Loss severities on loans serviced by banks were reported to be more than 10 percent higher than loss severities on non-bank serviced loans in those three states, which accounted for 42 percent of all subprime loans in foreclosure in private-label residential mortgage-backed securities.
Read More »Ask the Economist: How Have Zero Interest Rates Affected the Housing Industry?
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Rodney Ramcharan, Associate Professor of Public Policy and Research Director of the USC Lusk Center for Real Estate.
Read More »Fannie Mae Offers Three Pools of NPLs totaling $1.2 Billion in UPB
Fannie Mae's NPL transactions require the loan owner to market the property exclusively to owner-occupants and non-profits before offering it to investors when foreclosure cannot be prevented.
Read More »Ask the Economist: Rise in Employment, Millennial Demand Will Bring Housing Up in 2016
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Selma Hepp, Chief Economist with Trulia.
Read More »Fannie Mae, Freddie Mac Bring Foreclosure Prevention Total to 3.56 Million
With July's total of nearly 20,000 foreclosure prevention actions, the Enterprises have now completed 3.56 million such actions since the start of the conservatorship in September 2008, according to FHFA.
Read More »Distressed Sales Move Closer to ‘Normal’ Levels
Sales of distressed residential properties (REOs and short sales) continued heading toward their "normal" levels with another substantial year-over-year decline in July 2015, according to distressed sales data released by CoreLogic on Thursday.
Read More »Why Did Nearly One-Third of House Democrats Vote to Oppose the CFPB?
So why did 64 Democrats—about a third of the 188 Democrats in the U.S. House of Representatives—vote in favor of H.R. 3192, the Homebuyers Assistance Act, on Wednesday to implement a formal grace period until February 1, 2016, for compliance with the CFPB's TILA-RESPA Integrated Disclosure (TRID) rule?
Read More »CFPB Considers Opening the Door for Class Action Lawsuits
The Consumer Financial Protection Bureau (CFPB) announced on Wednesday it is considering proposing rules that will make consumer financial companies more accountable to the consumers they serve. The Bureau is considering a proposal that would prevent consumer financial companies from using "free pass" arbitration clauses that would prevent consumers from bringing class action lawsuits to obtain relief.
Read More »IG Condemns FHFA’s Review of GSE Budgets
According to a recent report from the FHFA Office of the Inspector General, however, the Agency's budget review and approval process has fallen short of achieving that stated purpose due to a number of factors that include late timing, cursory-level analysis, and inadequate resources.
Read More »Auction.com Hires New SVP of Commercial Real Estate Finance
Auction.com, a leading national online real estate marketplace headquartered in Irvine, California, has announced the hiring of Sharmila Patel as SVP of commercial real estate finance and operations.
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