Freddie Mac has laid off a portion of credit risk on more than $281 billion in unpaid principal balance for single-family mortgages through 13 STACR offerings and seven Agency Credit Insurance Structure (ACIS) transactions. More than one million loans have been represented in those transactions.
Read More »HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure
On Friday, HUD amended its HECM policy again, this time to include reverse mortgages originated prior to August 4, 2014, giving borrowers expanded options to allow the non-borrowing spouse to remain in the home if the reverse mortgage was originated before that date.
Read More »HUD Secretary Castro Says There Is Some ‘Agreement’ Between Parties on Housing Reform
Royce then asked Castro about a reduction in FHA market share for large banks, which he said has been recently cut from 61 percent to 33 percent, and that non-bank financial institutions how have 51 percent of the market share compared to 24 percent several years ago.
Read More »Freddie Mac’s STACR Program Receives Prestigious RMBS Award
The STACR offering in late May priced at $425.6 million was Freddie Mac's fourth this year and 13th overall. Freddie Mac has laid off a substantial portion of credit risk for more than $280 billion in unpaid balances on single-family mortgages through STACR transactions.
Read More »Presidential Candidates Urged to Address Housing Crisis on Campaign Trail
Candidates talking about the housing crisis on the presidential campaign trail, the authors said, is an excellent way to raise national public awareness and is a step toward finding solutions to the problems surrounding the housing industry, which include rising rents and diminished access to homeownership.
Read More »House Committee on Appropriations Aims For More Oversight, Transparency for CFPB
For the CFPB, the bill includes a provision that will bring the agency under the annual Congressional appropriations process. Currently, the CFPB is funded directly by the Federal Reserve. According to the Appropriations Committee, the change will allow for increased accountability and transparency of the Bureau's activities as well as the use of taxpayer money.
Read More »REO Share’s Continued Decline Indicates a ‘Healing’ Market
As has historically been the case, REO sales had the largest cash sales share in March, followed by resales (34.5 percent), short sales (31.6 percent), and new home sales (14.9 percent). All those numbers represented declines from February, according to CoreLogic.
Read More »Fed Reports Household Wealth Rose to $85 Trillion in Q1
Americans appear to be keeping borrowing to a minimum and evading debt as the report noted that household borrowing was at its lowest rate since the end of 2013. Household debt increased at an annual rate of 2.2 percent in the first quarter of 2015 totaling $13.6 trillion.
Read More »Ocwen To Use Money From MSR Sales to Pay Part of Senior Secured Term Loan
One month later, Ocwen announced that they were selling another MSR portfolio with $25 billion in UPB to Nationstar Mortgage. Together, the two MSR deals between Ocwen and Nationstar included about 223,000 residential mortgage loans with $34.8 billion in UPB.
Read More »FHFA To Host Sixth HARP Outreach Event in Phoenix June 12
The FHFA stated in its first quarter refinance report that more than 31,000 borrowers nationwide refinanced through HARP in Q1, bringing the total number of borrowers who have refinanced through HARP up to more than 3.3 million since it was introduced in 2009 as part of the Making Home Affordable program.
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