Fidelity National Financial Inc. (FNF), a provider of title insurance, mortgage services, specialty insurance and information services, has announced the acquisition of Commerce Velocity. Commerce Velocity provides technology solutions to mortgage lenders, loan servicing organizations and investment banks that enable users to mitigate risk and optimize outcomes for their mortgage loan portfolios.Read more

RiskSpan Inc. has announced that it has hired Allen H. Jones as managing director of its federal services consulting practice in Washington, D.C. Jones most recently served as Bank of America's (BOA) government lending executive where he managed the transition and integration of Countrywide under the BOA umbrella. He was subsequently named BOA's executive for default management public policy and national outreach.Read more

Walter Investment Management Corporation has announced that it has entered into a definitive agreement with Marathon Asset Management LP to purchase Marix Servicing LLC, a high-touch specialty mortgage servicer. Marix, based in Phoenix, Ariz., is focused on default management, borrower outreach, loss mitigation, liquidation strategies, component servicing and specialty servicing. Marix is an S&P Select Servicer and brings relationships with each of the GSEs, as well as a management team which averages over 22 years of industry experience.Read more

The Federal Housing Finance Agency (FHFA) has released its first Conservator’s Report on the Enterprises’ Financial Condition. The Conservator’s Report provides an overview of key aspects of the financial condition of Fannie Mae and Freddie Mac (the government-sponsored enterprises) during conservatorship. The report will be released on a quarterly basis following the filing of the Enterprises’ financial results with the Securities and Exchange Commission (SEC).Read more

The Housing Recovery Fund of America has announced its formation to establish a real estate investment fund that invests in single and multifamily residential real estate across the United States and to acquire for “all cash,” with no mortgage debt, residential real estate to maximize rental income and resale profit potential. The Fund will target undervalued and/or financially distressed single-family and multi-family properties, at or below replacement cost, through short sales, bank-owned (REO) real estate in prime locations in the Southeast and Southwest USA.Read more

SMART Servicing LLC has announced that DHM Mortgage Servicing LLC (DHM), a mortgage service provider that works with borrowers who are delinquent on their mortgage payments or are facing financial hardship, has purchased a perpetual license of its Servicing Management Asset Recovery & Tracking (SMART) software. The SMART application is an asset management tool that works seamlessly in conjunction with a client’s existing servicing system.Read more

DRI Management Systems Inc., a provider of default process management software, has announced its new Web-based loan servicing application for the mortgage industry, Rincon. The Rincon platform sets new standards for performance in default management software, a technology segment virtually created in 1985 by DRI and its Chief Executive Officer Duke Olrich, during the savings and loan crisis. Back in those pre-Internet days, the levels of functionality now available in Rincon could only be imagined.Read more

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the August edition of the Obama Administration’s Housing Scorecard, a comprehensive report on the nation’s housing market. In July, housing prices remained level after 30 straight months of decline, while some price predictions have improved. In addition, historic low interest rates continued to promote home affordability and refinancing options for the nation’s families.Read more

The New York State Banking Department has issued new regulations that address the business practices of mortgage loan servicers and establish additional consumer protections for homeowners. Part 419 of the Superintendent’s Regulations, which go into effect Oct. 1, 2010, are a follow-up to the adoption of Part 418 in July 2009, which established standards and procedures for the registration of mortgage loan servicers in New York.Read more

Altisource Portfolio Solutions, a provider of knowledge process services related to real estate mortgage portfolio management, asset recovery management and customer relationship management, announces the addition of short sale and deed-in-lieu services to its line of services available to mortgage lenders and servicers. The expansion leverages Altisource's 20 years of experience in default and asset management to provide lenders and servicers with another essential component to enhance their loss mitigation programs.Read more