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Tag Archives: Freddie Mac

Freddie Mac Puts NPL Pool Worth $233 Million Up for Auction

The loans being offered in the pool are deeply delinquent and are geographically diverse. All the loans in the pool are currently being serviced by Ocwen Financial. Bids are due from qualified bidders for the pool on May 20 and the sale is expected to settle sometime in July.

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Will Banks Benefit From Recent Non-Performing Loan Sales by GSEs?

While the demand for high-quality mortgage-backed securities has been slow since the housing crisis, Fitch said that more major institutional buyers that are hungry for new, higher-yielding investment opportunities have emerged as suitors for bulk NPL pools. Previously, distressed mortgage buyers tended to be specialized alternative investment firms.

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Mortgage Industry and Default Servicing Law Firms Convene at Legal League Servicer Summit

As is true in several other sections of the industry, regulatory compliance was a hot button issue. Several discussions at the Servicer Summit were centered on the question of how to adapt to constant regulatory changes and avoid the adverse effects of non-compliance. The evolving business landscape was another major theme of discussion at the Servicer Summit. With foreclosures on the decline in the last two to three years, many default servicing firms have struggled to maintain their position in the industry.

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FHFA: Current G-Fees Are at an Appropriate Level, Only Modest Adjustments Needed

When considering adjustments to G-fees for certain categories of loans, FHFA took into account the decision (also announced Friday) to enhance the eligibility standards for mortgage insurance companies. Overall, the FHFA said, the modest changes being made to the upfront G-fees are revenue neutral and will mean little or no change for Fannie Mae and Freddie Mac.

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FHFA Launches Neighborhood Stabilization Pilot Program in Illinois

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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