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Aspen Grove Solutions (AGS), a provider of property centric technology solutions to the financial and mortgage services industry, has announced that the company is adding Brookstone Management, LLC to their list of clients. A national repair contractor headquartered in New ...

The Federal Reserve Bank of Minneapolis announced today that Neel Kashkari has been named the company’s 13th president and chief executive officer, effective January 1, 2016. Current President and CEO Narayana Kocherlakota will end his tenure on December 31, concluding a five -ear run as head of the Federal Reserve Bank of Minneapolis.

The FHFA said that beginning December 1, 2015, local community organizations will be able to review and purchase foreclosed properties owned by Fannie Mae and Freddie Mac in the newly added 18 metro areas before they hit the public market.

The number of completed foreclosures surged from 37,000 in August up to 55,000 in September, an increase of 49.5 percent, largely due to an annual public auctioning of thousands of tax-foreclosed properties in Wayne County, Michigan, where Detroit is the county seat, according to CoreLogic. By comparison, foreclosure completions averaged about 21,000 per month in the pre-recession years from 2000 to 2006.

The research found that 31 percent of borrowers had not talked to their servicer/lender, 28 percent did not believe their servicer could help them, yet 74 percent (nearly three-quarters) said they would talk to a housing counseling agency, yet 38 percent of the homeowners who were surveyed did not know that counseling was available to them.

The GSEs have been under FHFA conservatorship since September 2008, at which time they needed a combined bailout of $187.5 billion from taxpayers in order to stay afloat and "preserve and conserve their assets and property and restore them to a sound financial condition so they can continue to fulfill their statutory mission of promoting liquidity and efficiency in the nation's housing finance markets," according to FHFA's website.

Chronos Solutions, formerly Matt Martin Real Estate Management, a diversified national real estate services firm, recently introduced a new service to help sellers in the disposition of HUD, VA, and non-performing loan (NPL) sales via its affiliate company, RealtyBid.

“As disappointing as last month’s jobs report was, this one more than makes up for it,” said Curt Long, Chief Economist of the National Associations of Federal Credit Unions (NAFCU). “Job gains surged past analysts’ expectations, while the unemployment rate dropped even as 300,000 workers joined the labor force. Meanwhile, year-over-year wage growth hit its highest mark since mid-2009. Barring catastrophe, everything looks set for the Fed to raise rates in December.”

As head of Home Lending Servicing, Hilzendeger will be responsible for leading more than 17,000 of the bank’s team members who service mortgage loans and home equity products for more than 10 million Wells Fargo customers, and mortgage loans for investors totaling more than $1 trillion.

The U.S. House of Representatives voted on Thursday to pass an amendment eliminating the use of guarantee fees on mortgages backed by Fannie Mae and Freddie Mac to fund a controversial $47 billion transportation bill known as H.R. 22, or the Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act