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Home | News | Government (page 465)

Nationstar Signs Federal Mod Contract

Movers & Shakers, people

Nationstar Mortgage LLC, headquartered in Dallas, Texas, has joined the list of mortgage companies officially under contract to provide federal loan modifications through the government’s Home Affordable Modification program.

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Ten Big Banks Allowed to Repay Bailout

Regulators have given 10 major financial institutions the green light to start repaying billions of dollars in federal bailout money. These banks were deemed by their regulatory supervisors on Tuesday to be strong enough to withdraw from what was formerly the Troubled Asset Relief Program (TARP) but was renamed the Capital Purchase Program (CPP) under the Obama administration.

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Freddie Mac Loosens Refinance Rules

Freddie Mac announced on Friday that it is instituting several changes to its refinance offering under the Obama administration’s Making Home Affordable program. The McLean, Virginia-based GSE explained that the new relaxed guidelines will make the refinancing option available to a wider scope of borrowers looking for mortgage relief from the government program.

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BofA Facilitates Cities' REO Purchases

Bank of America Home Loans recently announced a new streamlined program for municipalities to purchase properties from its REO portfolio. The new guidelines are exclusively for local and state government departments receiving HUD’s Neighborhood Stabilization Program (NSP) grants.

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Industry Groups Issue BPO Standards

The National Association of BPO Professionals (NABPOP) and its BPO Standards Board (BSB) have issued new broker price opinion (BPO) guidelines for real estate agents and brokers to use when determining the probable selling price of residential properties.

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Mortgage Rates Climb Higher

Mortgage interest rates across the board spiked this week, following long-term bond yields higher as the focus among investors shifted to the budget deficit and the possibility of inflation. According to Freddie Mac, the commitment rate for a 30-year fixed rate mortgage is now at its highest level since December 11, 2008, 25 weeks ago.

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