Housing data was mixed in June, but all main indicators increased during the first six months of the year compared to the same period last year. This supports Fannie Mae's expectation of a broad-based improvement in the housing market.
Read More »Mortgage Industry Surpasses 24 Million Workout Plans Completed Since 2007
For Q2, the number of workout solutions outpaced completed foreclosures by the count of 411,000 to 89,000, which calculates to an average of 4.6 solutions for every foreclosure sale during the quarter.
Read More »Ask the Economist: Who Are Strategic Defaulters and How do They Affect the 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 Amy Crews Cutts, SVP and Chief Economist with Equifax.
Read More »Ocwen Engages in Community Outreach to Help Distressed Borrowers
The Atlanta-based servicer's outreach, which is scheduled to take place in 10 cities across California, New York, Illinois, Wisconsin, and Florida, is part of Ocwen's continued effort to partner with community leaders and non-profit housing organizations to provide solutions to struggling homeowners.
Read More »Divisiveness of Dodd-Frank is Evident Five Years After Its Passage
The controversial Dodd-Frank Wall Street Reform and Consumer Protection Act just passed its five-year anniversary on July 21, and lawmakers and other stakeholders have never been more divided as to its effectiveness (or lack thereof) as they have been recently, according to CoreLogic's August 2015 MarketPulse released this week.
Read More »Millennial Desire for Homeownership is Strong, But Financial Hurdles Persist
According to Fannie Mae's recent National Housing Survey (NHS) data, millennial renters (ages 25-34) today have as much desire to own a home as the general population of renters.
Read More »Fannie Mae and Freddie Mac are Exceeding Credit Risk Transfer Goals
FHFA said that going forward it will set specific goals in the annual conservatorship scorecard and work closely with staff members at Fannie Mae and Freddie Mac to help the GSEs develop and evaluate their credit risk transfer structures. FHFA is encouraging the GSEs to continue engaging in large volumes of meaningful credit risk transfer.
Read More »Foreclosure Inventory Drops to Lowest Monthly Total in Eight Years
The delinquency rate (percentage of properties 30 days or more overdue but not in foreclosure) dropped by 16 percent year-over-year down to 4.71 percent, nearly reaching its lowest point since the crisis. That share of 4.71 delinquent properties represents about 2.39 million loans nationwide. The number of properties in foreclosure pre-sale inventory dropped by 24 percent year-over-year in July down to 711,000.
Read More »FDIC Suit Claims BNY Mellon Breached Trustee Duties for $2 Billion Worth of RMBS
The lawsuit, filed in the U.S. District Court for the Southern District of New York, claims that BNY Mellon "shirked its duty" as a bond trustee to make sure that the securities were not defective.
Read More »Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall
Total existing-home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly-revised 5.48 million in June.
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