Fannie Mae estimated that it incurred losses from short sales of the 10,310 non-owner occupied properties for 2012 totaling some $953.5 million.

Speaking at a housing finance forum sponsored by the Urban Institute and CoreLogic, Gene Sperling, a White House economic advisor, said the Obama Administration believes the “risks are simply too great and that this would recreate the problems of the past.”

The decline in the use of proprietary loan mods also has outpaced a decline in foreclosure sales. Some 166,809 foreclosures were completed in the third quarter of 2013, down 2 percent from the first quarter of 2013.

The Consumer Financial Protection Bureau had previously indicated that the industry could expect the rule sometime in September, then October, and now, sometime before year’s end.

The exact g-fees charged to primary originators by Fannie Mae and Freddie Mac are one of the best kept secrets in the industry.

The man heading the MSR sales effort for Wells Fargo is Brian Kunar, who carries the title of senior vice president of servicing sales.

The settlement offer – which does not cover claims on trusts issued by Washington Mutual – will remain open until Jan. 15, 2014, but may be extended.

Under the new guidance, lenders must report to FHA all findings of fraud and material misrepresentations concerning the origination, underwriting or servicing of a loan that the lender is unable to mitigate or resolve.

In a new letter to CFPB Director Richard Cordray, the ICBA and 41 state affiliates say they want a “reasonable transition period of nine to 12 months."

Mortgage professionals who work the M&A trade contend that interest in residential finance is not waning in the least, but potential buyers are being a bit more choosey these days.