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MortgageSpeak.com Newsletter

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The record $26 billion foreclosure-abuse settlement that states and the Obama administration reached last week with five big banks is being billed as a program that will help more than 1 million U.S. homeowners.

New Jerseyans should not be fooled by the recent mortgage servicing settlement announced by the U.S. attorney general and 49 state attorneys general that has been touted as the best thing since sliced bread (“Landmark deal sends mortgage aid New Jersey’s way — State gets $838M in settlement with five banks,” Feb. 10).

The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance.

The Mortgage Forgiveness Debt Relief Act — under which a reduction on mortgage principal as a result of a loan modification, short sale or foreclosure is not subject to federal income tax — will expire in 10 months, and there are early indications that Congress might not renew it by then.

DRI Management Systems, Inc., the 27-year leader in default management software, has hired Michael J. Bailin for the newly created position of regional sales executive in the western states, and promoted Nancy Schaefer to senior vice president for Client Operations. 

MountainSeed, a provider of appraisal management services to community and regional financial institutions, announced that Fidelity Bank, one of Atlanta’s largest community banks providing personal and corporate financial services, has selected it to provide appraisal and compliance services for its real estate portfolio.

Wingspan Expands Services And Facilities To Meet Demand, Quadruples Number Of Employees

Wingspan Portfolio Advisors, a Dallas-based diversified servicing company, continues its accelerating growth offering a wide range of services to assist the mortgage industry in virtually every aspect of delinquent loan servicing.

Sperlonga Expands Life of Loan HOA Monitoring Service as Aid in Predicting Defaults

Sperlonga Data and Analytics of Arlington, Virginia, a subsidiary of national real estate asset firm MMREM, has expanded its service designed to help mortgage lenders and servicers reduce risk by alerting them when borrowers fall behind on their homeowners association (HOA) fees.

eMortgage Logic Taps Nationwide Multiple Listing Data for Faster, More Reliable Valuations

eMortgage Logic, LLC (EML), a leading national provider of residential real property valuations, data and analytics for mortgage lenders, servicers and investors, announced it has integrated nationwide multiple listing service (MLS) data into its valuation management platform, providing a higher level of quality control, faster service and newer, more accurate solutions than currently available in the mortgage industry.

ISGN Introduces LoanGPS™, a Transparent Workflow Tool for Mortgage Processing

ISGN Corporation^™ (“ISGN”), a leading provider of end-to-end technology solutions and services to the U.S. mortgage industry, has introduced LoanGPS™, a collaborative processing engine and workflow tool, to efficiently enhance ISGN’s processing of outsourced mortgages for third parties.

GCC Servicing Systems Launches New G/SERV User Interface

GCC Servicing Systems, a provider of mortgage servicing technology and solutions, has introduced an updated user interface for its G/SERV end-to-end loan servicing platform.

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