New and revised regulations coming from Capitol Hill are keeping mortgage lenders, servicers, and attorneys on their toes as far as compliance. How easy or difficult has it been to adjust?
Read More »More Consistency and Better Alignment Are Needed in Property Management
The former plan to engage code enforcement in order to avoid citations from the city was for servicers and field services providers to make a pitch to the city officials in which the property was located. But the cities are in a different position because revenues are down due to lower property values.
Read More »Fed Keeps Federal Funds Target Rate At Zero to 1/4 Percent
"In determining how long to maintain this target range, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation," the Fed said in a statement.
Read More »Three States Account for Nearly One-Third of the Country’s Negative Equity
Nevada had the highest share of residential properties in negative equity (commonly referred to as "underwater" or "upside down") in Q2 with 20.6 percent, followed by Florida, Arizona, Rhode Island, and Illinois, according to CoreLogic.
Read More »Experts Believe Single-Family Rental Market is Here to Stay
When the panel of four experts debated whether the current single-family rental market is a "bubble" or is here to stay and the question was put to them by Tim Herriage, the lab's director, three of the four experts answered that it was here to stay. That is, three out of four experts believe that investors will be able to sustain the single-family rental market enough to avoid a housing crisis like the one in 2008.
Read More »Freddie Mac Completes Largest Deeply Delinquent Loan Sale Ever at $1.1 Billion
Approximately 33 percent of the aggregate pool balance consisted of loans that were modified and later became delinquent. The aggregate pool has a loan-to-value ratio of approximately 91.1 based on broker price opinion and is geographically diverse, according to Freddie Mac.
Read More »Freddie Mac Offering Pool of JPMorgan-Serviced NPLs
According to Freddie Mac, the SPO of JPMorgan-serviced loans are being marketed as two geographically diversified pools that are offered via auction, with bids due from qualified bidders on October 6. Freddie Mac said the sale is expected to settle in December 2015.
Read More »Watchdog Says Controls for CFPB Complaint Database Can Be Enhanced
In order to assess the effectiveness of the CFPB's controls over the accuracy and completeness of the database, the OIG performed an audit of these controls relevant to the database covering processes from January 1, 2014, through June 30, 2014, and complaints in the database through June 30, 2014.
Read More »First and Second Mortgage Default Rates Rise for the Second Time in Three Months
The first mortgage default rate for August was 0.84 percent, up four basis points from July. This default rate fell to a historic low of 0.74 percent in May, then jumped by six basis points in June and held steady in July.
Read More »Share of Underwater Borrowers Drops to 8.7%; ‘Negative Equity Epidemic is Lifting’
The national aggregate value of negative equity at the end of Q2 was approximately $309.5 billion, which was a decline from $338 billion at the end of Q1 and from $350 billion year-over-year (11.6 percent), according to CoreLogic.
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