The Consumer Financial Protection Bureau (CPFB) issued guidance Friday to curb mortgage brokers transitioning into the “Mini-Correspondent” lender model in the hopes of avoiding the Mortgage consumer protections affecting broker compensation that took effect in January of 2014.
Read More »FHFA Proposing New Insurance Requirements
The Federal Housing Finance Agency (FHFA) put out the call on Thursday for public comment regarding the draft of requirements that would apply to private mortgage insurance companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac.
Read More »HUD: Housing Outlook Good, More to be Done
U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the June edition of the Obama Administration's Housing Scorecard Thursday. It paints a picture of a housing market that is improving but still subject to ebbs and flows of the broader economy.
Read More »Legislation Introduced to Wind Down Fannie, Freddie
The latest in a series of proposed GSE reforms was announced on Thursday. Congressional Representatives John K. Delaney (D-Maryland), John Carney (D-Delaware), and Jim Himes (D-Connecticut) introduced housing finance reform legislation, aimed at winding down Fannie Mae and Freddie Mac and replacing them with a federally backed insurance program administered through Ginnie Mae.
Read More »RealtyBid Names New President
RealtyBid.com Founder and CEO Tony Isbell announced that the company is naming Jenny Atchley as President of the company. Atchley is the former manager of operations manager at RealtyBid and has been employed there since its inception 15 years ago.
Read More »Report: Home Prices Affected by Foreclosure Status
RealtyTrac released a study Thursday for the first time ever profiling what single family homes sell at the deepest discounts and what single family homes sell at the highest premiums.
Read More »Castro Confirmed as HUD Secretary
The United States Senate voted 71-26 Wednesday to confirm former San Antonio, Texas Mayor Julian Castro as the next Secretary of the Department of Housing and Urban Development. Castro replaces outgoing Secretary Shaun Donovan who is leaving to serve as the Director of the White House Office of Management and Budget.
Read More »Citigroup Nears $7 Billion Deal to Resolve Mortgage Probe
Citigroup is close to a deal with the Department of Justice to resolve allegations that the bank sold defective mortgage backed securities in the lead up to the financial crisis.
Read More »Watt Blames Homeowner Skepticism for HARP Slowdown
In a town hall style meeting in Chicago Tuesday, Mel Watt, Director of the Federal Housing Finance Agency, blamed fear of being taken in by a scam for eligible homeowner’s reluctance to take advantage of the Home Affordable Refinance program.
Read More »CFPB Issues Ruling to keep Heirs from Falling into Foreclosure
The Consumer Financial Protection Bureau (CFPB) issued guidance Tuesday aimed at making it easier for surviving family members who have inherited a property due the death of a loved one to be added to the mortgage, allowing them to seek modification or refinance and avoid foreclosure.
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