Servicing

June 17, 2013

Ex-BofA employees allege mishandling of HAMP applications

Bank of America is prepared to address allegations from former employees who claim the mega bank routinely stalled...

Virginia court: Mortgage servicers can foreclose, despite alleged promises to borrower

The Virginia Fourth Court of Appeals upheld a lower court ruling in Roanoke that a mortgage servicer can legally foreclose, even if a borrower claims they were told something otherwise.

They Said It

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"Structuring the AG settlement credits this way makes it more of an additive for principal reduction," Kingsley said. "This way, more borrowers could potentially receive some form of reduced principal."

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The Ticker

» Justices agree to hear fair housing case

» BofA accused of paying bonuses for foreclosures

» Michigan foreclosure bills may do more harm than good

» Supreme Court agrees to hear fair lending case

» DocMagic becomes eServices vendor for Fifth Third

» Lowe's spends $205 million on California housing rush

» NY attorneys appointed to handle foreclosure sales come under scrutiny

» Actor Tom Hanks and wife sell home for $5.225 million

» Dallas-Fort Worth area foreclosures auctions fall by 45%

» Multi-generational housing becomes new trend

Servicing News

RealtyTrac: May foreclosures inch up 2%

Housing recovery evolves mortgage modification landscape

CoreLogic: Nearly 1 million houses float back into positive equity

Monday Morning Cup of Coffee: Mixed reactions on Florida foreclosure bill

Florida governor signs bill to speed up state's foreclosure process

Foreclosure programs aid 1.6 million homeowners: Obama Scorecard

Oregon bankers find path back to non-judicial foreclosures

Florida AG rips Bank of America over lingering servicing issues

ReWired

CoreLogic chat shows short sale fraud evolving in unexpected ways

Mortgage fraud has steadily increased since the fourth quarter of 2010, with some homeowner efforts to stop a house going to short sale going too far in some cases, according to CoreLogic.

June Cover Story

Virtual realty: HousingWire's top 50 real estate tech solutions

HousingWire introduces its inaugural RETech:50 highlighting the accomplishments of 50 technology-driven real estate companies.

Feature

Private-label RMBS trailblazer Redwood Trust sets aggressive issuance pace

by Christina Mlynski

There are only a handful of consistencies investors can rely on in the private-label market these days. Redwood Trust issuing at least one residential mortgage-backed securities deal a month is one.

Commentary

Too big to fail remains issue

by David Altig

As Federal Reserve Chairman Ben Bernanke has indicated, too-big-to-fail remains a major issue that is not solved, but "there’s a lot of work in train."

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