veteran Roxanne Lockett with the 2010 USFN Mortgage Servicing Leadership Award on June 10 at the group's Loan Management...
HUD, Treasury Unveil Housing Scorecard
more than 152,000 Home Affordable Modification Program (HAMP) trial modifications were canceled in May, Obama administration officials say only a small percentage of...
FNMA Issues Forbearance Policy In Response To Problem Drywall
Mae is planning to institute a new national policy that provides relief for homeowners who have problem drywall in their homes. Under the...
Freddie Mac Announces Relief For Gulf Coast Borrowers
ing Fannie Mae's lead, Freddie Mac has announced that servicers may grant relief to Gulf Coast borrowers who are unable to pay their loans...
FTC Settlement Orders Ban Faux Mod Providers
deral Trade Commission (FTC) has taken legal actions against more than a dozen marketers accused of pitching bogus mortgage modification or foreclosure relief services....
We Save Homes Undergoes Rebranding
e Homes Inc. has begun to market itself under the name Servicers Direct. The company says the new name more accurately represents its services...
Fannie Mae, Citi Announce Mortgage Relief Tied To Gulf Oil Spill
Mae is permitting servicers to immediately suspend or reduce mortgage payments for borrowers whose properties or income are negatively impacted by the Gulf...
Fitch Projects Up To 75% Redefault Rate For Modified Subprime, Alt-A Loans
both Home Affordable Modification Program (HAMP) and servicer-specific loan modifications continue to increase, a sizable amount of these loans will default again within...
NPL Investor Sues GMAC For Mismanaged Loan Servicing
an Residential Equities LLC (ARE), a Miami-based real estate company that buys and liquidates pools of nonperforming residential mortgages, says it has filed a...
BofA Passes 70K HAMP Permanent Mods, Cites ‘Reporting Issues’
f America says it has completed more than 70,000 permanent modifications under the federal government's Home Affordable Modification Program (HAMP), converting more than 16,000...
NCCI Opens Short-Sale Desk
orest, Calif.-based National Creditor's Connection Inc. (NCCI) has established a 'short sales desk' to help servicers assess whether delinquent borrowers are good candidates for...
MOS Group Dives Into HAFA Processing
, Calif.-based MOS Group Inc. has expanded its loss mitigation services to include short-sale and deed-in-lieu processing that complies with the Treasury Department's Home...
HUD Announces M&M III Contracts, Separates Functions
S. Department of Housing and Urban Development (HUD) has announced it is awarding contracts to 23 companies to serve as asset managers (AMs) and...
Shadow Inventory For Nonagency RMBS Could Take Three Years To Clear
al variations in the shadow inventories of distressed U.S. mortgages could indicate where home prices may pick up or continue to stabilize and where...
Fannie Extends Reimbursement Deadline For HOPE NOW Counseling
Mae has extended the time period for servicers to request reimbursement for counseling fees paid on behalf of borrowers to support delinquency resolution...
Utah Judge Lifts Injunction Against BofA
istrict Judge Clark Waddoups has dissolved the May 22 preliminary injunction against Bank of America and its ReconTrust subsidiary that prevented the companies from...