The latest note offering in the CAS series (Series 2015-C02) is scheduled to settle on May 27 and is consistent with prior transactions. This transaction includes reference loans with original LTVs up to 97 percent, according to Fannie Mae.
Read More »Top Mortgage Banking Execs Convene for Inaugural Five Star Alternative Disposition Forum
Topics of discussions included whether short sales are still relevant, whether or not to sell occupied properties, claims without certificate of title, resolving the "hold bucket," determining the right disposition strategy for the property, the impact of prolonged sales cycles on the community, what to evaluate when considering a property repair, and what can be done to expedite the foreclosure process on vacant and abandoned properties.
Read More »Judge Dismisses RMBS Complaints Against Bank of America, U.S. Bancorp
Likewise, Forrest ruled that investors based in Ireland and the Cayman Islands lacked standing to sue the two banks. All of the plaintiffs were given a chance to amend their complaints.
Read More »White Paper Authors Warn of the Cost of Reprivatizing GSEs
Currently their line of credit with Treasury would provide about 5 percent capitalization and the current guarantee fee of 63 basis points would provide about 3 percent; they would need to increase their G-fees by about 27 basis points to raise the additional 2 percent capital.
Read More »Rising Rents Not Motivating Consumers to Buy Homes, Research Shows
Only six percent of renters who have lived in their home longer than two years have experienced a decrease in their rent amount, while 38 percent of renters experienced an increase in their rent amount in the last two years.
Read More »New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures
If a property is determined to be vacant and abandoned, the bank or mortgage company will change the lock, replace or board up windows, remove safety hazards, and make sure it complies with the New York maintenance code from that point forward.
Read More »Bank of America Victorious in Discriminatory Lending Lawsuit
Los Angeles sued Bank of America, one of the nation's largest lenders and servicers of residential mortgages, in December 2013. The lawsuit accused the bank of predatory lending in the run-up to the 2008 financial crisis, saying the terms of mortgage loans offered to minorities were less favorable than those offered to Whites.
Read More »Former Fed Chair Says Restricting Central Bank’s Lending Power is a ‘Mistake’
Two additional requirements imposed by the Bailout Prevention Act on the Fed's broad-based lending programs are, according to Bernanke: first, requiring a firm's solvency to be certified by the Fed and the supervisors of the firm before receiving any loans; and second, requiring emergency loan interest rates to be at least 5 percentage points higher than the Treasury Department's rate.
Read More »Freddie Mac Expert Discusses Options for Struggling Borrowers
Today, Freddie Mac receives about one tenth of the amount of calls it was receiving during the immediate aftermath of the housing crash (about 40,000 per month, or 1,300 per day), but many homeowners facing financial setbacks are still calling Freddie Mac hoping the GSE will have a solution for them, whether it allows them to keep their home or is of the non-home retention variety.
Read More »Real Estate Investors Expanding Property Searches, Broadening Strategies
Visio found that 63 percent more investors are considering purchasing properties over $200,000, while sub-$40,000 deal interest has decreased, compared with last year’s report. Investors are also seeking to enhance their investment return strategy by fixing and flipping homes and building their rental portfolios.
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