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Events

A Home for a Hero

In appreciation of a U.S. veteran, in conjunction with the Five Star Institute’s Keys for Life program, Operation Homefront and JPMorgan Chase presented the keys to a mortgage-free home Saturday during the National Fantasy Football Convention in Dallas.

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Jill Haro to be VP of Corporate Administration at LRES

LRES recently named Jill Haro as VP of Corporate Administration. In this role, Haro will oversee compliance and corporate-wide strategic projects. Haro has more than 15 years of experience working within the mortgage services industry in operations, client relations, and corporate project management.

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5 Cities with Great Rental Investment Opportunities

It seems with all the talk about how millennials are shaping the housing market, there is little talk about how millennials are shaping the market for rental investment properties. And with a national average of two years to break even on your first home purchase as opposed to renting, coupled with low inventory across the country and rising home prices throughout, many millennials are renting for longer. These five cities have the longest break even horizon in the country.

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The Week Ahead: The State of Home Prices

On Tuesday, the S&P CoreLogic Case-Shiller Home Price Indices for April will be released, showing the state of prices in the housing market on a national level, a 20-city composite, and a 10-city composite. With inventory continuing to dwindle, will home prices continue on their current upward trend? Time will tell...

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Fannie Mae Nets Nearly $3 Billion in Reperforming Loan Sale

Fannie Mae announced on Tuesday that they have sold 13,500 loans with a cumulative unpaid principle balance of $2.99 billion in their third reperforming loan sale. Loans were divided into three pools, and sold to a single bidder: DLJ Mortgage Capital, Inc. Fannie Mae expects to close on the bid of this sale July 21.

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Patenaude Has Nomination Hearing, Rumors of Otting’s Nomination Confirmed

Monday Pamela Patenaude appeared before the Senate Committee on Banking, Housing, and Urban Affairs for her nomination hearing for Deputy Secretary of the Department of Housing and Urban Development. Patenaude believes her history as the Assistant Deputy will set her up well for this position, if confirmed. The rumors of the intent to nominate Joseph Otting for the Comptroller of the Currency were also confirmed recently in a statement from President Trump.

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GSEs: Where Should the Money Go?

For four months, the Department of the Treasury, GSEs, and Federal Housing Finance Agency have been in disagreement with Fannie and Freddie investors on where profits should be directed. Though the D.C. Circuit affirmed a lower court’s ruling that actions taken under the FHFA’s conservatorship of the GSEs cannot be challenged in court, the shareholders are now taking matters to the full D.C. Circuit for a rehearing. The FHFA and Treasury are now urging the D.C. Circuit not to modify its original ruling.

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CFPB Gets a Win in Ocwen Case

Ocwen Financial Corporation sued the Consumer Financial Protection Bureau in late April claiming Ocwen had failed borrowers in every stage of the mortgage servicing process. Though the two went back and forth about getting the ruling on the CFPB’s constitutionality expedited, ultimately the request was denied. Ocwen's bid to test the constitutionality of the CFPB has now been delayed.

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