The city's Board of Supervisors unanimously approved a resolution earlier this week that would encourage the lenders who own distressed properties to sell them to nonprofits and community development financial institutions rather than to hedge funds, Wall Street speculators, or private equity firms.

Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Stacey Slaughter, partner with Robins Kaplan.

The STACR offering announced Thursday is the GSE’s second this year and 11th overall. Freddie Mac began the STACR program in the second half of 2013 as part of the Enterprise’s goal of reducing risk to taxpayers by increasing private capital’s role in the mortgage market.

A policy allowing consumers to publicly share their stories when submitting complaints to CFPB was first proposed by the Bureau in July 2014. After months of receiving comments from consumer groups, trade associations, companies, and individuals, CFPB finalized its consumer narrative policy on Thursday.

Bellevue, Washington-based mortgage default and foreclosure-focused law firm RCO Legal, P.S. is continuing its strategic growth and expansion with the announcement that Janaya Carter has been promoted to managing shareholder in the firm.

The Newseum in Washington, D.C., provided the backdrop for the Sixth Annual Five Star Government Forum (FSGF) on Wednesday, as government officials and mortgage industry professionals came together to discuss the future of America's housing industry.

A new Web-based course that will provide city leaders with strategies to successfully address foreclosures in their cities will be offered for free to the general public, according to an announcement from National League of Cities (NLC) and Wells Fargo on Wednesday.

In a white paper released Wednesday titled "The Continued Profitability of Fannie Mae and Freddie Mac is Not Assured," the Office of Inspector General of the Federal Housing Finance Agency (FHFA) warned that the profitability of the two GSEs may not continue due to their having to rely on core earnings for profits in the future.

According to Ocwen, the portfolio consists of approximately 55,000 performing loans owned by Freddie Mac. The transaction is subject to approval by Freddie Mac and its conservator, the Federal Housing Finance Agency (FHFA), as well as other customary conditions. Ocwen reported that it expects the transaction to close by April 30, 2015, and expects the loan servicing to transfer in May 2015.

DhanInfo's latest expansion includes the opening of a new $1 million office designed to better serve its growing worldwide client base and its employees.