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As the new year rolls in, DS News is taking a look back at some of the biggest foreclosure headlines and stories of 2014:
1. Amended Ohio Foreclosure Expedition Bill Dies in Senate Finance Committee – An amended Ohio House bill that was originally intended to reduce the lengthy residential foreclosure process and eliminate blight in Ohio neighborhoods died in the Ohio Senate Finance Committee.
2. CFPB Proposes to Expand Foreclosure Protections – The Consumer Financial Protection Bureau (CFPB) proposed an additional set of measures designed to expand foreclosure protections for mortgage borrowers.
3. Lenders Appeal Court Decision Allowing HOAs to Extinguish Mortgages – Several mortgage lenders have asked the Nevada Supreme Court to reverse a decision it made in September that a homeowners association's (HOA) super priority lien can extinguish a first deed of trust nonjudicially on a residential property.
4. Fannie Mae Relaxes Waiting Period for Distressed Borrowers – Fannie Mae recently released a report revising the waiting periods for borrowers with a derogatory credit event such as a foreclosure, bankruptcy, short sale, or deed-in-lieu of foreclosure on their credit history to obtain a new loan.
5. Firm to Sell $2.3 Billion in Nonperforming Loans for HUD – Online marketplace exchange DebtX announced its intention to sell 15,000 nonperforming residential loans for the U.S. Department of Housing and Urban Development (HUD) as part of the agency's Single-Family Loan Sale (SFLS) program. The unpaid principal balance of the loans amounts to about $2.3 billion.
