Wells Fargo & Company has announced that it has signed the second lien modification...Read More
Wells Fargo & Company has announced that it has signed the second lien modification component of the Obama Administration's Home Affordable Modification Program (HAMP). The program will be offered to qualified Wells Fargo and Wachovia second lien mortgage customers who have completed their...Read More
HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors has announced that its January 2010 data estimates 99,499 homeowners received proprietary loan modifications for the month. Combined with the United States Treasury’s...Read More
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9 percent on a seasonally adjusted basis from one week earlier. On an...Read More
Robert E. Story Jr., CMB, chairman of the Mortgage Bankers Association (MBA), has issued the following statement in reaction to proposed legislation to modernize regulation of the financial services industry: "MBA supports efforts to modernize the regulatory structure for mortgage...Read More
In a letter to Senate Banking Committee Chairman Chris Dodd (D-CT), Rep. Chaka Fattah (D-PA) asked that new Senate regulations on the financial services industry include Fattah's mortgage relief provisions that are contained in HR 4173, the Wall Street and Consumer Protection Act of 2009. ...Read More
Given the unprecedented changes in mortgage lending, it's reasonable, prudent and essential for all mortgage lenders to examine their business plans; joining a branching mortgage bank warrants consideration. For some brokers, the goal could be to just focus on sales and hope that the world we...Read More
Rising vacancies and falling rents are impacting all sectors of commercial real estate. Landlords are focusing on tenant retention and negotiating lease extensions at low rents with favorable allowances to sustain revenues. The Beige Book Jan. 13, 2010 Summary indicated that while economic...Read More
On Dec. 16, 2009, the Federal Housing Administration (FHA) published Mortgagee Letter 09-52, which issued guides for mortgage originators in circumstances where borrowers receive a short payoff from their current lender on either a sale or a refinance. Here is a summary of the five things...Read More
Recently I participated in a Murder Mystery weekend at a bed and breakfast lodge. Every guest was a given a role to play. There were eight suspects; each of whom had one or more of the following: Means, Opportunity and Motive. Having the Means and Opportunity was very important, but having...Read More
I’m sure you’ve heard that incredulous gasp or moment of silence on the other end of the phone when you tell someone that they might benefit by considering an interest-only adjustable-rate mortgage (ARM). It’s as if the very mention of an interest-only ARM places you in a...Read More
Level 1 Loans, a wholly-owned subsidiary of The Sextant Group Inc., has announced that Tom Healy III has joined the firm as product manager. Tom's primary role will be overseeing both product communication and revenue growth for Level 1 Loan's asset valuation solutions. Level 1 Loans provides...Read More
Saxon Mortgage Services Inc. has announced the appointment of John P. Kim to lead business development. His appointment comes as Saxon repositions itself into the residential subservicing space, specializing in distressed asset servicing and non-performing asset management. In this role,...Read More
Equator, a software provider of default servicing solutions, has announced the launch of its Home Affordable Foreclosure Alternatives (HAFA) software solution, which will coincide with the beginning of the HAFA regulations. Equator's solution provides lenders and servicers with the technology...Read More
UnitedTech Lender Services Inc. (UTLS), holding company to the UTLS family of companies, has enhanced its strategic management solutions provided by its subsidiary UTLS Consulting Services. Specializing in consulting and staffing to the servicing industry, UTLS Consulting provides mortgage...Read More
We have all heard complaints concerning appraised values being lower than selling prices in...Read More
Robert E. Story Jr., CMB, chairman of the Mortgage Bankers Association (MBA), has issued the...Read More
Fiserv's enhancements to Loan Servicing Platform from gives lenders greater control of investor data
Fiserv Inc., a provider of financial services technology solutions, has announced enhanced...Read More
RealtyTrac, an online marketplace for foreclosure properties, today released its U.S....Read More
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