On the other hand, the median number of days on the market, or the inventory, increased to 69 days, down 7 percent year-over-year, but up 5 percent month-over-month.
Read More »NAFCU Exhorts NCUA to Use Recent Review as the Basis for Regulatory Relief
In a letter to the National Credit Union Administration (NCUA), National Association of Federal Credit Unions (NAFCU) Director of Regulatory Affairs Alicia Nealon encouraged the NCUA to use its 2015 Regulatory Review as an opportunity to provide credit unions with regulatory relief.
Read More »Y2K and CU… Is the Sky Falling?
The recent rollout of Fannie Mae's Collateral Underwriter (CU) parallels the Y2K experience of 15 years ago. Leading up to its implementation, some appraisers panicked and unfounded fears ran rampant.
Read More »Freddie Mac’s Net Income Skyrockets; GSE to Pay Nearly $4 Billion to Treasury
Also for Q2, Freddie Mac reported $3.9 billion in comprehensive income, a five-fold increase from Q1's total of $746 million. With the inclusion of September 2015's Dividend Obligation of $3.9 billion, Freddie Mac will have returned $96.5 billion to taxpayers. Dividend payments do not include the $71.3 billion bailout Freddie Mac received from Treasury in 2008.
Read More »Fannie Mae’s Research Shows Perceived Negative Equity is Hurting the Housing Market
The National Housing Survey from Fannie Mae contains data that suggests that homeowners who are underestimating how much equity they have in their homes may also be underestimating in other areas, such as how large of a downpayment they could make with that equity; their chances of qualifying for a mortgage, assuming they need a large downpayment; and their opportunities for selling their house and buying another one.
Read More »Mortgage Debt is the Largest Liability for Most U.S. Households
Low-income households were found to be implicated the most by debt. Their debt equaled to just one-fifth of their income in 2007, but that proportion increased to half by 2013.
Read More »Third Circuit Court Rules in MERS’ Favor in Pennsylvania County Recording Case
The U.S. Court of Appeals for the Third Circuit on Monday ruled in the favor of MERSCORP Holdings that the company was not duty-bound by the Pennsylvania recording statute to record all land conveyances, according to an announcement from MERS.
Read More »Industry Analyst Defends Massive Pay Hike for Fannie Mae and Freddie Mac CEOs
The cap eliminated by Watt slightly more than a month ago was put in place three years ago by then-acting FHFA director Ed DeMarco as a compromise between satisfying the demand for a reduction in those executive salaries while the GSEs remained under conservatorship of the FHFA and maintaining adequate pay for line staff, according to Rood.
Read More »Goldman Sachs Agrees to $270 Million RMBS Settlement with Pension Funds
In August 2014, Goldman agreed to pay $3.15 billion to settle a lawsuit filed by the Federal Housing Finance Agency (FHFA) alleging that Goldman sold toxic RMBS to Fannie Mae and Freddie Mac, for which FHFA is the conservator.
Read More »Brady & Kosofsky Receives Certifications for Two Compliance Audits
Matthews, North Carolina-based full service real estate title, REO, loss mitigation and closing law firm Brady & Kosofsky PA has announced it received two certifications as a result of recent service auditor's reviews, the Service Organization Controls (SOC) 2 Type II and the American Land Title Association (ALTA) Best Practices.
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