News

Freddie Mac announced its intention on Monday to sell its first actual loss offering of loans with high loan-to-value (LTV) ratios, further expanding the GSE's Structured Agency Credit Risk (STACR) debt notes program.

The Community Development Financial Institutions (CDFI) Fund of the U.S. Department of Treasury announced Friday the awarding of $202 million in grants and loans to 195 CDFIs through the CDFI Program and the Native American CDFI Assistance (NACA) Program, capping the 20th anniversary of CDFI funding.

Daniel Carroll, an economist with the Cleveland Fed, and Eric Young, a professor at the University of Virginia, contend in their commentary titled "Zero Growth and Long Run Inequality" that "to the extent that different rates of trend growth are associated with changes in wealth inequality, lower growth tends to yield less inequality rather than more."

The Sixth Circuit Court on Friday denied two petitions to rehear the case, saying that "the original panel has reviewed the petitions for rehearing and concludes that the issues raised in the petitions were fully considered upon the original submission and decision of the cases."

During the housing crash, big investors stocked up on thousands of foreclosed properties for single-family rentals with intentions of selling them when home prices recovered. But they didn’t.

The problem is not that investors are not willing to take the risk; Fannie Mae and Freddie Mac have transferred risk on $667 billion in unpaid principal balance (UPB) through a combined total of 22 Connecticut Avenue Series (CAS) and Structured Agency Credit Risk (STACR) transactions since 2013.

“While we grieve the loss of Ebby, our legendary founder and my friend and mentor for over 50 years, we celebrate a long life well lived,” Burleson said. “Each of us who had the good fortune of knowing Ebby has been touched by the grace, fortitude and compassion with which she lived her life. Ebby had a very simple saying that she lived by, ‘Do something for someone every day.’ That small bit of wisdom served Ebby very, very well.”

The newest innovation in process serving from JJL is TrueServe ESQ, an app that allows the user to pull up an entire array of evidence substantiating JJL's service for a particular case from smartphone or tablet anytime a judge or opposing counsel questions service of process.

Millennials or generation Y (age 35 and under), which is the demographic many analysts have said will be critical for the future health of the housing market, comprised 32 percent of all buyers – the largest share of homebuyers for any age group.

Many Americans are still having difficulty obtaining mortgage loans due to the adverse impact of the crisis on their credit scores even seven years after the crisis. In mid-July, Brown proposed a bill known as the Consumer Reporting Fairness Act, which would require banks or creditors to notify credit reporting agencies when a bankruptcy extinguishes a consumer's debt.