Commentary

The current bankruptcy rules don’t help the servicer or the borrower get a good deal on their real estate assets. Ed Delgado, President and CEO of the Five Star Institute explains how a program like CWCOT can help in the sale of these properties.

What constitutes a “same” cause of action, especially when multiple contracts are at play? A recent Illinois Supreme Court ruling in First Midwest Bank v. Cobo examined this term and what it actually meant in foreclosures.

Here is how a divided Congress can come together and solve the current housing market challenges through bipartisan legislation.

The FHA’s recent Annual Report of its MMI Fund highlights a key area that has been saving money for taxpayers. Five Star Institute’s President and CEO, Ed Delgado makes a case for why certain tweaks to the FHA’s CWCOT program would provide a win-win for borrowers and the FHA.

A years-long legal battle between the Bureau and PHH, centering on accusations of illegal kickbacks, recently ended with the Bureau dismissing the case. What does this case signify for RESPA enforcement going forward?

This controversy of who will lead the CFPB in the interim of a new director being confirmed by the Senate will eventually be resolved, but given the novel legal issues it presents and the strong interests on both sides, it could take time to wind through the courts. And the fact that we are faced with this uncertainty has serious consequences, because any actions undertaken by an unauthorized Acting Director could be void.

When it comes to moving REOs back into the marketplace, the Federal Housing Administration's Claims Without Conveyance of Title program is crucial. However, delving into the complexities of the program can be daunting, which is why we turned to two experts in the space, Altisource's SVP of Real Estate Services Min Alexander and Director of Real Estate Auction Services James Harp.

Fannie Mae is making moves again—this time it has completed its second set of traditional Credit Insurance Risk Transfer. Read on to find the amount of coverage the GSE received and the terms of the deal.

While Homeowner Association liens for unpaid assessments typically have priority over second mortgages and other junior liens (because the HOA liens may “relate back to” the HOAs’ previously-recorded declarations), first mortgages receive special treatment in various states, such as Minnesota. Despite that special treatment, HOAs often demand payment of substantial bills by lenders foreclosing first mortgages.

The chain of title is the guy-wire that holds the home finance industry upright. Without some method to determine who owns a given parcel of real estate, it cannot be used as collateral for a loan. In cases where these loans go into default, a clear title is essential for a smooth foreclosure and REO process. Unfortunately, problems arise that cloud the title, increasing loss severity for investors.