On Wednesday, March 14, 2018, the American Mortgage Diversity Council (AMDC), in partnership with Federal Home Loan Bank (FHLB) of Chicago, hosted a town hall discussion with leaders from the Chicago LGBT community. The meeting was the second in a series of ...
Read More »Fannie Offers Sixth Sale of Reperforming Loans
On Tuesday, Fannie Mae announced its sixth sale of reperforming loans. Reperforming loans are mortgages that had become delinquent, but which have recovered thanks to borrowers either catching up on their payments or working to secure loan modifications. This sixth ...
Read More »Reverse Mortgage Securities Market Booming—for Now
February 2018 was an excellent month for investors in reverse mortgage securities. According to New View Advisors, a financial services advisory firm located in New York, issuers of home-equity conversion mortgage-backed securities (HMBS) sold 129 pools in February, totaling $1.47 ...
Read More »Collingwood’s Tim Rood: Moving Mortgage Forward
Tim Rood is the Co-Founder and Chairman of the Collingwood Group, a Washington, D.C.-based advocacy group for the housing and mortgage industries. Collingwood works to identify and secure business opportunities with the federal government and the GSEs; helps financial services ...
Read More »The Long Road to Recovery for Ohio and Foreclosures
Ohio was at the forefront of the housing crisis that the nation has been working to recover from for the past decade. According to a 2016 report by Policy Matters Ohio, there were 40,479 new foreclosure filings in Ohio in ...
Read More »PennyMac Selects Nordis Technologies as Print/Mail Partner
Nordis Technologies, based in Coral Springs, Flordia, has secured a major new customer, PennyMac Financial Services Inc., a leading national residential mortgage lender and loan servicer, for its print and mail services. Nordis is ramping up production and distribution of ...
Read More »Citadel Introduces Program Enhancements for Non-Prime Credit Borrowers
California-based non-prime wholesale residential lender Citadel Servicing Corporation (CSC) has announced a major update to their product platform. Effective immediately, CSC will begin offering a 5/1 Hybrid Adjustable Rate Mortgage (ARM) and 5/25 Interest Only (IO) term. This now allows borrowers to ...
Read More »Prober & Raphael President Dean Prober Passes Away
Dean Prober, Senior Partner and President of the California-based firm of Prober & Raphael, has passed away. According to a media statement from Prober & Raphael, Prober passed away on March 1, 2018, surrounded by his family and following a battle ...
Read More »The Week Ahead: Home Builders Weigh in
On Thursday at 10 a.m. EST, the National Association of Home Builders will release their latest monthly installment of the Housing Market Index (HMI). The monthly HMI index gauges builder perceptions of current single-family home sales and sales expectations for ...
Read More »Bankruptcy Judge Backs Lehman Brothers in RMBS Suit
A New York bankruptcy judge has ruled that Lehman Brothers Holdings, Inc. will have to pay around $2.4 billion to investors in order to settle disputes over toxic residential mortgage-backed securities (RMBS) sold by the bank during the financial crisis. ...
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