The Treasury Department is setting up a Homeownership Preservation Office to ride herd on servicers that are failing to turn trial loan modifications into permanent modifications.

The Federal Housing Administration on Monday unveiled new proposals to strengthen its depleted insurance fund, including a mandate for all FHA lenders to maintain minimum capital of $2.5 million within three years.

Marathon Asset Management LP, after raising $500 million from investors, has been cleared by the Treasury Department to participate in its 'Public-Private Investment Program' to buy toxic mortgage assets.

Fannie Mae issued $40.7 billion in mortgage-backed securities in October, down 14.5% from September, according to the government-sponsored enterprise.

Homeowners with combined loan-to-value ratios greater than 120% are more likely to fall behind on their payments than other borrowers who lose their job, according to analysts at the Amherst Securities Group.

The median price of existing houses rose for the eighth consecutive month in California in October, while the statewide inventory on unsold units fell to a four-months' supply, according to the California Association of Realtors.

Lenders Asset Management Corp., a nationwide default asset manager in Littleton, Colo., is expanding its REO liquidation management process to effectively handle the intricacies of each account.

Phoenix-based CCG Catalyst now offers contract negotiation services to financial institutions for vendors such as loan origination systems, servicing and online banking providers.