Performance on home mortgages serviced by the largest national banks and federally regulated thrifts improved earlier this year for the first time in more than two years, according to a report released by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).Read more

Interactive Data Corporation, a provider of financial market data, analytics, and related solutions, has announced that its Fixed Income Analytics business has released BondEdge Version 3.2. This new BondEdge release contains enhancements to help institutional investors assess risk related to prime and sub-prime residential mortgage-backed securities (RMBS), including fixed- and adjustable-mortgage pools, collateralized mortgage obligations (CMOs) and asset-backed securities (ABS). Included within BondEdge Version 3.2 are the following enhancements:Read more

National bank and thrift servicers implemented more than 680,000 home loan modifications and payment plans in the third quarter of 2009 to avoid preventable foreclosures, according to a report released by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS). The OCC and OTS Mortgage Metrics Report for the Third Quarter 2009 showed that the number represented a nearly 69 percent increase in home retention actions from the previous quarter.Read more

Ohio Attorney General Richard Cordray has filed a lawsuit against American Home Mortgage Servicing Inc. (AHMSI), a Texas-based company servicing more than 12,000 sub-prime and prime mortgage loans in Ohio. The lawsuit alleges numerous violations of the Ohio Consumer Sales Practices Act including but not limited to: Incompetent and inadequate customer service, failure to respond to requests for assistance, failure to offer timely or affordable loss mitigation options to borrowers and unfair and deceptive loan modification terms.Read more