Wells Fargo & Company is reporting that as of Feb. 28, the company had 505,832 active trial and completed modifications through its own modification programs and the federal Home Affordable Modification Program (HAMP). More than 365,000 of those were non-HAMP active trials in place as of the end of February 2010 and modifications completed since the beginning of 2009. Wells Fargo had 139,065 HAMP active trial and completed modifications in place as of Feb. 28, including 24,975 permanent modifications and 7,533 permanent modifications pending completion.Read more

The U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) have released February data for the Administration's Home Affordable Modification Program (HAMP). As of the end of the month, more than one million borrowers were receiving a median savings of $500 each month, a 36 percent median monthly payment decrease. Permanent modifications have been granted to 170,000 homeowners and an additional 91,800 permanent modifications have been approved by servicers and are pending only borrower acceptance.

Highlights of the report include:Read more

Equator, a provider of software to the default servicing industry has announced the launch of its new professional real estate-owned (REO) solution. PRO REO encompasses all the power and best practices of Equator’s enterprise REO application in an affordable, quick and easy to adopt solution. Equator has long been the standard for many of the nation’s largest lenders and servicers. PRO REO is a resounding entry into the middle market.Read more

Saxon Mortgage Services Inc. has announced the appointment of Stephen Staid as executive vice president of customer relationship management. His appointment comes as Saxon repositions itself into the residential subservicing space, specializing in distressed asset servicing. Staid will be responsible for the all aspects of the customer relationship including financial transaction management, early stage delinquency, modification fulfillment, command center, call monitoring and customer service.Read more

Ocwen Financial Corporation President Ronald M. Faris, has testified before Congress, voicing the mortgage servicer's support of the Obama Administration's Home Affordable Modification Program (HAMP) and recommended enhancements that Ocwen believes would make the program more effective at preventing foreclosures and helping distressed homeowners.Read more

Specialized Asset Management LLC , a provider of asset marketing and disposition services to mortgage lenders, servicers and investors, has announced that it has partnered with RealtyTrac, an online foreclosure marketplace for default, auction and bank-owned REOs. The partnership gives additional market exposure for foreclosed property listings provided by Specialized Asset Management LLC, displaying them prominently to RealtyTrac’s three million unique monthly visitors.Read more

PartnerFirst LLC has announced a partnership with ServiceLink where both companies have combined resources to provide a "one-stop shop" solution to national mortgage servicers and homeowners through the ServiceLink Short Sale Agent Network. ServiceLink's clients can confidently refer defaulting homeowners to select a certified real estate agent from the Short Sale Agent Network to help them streamline the short sale process.Read more

At a time when mortgage clients need it most, BB&T Corporation's retail mortgage operation is helping current and potential homeowners with their mortgage financing needs. In 2009, BB&T originated more than 72,500 retail mortgage loans, a 97 percent increase over 2008.Read more

Radian Group Inc. has announced that it has appointed Robert Griffith as executive vice president and chief operating officer of Radian Guaranty Inc., its principal mortgage insurance subsidiary. Griffith will lead the company's operations, loss management and information technology functions. He will report directly to Radian Guaranty President Teresa Bryce.Read more

Mortgage Industry Advisory Corporation (MIAC), a provider of FAS 157 fair market valuations, mortgage risk hedging and accounting solutions, has announced the rollout of phase I of its new corporate Web site, a tool the company says will make it much easier for mortgage market participants to find information critical to their success. Valuation experts at MIAC have been publishing a wealth of information and posting it online for over a decade. The new site will make this material more accessible to the industry.Read more