LoanCare Servicer Rating Upgraded
For the second time in less than 30 days, Moody's Investors Service upgraded the servicer rating of LoanCare Servicing Center Inc.

LoanCare's residential servicer quality rating was raised to SQ3+ from SQ3-, an announcement Tuesday said.

The best possible rating is SQ1+, while the lowest rating is SQ5-.
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Mortgage Jobs Open in Several States
Several FHA jobs are open in Michigan, while a Florida-based financial institution is adding servicing and processing positions. A report on Texas employment found activity within the mortgage sector there.

Residential Delinquency Mixed at Banks
Residential delinquency improved during the latest quarter, though serious delinquency deteriorated, according to an analysis of mortgage data from the country's biggest banks.

M.I. Defaults Rise, New Business Declines
Mortgage insurance defaults increased and new business decreased as policies in force fell for the fifth straight month.

Serious Delinquency Soars at Fannie
Fannie Mae saw a jump in new monthly business. But serious residential delinquency climbed to a new high, while multifamily delinquency has quadrupled over the past year.

Record Delinquency at Freddie as Business Drops
Freddie Mac delinquency has increased each month for the past two years and stands at an all-time high. New business, meanwhile, was down from the prior month and the prior year.

Executives In, Executives Out
Much of the recent executive activity tied to financial services has occurred at the federal government -- though at least one servicer and one trade group announced changes at the top.

Mortgage Compliance Wire
The implementation of the new appraisal code has devastated borrowers, destroyed appraisal quality and increased loan expenses, according to two groups. In other mortgage compliance activity, one offering promises to help lenders comply with new regulations that apply when a loan is sold.

ResCap Ratings Raised
Residential Capital LLC's servicer ratings have been upgraded.

Collection Calls Lead to Judgment
A federal judge has awarded a New Hampshire woman $200 per telephone call for hundreds of calls allegedly made by Ameriquest Mortgage Co. after she asked the company to stop harassing her. But the judge dismissed claims by the woman -- who represented herself in federal court -- that Ameriquest should have stopped her from a bumbling attempt to develop her own property and from borrowing more than she knew she could afford.