H.R. 1266, known as the Financial Product Safety Commission Act of 2015 and sponsored by Randy Neugebauer (R-Texas), would remove the CFPB from the Federal Reserve System and re-establish it as a stand-alone agency governed by a five-member, bipartisan commission. This bill passed the Committee by the vote of 35-24.
Read More »Elizabeth Warren Leads Protest of Agency NPL Practices
Warren and Capuano are trying to prevent the delinquent mortgage loans from being acquired by investors who are quick to foreclose on them. The lawmakers would rather see the loans acquired by non-profits who would be more likely to engage in the loss mitigation process with borrowers and prevent foreclosure.
Read More »CFPB Will Take a ‘Diagnostic’ Approach to Those Trying to Comply With TRID
Rep. Brad Sherman (D-California) questioned Cordray on the CFPB's much anticipated TILA-RESPA Integrated Disclosure (TRID) rule, which is scheduled to go into effect on Saturday, October 3, and has left those in the mortgage industry scrambling to be compliant in time with that date despite a two-month postponement from the rule's original effective date of August 1.
Read More »Continued Cash Sales Decline Speaks to Stabilization of Housing Market
Though more than a quarter of REO sales were cash transactions in June, REO sales made up only about 6 percent of total home sales during the month. During the peak month of January 2011 for cash sales, REO properties made up about 23.8 percent of all home sales.
Read More »Policymakers Should Consider SFR as Part of an Affordable Housing Strategy
In a report titled "Single-Family Rentals: A New Approach to Affordable Housing" by Center Creek Capital Founder Dan Magder and Urban Institute Director of Housing Finance Policy Laurie Goodman released Monday, the authors say SFR should be considered by policymakers as an integral part an affordable housing strategy because of volume, location, neighborhood impact, and affordability.
Read More »Auction.com Hires Technology Finance Veteran as New CFO
Leading online real estate market place Auction.com has announced the hiring of Aman Kothari, a veteran of technology finance, as the company's new chief financial officer.
Read More »Fannie Mae’s and Freddie Mac’s Increased Loss Mitigation Efforts Pay Dividends
REO inventory for Fannie Mae and Freddie Mae dropped by 14 percent during Q2, down to 86,515 for the two GSEs combined, as property dispositions continued to outpace property acquisitions. It was the first time the REO inventory for the GSEs has been below 100,000 since 2009.
Read More »FORCE Members Convene For Rally at Five Star Conference
Members of the Five Star Institute's Federation of Certified REO Experts (FORCE) gathered from all over the country last week for the FORCE rally at the 2015 Five Star Conference and Expo in Dallas for a day of exclusive academics and networking opportunities.
Read More »Will Rep. Hensarling Seek to Become the Next Speaker of the House?
As Chairman of the House Financial Services Committee, Hensarling has been a major figure in housing finance reform for almost three years. He has been an outspoken opponent of the Dodd-Frank Wall Street Reform Act, having recently chaired a series of three hearings in the Committee on the impact of the controversial law five years since it was enacted.
Read More »WALZ Compliance Solutions to Host Webinar on Wednesday, September 30
On Wednesday, September 30, from 2 to 3 p.m. Eastern, WALZ Compliance Solutions will host a webinar titled "Preventing Risk When Notifying Borrowers: Pennsylvania Act 6 and Act 91 Notices."
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