Refinance Free Credit

It didn’t take long for the ex-Bear Stearns mortgage hands to move to the front of the pack at Residential Capital, LLC, with GMAC Financial Services announcing Tuesday that Thomas Marano had been named chairman and chief executive officer, effective immediately, replacing current CEO Jim Jones. The company said in a press statement that [...]

Home prices in the conforming and jumbo conforming housing market continued to fall during May, dropping 0.3 percent on a seasonally-adjusted basis from April and ending the month off 4.8 percent from year-ago average prices, according to data released Tuesday by the Office of Federal Housing Enterprise Oversight. Leading the month-over-month decline in housing prices during [...]

The U.S. Treasury’s push to gain the authority to buy equity positions in one or both of Fannie Mae (FNM: 12.87 -8.92%) and Freddie Mac (FRE: 8.24 -5.83%) could end up costing a pretty penny, as the Congressional Budget Office on Tuesday put out the first published estimate of the cost of government intervention into [...]

The U.S. Treasury’s push to gain the authority to buy equity positions in one or both of Fannie Mae (FNM: 13.02 -7.86%) and Freddie Mac (FRE: 8.24 -5.83%) could end up costing a pretty penny, as the Congressional Budget Office on Tuesday put out the first published estimate of the cost of government intervention into [...]

The banks are getting testy, and in some ways it’s certainly reminiscent of various mortgage lenders during the height of a spate of lender failures in the middle part of last year. Case in point: Fort Lauderdale, Florida-based BankAtlantic Bancorp Inc. (BKUNA: 1.73 -7.98%) has decided to sue Ladenburg Thalmann & Co. analyst Richard Bove [...]

EverBank Financial Corp. isn’t waiting for the dust to settle in the mortgage industry’s general collapse — instead, it’s lining up investors and said Tuesday that it’s looking to start shopping. The Jacksonville-based financial services firm said that it had recently closed on a capital investment of approximately $100 million from an affiliate of Sageview Capital [...]

For those that missed it, HW’s Richard Bitner hit it out of the part last night on The Daily Show. Enjoy:

Lender Processing Services, Inc. (LPS: 30.00 +0.44%) hasn’t wasted any time making a major move after its recent spin-off from Fidelity National Information Services, Inc. (FIS: 20.07 +1.16%). The company said Tuesday morning that it had acquired McDash Analytics LLC, which provides access to the industry’s largest loan-level database of mortgage assets for the purpose [...]

Code compliance is big-ticket risk item for mortgage servicers these days, when it comes to managing foreclosed real estate; many local governments are upping the ante on maintenance, and levying hefty fines for code violations — not only because urban blight has become a front-page news story, but because of a need to offset declines [...]

Super-regional banks Fifth Third Bancorp (FITB: 13.30 -0.67%) and KeyCorp (KEY: 10.97 -4.61%) swung into the red during the second quarter, as credit costs exacted their pound of flesh from a regional banking sector that’s increasingly looking vulnerable to continued deterioration in the mortgage and housing markets. Cincinnati-based Fifth Third said that it lost $202 million, [...]