Banks serviced approximately 16.9 million first-lien residential mortgage loans by the end of 2018 according to an OCC report. Click through to learn what the report revealed about loan modifications and foreclosures.
Read More »Wells Fargo Addresses Technical Glitch
While an expanded review of its loan modification products revealed more borrowers being impacted than originally envisaged, here are some steps that the bank plans to take to remediate this error.
Read More »Fiserv Aims for Faster Modification Process with CoreLogic Integration
Wisconsin-based Fiserv, Inc., has announced an agreement with California-based CoreLogic which will reduce default risk and improve the cost and time of servicing.
Read More »Freddie Mac’s Portfolio Expands in December
The mortgage portfolio expanded by 4.5 percent—an increase of $7.14 billion—up to an estimated $1.91 trillion in December. It was the highest annualized growth rate for any one month seen in Freddie Mac's portfolio since December 2009, when it grew by 5.7 percent.
Read More »New Acquisitions Drive Up Business at Fannie
The balance of Fannie Mae's gross mortgage portfolio dropped from $436 billion in October down to $424 billion in November, marking the 52nd time in the last 53 months Fannie Mae's portfolio declined month-over-month. With the exception of December 2012, when the portfolio grew in value at a compound annualized rate of 1 percent, the value of the portfolio has declined every month since June 2010.
Read More »Freddie’s Mortgage Portfolio Crawls Upward
According to Freddie's monthly volume summary, released Monday, the company's total portfolio ended November at an estimated $1.9 trillion, up an annualized 0.4 percent. Year-to-date, the portfolio's growth rate is an average -0.7 percent, the result of six straight months of declines through the year's first half and an additional month of contraction in August.
Read More »Agencies Unveil Enhancements to Housing Program
The enhancements are designed to make monthly mortgage payments affordable for homeowners in MHA who are struggling, to strengthen the safety net for homeowners facing financial hardships, and to help stabilize communities most affected by the financial crisis by helping homeowners in MHA build equity in their homes.
Read More »Fannie’s Book Shrinks for Sixth Straight Month
Fannie Mae's book of business shrank for the sixth straight month in May as the enterprise's mortgage portfolio continued its decline. In its monthly volume summary, Fannie revealed its total book of business contracted at a compound rate of 2.4 percent in May, slightly slower than April's negative growth rate of 2.7 percent. Year-to-date, the book has seen an average annualized negative growth rate of 2.3 percent.
Read More »Fannie Mae’s Book Declines at Annualized Rate of 2.2% in Q1
Fannie Mae’s book of business declined for the first three months of this year, ending the first quarter with a monthly compound annualized rate of -1.8 percent. Over the first quarter, the GSE’s book of business declined at a compound annualized rate of 2.2 percent. Fannie’s gross mortgage portfolio has also been on the decline over the first three months of this year, though at a much slower rate in March than in the first two months of the year.
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