Servicing/Default
Last Updated: November 20, 2009 11:39 am CST
State Monitors Oversee Modifications in California Bill
The California Assembly is considering AB 1588, which would implement the Monitored Mortgage Workout (MMW) Program. MMW would provide for state-appointed monitors to guarantee homeowners a chance at working out a plan with their lender to avoid foreclosure. The bill was introduced recently by Karen Bass, the California assembly speaker, and announced by Antonio Villaraigosa, the mayor of Los Angeles. Any borrower who receives a notice of default (NOD) would be eligible to participate in the MMW Program, which would be administered by the California Housing... more»
Serious Delinquencies Reach Record 14.4%: MBA
The national delinquency rate on one-to-four-unit residential properties climbed to 9.64% of all loans at the end of Q309, according to a survey from the Mortgage Bankers Association (MBA). Including the rate of foreclosures, the US serious delinquency rate is at a record 14.4%. The rate of delinquency jumped 40bp from Q209 and increased 265bp from one year ago, according to the survey. It broke last quarter’s record and stands as the highest delinquency rate since the MBA began compiling data in 1972. The delinquency rate includes loans that are at least... more»
recent Servicing/Default stories
State Monitors Oversee Modifications in California Bill
The California Assembly is considering AB 1588, which would implement the Monitored Mortgage Workout (MMW) Program. MMW would provide for state-appointed monitors to guarantee homeowners a chance at working... more»
Serious Delinquencies Reach Record 14.4%: MBA
The national delinquency rate on one-to-four-unit residential properties climbed to 9.64% of all loans at the end of Q309, according to a survey from the Mortgage Bankers Association (MBA). Including the... more»
Moody’s Economist: Banks ‘Overcapitalized’ after TARP
Economists testifying before the Congressional Oversight Panel, Thursday, agreed on the necessity of the Troubled Asset Relief Program (TARP) 13 months after its launch but debated the health of banks... more»
PMI Ups LTVs, Adds Mortgage Products to Insurance Plans
PMI Group (PMI: 2.12 -0.93%) expanded its eligibility and underwriting guidelines for a number of loan products it insures, in many cases increasing maximum loan to value (LTV)... more»
Ocwen Converts 66% of HAMP Trials to Permanent Modifications
Ocwen Financial Corp. (OCN: 9.46 -1.36%) pushed 66% of its Home Affordable Modification Program (HAMP) trial modifications through to permanency, Paul Koches, a vice president... more»
recent stories
- Fed Buys Another $16Bn of Agency MBS Secondary Market/Investors
- ABCP Outstandings Slip 35% in 2009 Secondary Market/Investors
- FHA Condo Financing Evaporating Origination/Lending
- Got a Lehman signing bonus? Probably not for long
- PMI Group Sees Mixed Housing Activity in September Origination/Lending
- Combined Loan to Values Swell to 107% in July 2009: Equifax Secondary Market/Investors
- House Affordability Dips in Q309: NAHB Origination/Lending
- Prices Down 9.8% in September: First American Origination/Lending
video
most viewed today
- FHA Condo Financing Evaporating
- State Monitors Oversee Modifications in California Bill
- Cornerstone Acquisitions Form Global Real Estate Investment Firm
- Combined Loan to Values Swell to 107% in July 2009: Equifax
- Serious Delinquencies Reach Record 14.4%: MBA
- PMI Group Sees Mixed Housing Activity in September
- SocGen Urges Sale of Dollar Ahead of 'Global Collapse'
- ABCP Outstandings Slip 35% in 2009
Get your HW Fix
Join nearly 10,000 bold subscribers who already get our daily email delivered to their inbox -- it's free, and a great way to ensure you don't miss something.
Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net

