Daily Dose

As a result of the improvements Treasury has made to HAMP over the years, the number of denied HAMP applications has been steadily declining each year since 2012. That year, the number of denied applicants reached 998,000. In 2013, that number decreased by almost 50 percent down to 523,000. In 2014, the number dropped to 334,000, and for the first four months of 2015, the number was 100,000.

The Paymap program falsely promised that consumers would save tens of thousands of dollars in interest from making bi-weekly mortgage payments through an electronic payment system that draws debits from their bank accounts when in fact, borrowers saved little, if any.

The 82-page report, titled "Mortgage Reforms: Actions Needed to Help Assess Effects of New Regulations," was conducted by the GAO at the request of Congress amid concerns that risky mortgage products and poor underwriting standards were contributing factors to the housing crisis of 2008.

Freddie Mac launched Take Root Milwaukee five years ago, at the height of the foreclosure wave, with the idea that government agencies, financial institutions, and the real estate industry could unite to protect residential neighborhoods by forming a single network that residents can contact with one click or phone number.

In this exclusive interview with DS News, Director of the USC Bedrosian Center on Governance and former assistant HUD Secretary Raphael Bostic discusses HUD's new Affirmatively Furthering Fair Housing Rule and what it means for American communities.

Wallison presented a chart that compared recovery from the financial crisis of 2008 with that of previous crises and noted that from 2009 until the passage of Dodd-Frank in July 2010, economic recovery was on the same pace as previous recoveries. He contended that recovery began to slow down when Dodd-Frank was signed into law.

The Office of the Comptroller of the Currency announced the termination of the 2011 foreclosure-related consent order for OneWest Bank, having determined that the bank has satisfied the terms of the consent order.

The Fair Housing rule was intended to ensure that every person in America has the right to fair housing, regardless of their race, color, national origin, religion, sex, disability or familial status, HUD says. The final rule aims to provide all HUD program participants with clear guidelines and data they can use to achieve those goals.

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 Daniel Callahan, a shareholder with Dallas-based firm Kessler Collins.

Single-family rentals comprise 40 percent of the rental market, nearly equal with multi-family's share (42 percent) and more than double the 2-to-4 family share (18 percent), according to CoreLogic.