Fannie Activity Deteriorates
New business acquisitions again sank to their lowest level on record last month at Fannie Mae -- contrasting results at secondary rival Freddie Mac. Fannie's delinquency worsened as its book of business declined.

National City Settles Class Action
National City Mortgage Inc. has settled a West Virginia class-action lawsuit. The lender is accused of illegally returning partial payments and charging multiple late fees on rolling 30-day delinquencies.

The Loan Mod Ledger
As loan modification programs grow, so do the number of companies that prey on delinquent borrowers and the number of firms that exploit lender compliance errors.

Mortgage Compliance Issues Solved
Three technology firms have beefed up the compliance features of their loan origination systems. Meanwhile, servicers also saw compliance improvements to loss mitigation offerings.

Freddie Purchases, Portfolio Higher
Aside from worsening delinquency, Freddie Mac had strong activity last month.

American Home Servicer Ratings Upgraded
American Home Mortgage Servicing Inc. saw its servicer ratings upgraded.

Junior Lien RMBS Downgraded
Concerns over performance and financial guarantors led to recent downgrades on securitizations backed by home-equity lines-of-credit, home-improvement loans and second liens.

Regulators Report Deteriorating Performance
New foreclosure filings fell during the latest quarter, but delinquency, foreclosures-in-process and real estate owned filings rose, according to new government data. An even more troubling statistic -- a deterioration in re-defaults on modified loans -- was led by investor-owned loans and subprime mortgages.

2 Million Modifications in 2009
HOPE NOW reported a monthly decline in foreclosure sales and projected that 2 million modifications will be executed next year.