Strategic management can reduce the fiscal impact of increasing mortgage delinquencies, and at least one analyst thinks subprime servicers are prepared for the deluge. In a recent report, Standard & Poor’s analyst Robert Mackey said he is “confident that servicers...
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Increases in default and foreclosure rates have given a new urgency to risk control and default management – and opened up new opportunities to create technological solutions. “I think the lending community has been aware of the need to address the default component...
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Resetting interest rates on ARM loans may cause over a million foreclosures over the next six to seven years, costing lenders and investors about $112 billion, according to a study released this week by First American CoreLogic. The study asserts that 13 percent of...
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More subprime lenders have gone under, one of the largest moved closer to the brink and lenders with more diversified business are taking hits. On the other hand, a couple of struggling companies grabbed life-lines this week that will keep them afloat, at least...
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GE Capital Solutions has agreed to acquire PHH Corp in an all-cash transaction worth about $1.8 billion, roughly a 13 percent premium. As part of the deal, GE will sell the prime mortgage origination and servicing operations of PHH to an affiliate of The Blackstone Group...
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Charter Mac this month reported 2006 net income of $41.29 million, down 30 percent from the year before, as the company completed a corporate overhaul that significantly broadened its marketplace focus. But the company’s fortunes began turning around in the...
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A fourth-quarter rebound in mortgage servicing income was not enough to offset a disastrous third quarter, and thrift servicers ended 2006 having reaped 30 percent less servicing income than in 2005.Thrifts saw their mortgage... [Includes one chart and one graph]
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