HUD estimates that the money they provide in grants, combined with other funds they plan to leverage, will assist more than a million and a half individuals and families with finding housing, making more informed choices with regards to housing, and staying in their current homes.
Read More »Parkside Lending Expands With Three New Hires
San Francisco-based national wholesale and correspondent lender Parkside Lending has added industry veterans to the positions of general counsel, chief compliance officer, and closing manager to its team in order to manage the rapidly growing business.
Read More »Foreclosure Completions Down Two-Thirds From 2010 Peak
Foreclosure inventory, which is the number of homes in some state of foreclosure, totaled 553,000 in February (about 1.4 percent of all residential mortgages nationwide), the lowest total since March 2008 and a year-over-year decline of 27.3 percent from February 2014, when there were 761,000 homes in some state of foreclosure (1.9 percent of all residential mortgages).
Read More »With the Announcement of Fannie Mae’s First Bulk NPL Offering, More Sales Could Be Coming
Fannie Mae just announced last week that it is in the process of marketing its first-ever bulk sale of non-performing loans. Bids are due for this bundle of NPLs, worth about $786 million, on May 6 and the sale is expected to close in mid- to late June – but there could be more similar sales coming later.
Read More »Based on Recent Signs, Analysts Still Hold High Hopes for Housing Recovery in 2015
Economists at both Fannie Mae and Freddie Mac have stuck to their predictions that housing will recover in 2015 despite receiving recent reports of slower-than-expected economic growth in the first quarter, including job gains that fell well short of expectations in March. "We remain comfortable with our call that the Fed funds rate lift-off will occur in September," Fannie Mae chief economist Doug Duncan said last week. "The setback in the hiring picture is in line with consumer sentiment regarding the housing market from the Fannie Mae National Housing Survey."
Read More »Blight Elimination Program Gets Underway in Indiana
The BEP has made about $75 million (approved by the U.S. Department of Treasury) available to the state of Indiana to eliminate blight by reducing foreclosures and stabilizing neighborhoods, and about $1.5 million of that money was allocated to East Chicago.
Read More »Fed Accepting Statements of Interest for Community Advisory Council Membership
The Fed plans to fill the 15 seats on the CAC with a diverse group of experts who will represent consumer and community development organizations and interests, according to the announcement. Those organizations and interests will include affordable housing, community and economic development, small business, and asset and wealth building.
Read More »Lawmakers Ask CFPB to Delay Enforcement of TILA-RESPA
Two Republican lawmakers have written a letter to the Consumer Financial Protection Bureau director asking for the delay of the combined Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) mortgage disclosure forms.
Read More »REO Cash Sales Share Rebounds From Seasonal Decline
After a slight dip in December likely due to seasonality, REO sales once again had a 60 percent cash sales share for January, according to CoreLogic's January 2015 cash sales report released Thursday.
Read More »Lambert Announces Departure from Treasury’s Making Home Affordable Program
Lambert was instrumental in starting Treasury's Making Home Affordable Program (MHA) in 2009, which the government began in response to the devastating financial crisis of 2008 and to help families avoid foreclosure. She has continued to promote the program for the last six years, during which time MHA has helped more than one and a half million families.
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