Fannie Mae’s and Freddie Mac’s regulator, the Federal Housing Finance Agency (FHFA), submitted a proposed rule to the Federal Register this week to revise the GSEs’ housing goals for the year.
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Jacksonville, Florida’s Lender Processing Services (LPS), Inc. released its latest LPS Mortgage Monitor this week, which provides mortgage industry performance indicators as of March month-end. Among the findings, LPS reported that the number of newly delinquent loans declined in March to 7.
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Southfield, Michigan’s Woodward Asset Capital, LLC has announced the launch of OfferSubmission.com, a proprietary web-based software program that allows mortgage asset owners to control the REO disposition process, while providing transparency for real estate agents and institutional sellers.
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The U.S. Senate has voted down legislation that would allow bankruptcy court judges to modify the interest rate, terms, or even principal balance owed on primary-residence mortgages. After passing by a good margin in the House in early March, the cramdown bill failed in the Senate on Thursday by a vote of 45 to 51.
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The first 100 days of President Barack Obama’s administration have been marked by pressure to stabilize and reverse the nation’s financial crisis, and in doing so, establish regulatory reform within the financial and lending communities.
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The New York Federal Reserve Bank purchased $23.142 billion in mortgage-backed securities (MBS) from government agencies this week. Of the Fed’s new commitment to buy $1.25 trillion in MBS this year, its purchases now stand at $404 billion.
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The law firm of Reisenfeld & Associates LPA, LLC announced this week that it has expanded its foreclosure and bankruptcy departments with the recent hiring of attorneys Phyllis A. Carmer and Martha R.
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Waltham, Massachusetts-based Pro-Teck Services announced on Wednesday that the company has hired Andrew Merz for the newly created position of director of training and professional development.
The company explained that Merz, who received his masters degree from Arizona State University, will be responsible for creating and conducting programs aimed at enhancing quality and productivity through improved employee and vendor skills.
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At an annual investors meeting in Charlotte, North Carolina, on Wednesday evening, Bank of America’s shareholders voted to strip Kenneth D. Lewis of his chairman title. According to a New York Times:http://www.
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Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) on Thursday, which showed that rates for fixed-rate mortgages this week lingered at their record lows and those for adjustable-rate mortgages also eased.
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The single-family median home price in Rhode Island fell 25.9 percent in the first quarter compared to the same period in 2008, according to a report released Thursday by The Warren Group, which provides real estate data for the New England area.
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The U.S. Senate approved a bill this week that will give federal investigators new resources and additional funding to combat mortgage crimes and housing scams. According to officials, an estimated 5,000 new mortgage fraud cases are reported every month.
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The government has said its Home Affordable Refinance Program will lower monthly mortgage payments for four to five million homeowners. The initiative targets those home loans that are held by Fannie Mae and Freddie Mac, and the administration has expanded the eligibility pool by allowing borrowers to refinance even if they owe 5 percent more than the home’s current market value.
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The May 1 deadline for the new Home Valuation Code of Conduct (HVCC) is rapidly approaching. Beginning Friday, Fannie Mae and Freddie Mac will refuse to purchase mortgages that do not comply with the HVCC regulations for property appraisals.
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The Treasury Department announced on Wednesday that it has received more than 100 applications from companies interested in serving as fund managers for the legacy securities portion of its Public Private Investment Program (PPIP).
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No Paws Left Behind, Inc., a 501c3 non-profit organization dedicated to bringing awareness to and finding solutions for the growing phenomena of foreclosure pets, announced on Tuesday that it has accepted a $16,000 contribution from Blommer Peterman, S.
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Green Tree Servicing LLC, of St. Paul, Minnesota, has joined the growing list of mortgage companies officially under contract to provide federal loan modifications through the government’s Home Affordable Modification Program.
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Sales of single-family homes in Massachusetts during the first quarter dropped nearly 11 percent, according to a market report released Wednesday by the Boston-based research firm The Warren Group. During the first three months of the year, the company said 6,160 homes were sold in the Bay State, down from 6,912 for the same period last year.
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The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending April 24, 2009, which showed that despite high affordability conditions within the marketplace, the number of people applying for a home loan dropped significantly last week.
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Potestivo & Associates, P.C., a provider of legal services to the default industry, announced on Monday that Keith H. Werwas has joined the firm as a new associate attorney. Werwas will be working out of the firm’s Chicago office, practicing in the areas of foreclosure, bankruptcy, landlord and tenant matters, title resolution, loss mitigation, and REO disposition.
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