News

The single-family REO-to-rental market is being consolidated seven years after the crash as some investors are still looking to profit, while others are taking advantage of economies of scale. ProTeck concluded there will always be a need for rental properties, and there will always be a need for investors to purchase those properties.

Foreclosure activity declined substantially year-over-year in Q1. The number of properties in the process of foreclosure as of the end of the quarter dropped down to 299,424, a decline of 30.8 percent from the same quarter a year earlier. The nearly 300,000 loans in the process of foreclosure during Q1 comprised about 1.3 percent of the loans in the portfolio.

In April, the Five Star Institute (FSI) and Black Knight Financial Services (BKFS) released a report titled "Analysis and Study of CFPB Consumer Complaint Data Related to Mortgage Servicing Activities,” that addressed the concern that the complaints do not provide a full picture of the mortgage servicing industry.

The Senators cited a recent report by the National Fair Housing Alliance (NFHA) which alleged that REO properties in minority-dominated neighborhoods were more than twice as likely to have deficiencies such significant amounts of trash and debris, and unsecured, broken, or damaged doors than REO properties in predominantly white neighborhoods.

The U.S. Supreme Court ruled on Thursday by a 5-4 vote in the case of Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. that disparate impact claims can legally be brought about under the Fair Housing Act of 1968.

Even though the Fed's approach to stress testing has evolved in the last six years, some elements of the original SCAP remain in the stress tests conducted by the Fed today, such as supervisory stress scenarios applicable to all firms; defined consequences for firms that are deemed to be insufficiently capitalized; and public disclosure of the stress test results, according to Fischer.

Freddie Mac's report of more stabilization nationwide in the housing market was right in line with the GSE's economic outlook for June 2015, released just one day earlier, which showed that Americans may be ready to take on more mortgage debt due to low debt servicing costs and improved household balance sheets.

NoteSchool, an online provider of high level training on real estate note investment, presented a webinar on Thursday, June 25, to show participants a simple form of real estate note investing in which investors can access good properties by buying notes directly from hedge funds.

The Consumer Financial Protection Bureau (CFPB) has announced a proposed amendment to the Know Before You Owe mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which would move the effective date of the rule to Saturday, October 3, 2015. According to CFPB, the Bureau is issuing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015.

It didn’t quite have the drama of the old prison movies with the governor calling at the very last minute to grant a stay of execution, but the CFPB’s proposal to push back the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule until October 1 was a welcome reprieve, nonetheless.