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Home | Tag Archives: FHFA

Tag Archives: FHFA

FHFA Launches Neighborhood Stabilization Pilot Program in Illinois

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The Neighborhood Stabilization Initiative is a set of strategies that aim to help delinquent borrowers avoid foreclosure and create a more efficient disposition path for foreclosed properties that will first be introduced in Cook County, Illinois. The housing market in the county, which contains Chicago, took a precipitous dive at the end of 2008 that took four years to reverse, according to data from DePaul University.

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Housing Advocates Ask Regulators to Investigate Possible Pro-Foreclosure Campaigns

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The letter, dated April 15, is addressed to Department of Treasury Secretary Jack Lew, Federal Housing Finance Agency Director Mel Watt, and Consumer Financial Protection Bureau Richard Cordray. Ten housing groups signed the letter, which asks the regulators to investigate the investors for allegedly attempting to push borrowers into foreclosure instead of steering them toward loss mitigation plans.

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Nomura, FHFA Present Closing Arguments in MBS Trial

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FHFA alleges it suffered monumental losses when the sponsor of the mortgage-backed securities, Tokyo-based Nomura, and the securities' underwriter, Royal Bank of Scotland, did not follow underwriting guidelines on 68 percent of a sample of a bundle of securities backing more than $2 billion worth of mortgages sold to the GSEs prior to the financial crisis of 2008.

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Fannie Mae Begins Marketing First-Ever Bulk NPL Sale

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Fannie Mae announced on Wednesday that it will make available for purchase to qualified bidders a bundle of approximately 3,200 non-performing single-family residential mortgage loans (NPLs) totaling about $786 million in unpaid principal balance (UPB). This will be Fannie Mae's first bulk sale of NPLs as the GSEs push to clear deeply delinquent loans from their mortgage portfolios at the behest of their conservator, the Federal Housing Finance Agency (FHFA).

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