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PennyMac Becomes Billion Dollar Player

admin — Wed, 08 Feb 2012 08:02:11 +0000

Quarterly correspondent fundings and the mortgage investment portfolio at PennyMac Mortgage Investment Trust have each reached nearly a billion dollars.

Fourth-quarter correspondent production more than quadrupled PennyMac’s third-quarter activity.

The mortgage investment portfolio was valued at nearly $1 billion as of the end of last year. The total included distressed residential mortgage whole loans, real-estate-owned assets and mortgage-backed securities.

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DocX, Founder Indicted

admin — Tue, 07 Feb 2012 17:02:03 +0000

A grand jury has indicted DocX and founder Lorraine Brown, who could spend up to seven years in prison if she is convicted.

Charges were based on 68 foreclosure documents with signatures in the name of Linda Green but allegedly not actually signed by Green.

The criminal indictment is just one in a series of civil and criminal legal woes plaguing DocX parent Lender Processing Services.

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Worst HAMP Month on Record

admin — Tue, 07 Feb 2012 17:02:02 +0000

During the final month of 2011, the number of loan modifications completed under the government’s program saw the smallest gain in the history of the program.

The Obama administration reported that 762,839 permanent loan modifications were active as of Dec. 31, 2011. The modifications were completed through the Home Affordable Modification Program.

That was a gain of 12,091 over November — the smallest gain on record.

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