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Home Loans News

Bank Profits Up; Problem Home-Loans Too (AP via Yahoo! Finance)
Profits at federally insured banks and thrifts jumped 8.8 percent last year to a record $145.7 billion but slumping home prices and rising interest rates pushed banks' write-offs of home mortgage loans to a three-year high in the fourth quarter data released Thursday show.

Residential Funding Company Transfers Subservicing of MLN loans to Wells Fargo Home Mortgage (PR Newswire via Yahoo! Finance)
Residential Funding Company LLC formerly known as Residential Funding Corporation in its capacity as master servicer will transfer the subservicing of the loans currently being subserviced by Mortgage Lenders Network USA Inc. on behalf of RFC or its securitization trusts to Wells Fargo Home Mortgage.

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