Servicers Asked to Consider a $21,000 “Cash for Keys” Option

After reports that the largest mortgage servicers, some attorneys general, and even some government agencies are not comfortable with the terms in the servicer proposal, there has been renewed effort to try to come to a solution that works for all parties. The proposal was given to servicers with the intent of revising and coming […]

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FDIC Sells Pool of AmTrust Nonperformers for 37 Cents on the Dollar

By: Carrie Bay A three-party consortium of opportunists has purchased a stake in an $898 million pool of nonperforming residential loans that the FDIC seized from AmTrust Bank when it went under last December. The procurers – which include mortgage servicer Residential Credit Solutions, hedge fund CarVal Investors, and the Royal Bank of Scotland’s RBS […]

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