Mortgage servicing operations continued to account for the largest share of overall mortgage banking income for the industry heavyweights during the first quarter of 2010, according to a new Inside Mortgage Trends analysis of earnings reports. A group of nine major mortgage lenders reported a combined $3.375 billion in net servicing income... [Includes one chart and one graph]
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Top mortgage lenders are coming up with innovative approaches to product offerings and pricing strategies as the effectiveness of their traditional models has peaked, according to Rob Friedman, a director at Deloitte who heads the consulting firm’s pricing and profitability management practice for the banking industry. Friedman, a Wharton School grad with more than...
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The Obama administration’s ambitious foreclosure mitigation program has been hampered by the complexity of launching a national effort involving scores of mortgage servicers and two slow-moving government-sponsored enterprises – all under the direction of government bureaucracy. Fannie Mae, the government’s principal agent for managing the Home Affordable Modification...
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Short sales have gained momentum due to rising delinquencies and falling home prices, but some servicers are doing a much better job than others when it comes to the speed of the transactions, according to a recent report from Deutsche Bank Securities. Short sales – when a servicer accepts a payment from a borrower that is less than the amount left on the mortgage in exchange...
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A federal bankruptcy court in Manhattan will decide July 14 on a petition by Lehman Brothers Holdings Inc. to shift certain mortgage servicing rights to a Delaware bank subsidiary that it is trying to sell. Lawyers for the former Wall Street titan have asked Judge James Peck of the U.S. Bankruptcy Court for the Southern District to approve the transfer of rights...
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Veros, a provider of collateral valuation technology, enterprise risk management and predictive... Marshall & Ilsley Bank, based in Milwaukee, WI, recently chose mortgage technology company FNC Inc... BlackBox Logic LLC, a Denver-based data aggregation service company that provides a comprehensive...
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