Bethsesda, Maryland-based IT and logistical support provider Information Systems & Network (ISN) Corporation has been awarded the contract to serve as Mortgagee Compliance Manager (MCM) for the U.S. Department of Housing and Urban Development (HUD).

Fannie Mae reported positive net worth of $3.7 billion as of the end of 2014, slightly more than half of which ($1.9 billion) represented a dividend obligation to the Department of Treasury that was paid on March 31, 2015. Fannie Mae's net income for 2014 of $14.2 billion was only a fraction of the $84 billion the GSE reported for 2013, according to FHFA.

Full-service residential and commercial real estate legal services firm McCalla Raymer, LLC has announced the opening of a new office in Oxford, Mississippi, as well as the addition of senior counsel Jim DeLoach and associate David Flautt to the firm.

The composite index declined by nine basis points from April to May, down to 0.88 percent, a historic low for the second consecutive month. The first mortgage default rate also posted a decline of nine basis points from April to May down to 0.74 percent, also a historic low. The second mortgage default rate fell by one basis point for the same period, down to a historic low of 0.42 percent.

About 9.7 million residential properties out of the 50 million homes nationwide with a mortgage (19.4 percent) have less than 20 percent equity, which is commonly referred to as being "under-equitied." About 2.7 percent of homes (1.3 million) have less than 5 percent equity, which is commonly referred to as having "near-negative equity."

The collateral file audit and remediation service is customizable and can be tailored to specific portfolios, investors, and objectives, according to NTC.

Hepp currently collaborates with the University of Southern California's Lusk Center and the REALTOR University Center for Real Estate Studies. She previously served as a senior economist with the California Association of Realtors and as an economist and manager of public policy and homeownership with the National Association of Realtors.

Those with lower credit scores who do get accepted for mortgage loans (and other types of loans) will almost certainly pay higher interest rates than those with higher credit scores; therefore, those with higher credit scores pay less over the life of the loan due to paying less interest.

Freddie Mac has laid off a portion of credit risk on more than $281 billion in unpaid principal balance for single-family mortgages through 13 STACR offerings and seven Agency Credit Insurance Structure (ACIS) transactions. More than one million loans have been represented in those transactions.

On Friday, HUD amended its HECM policy again, this time to include reverse mortgages originated prior to August 4, 2014, giving borrowers expanded options to allow the non-borrowing spouse to remain in the home if the reverse mortgage was originated before that date.