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Fannie Mae Lays Off Hundreds In D.C.

Fannie Mae has begun laying off hundreds of employees at its Washington, D.C. office to make room for more employees at its Dallas, Texas anti-foreclosure office, according to multiple media reports. Affected employees include those that worked in technology, administration, communications, and the company’s single-family unit, which buys and bundles mortgages for securities.

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Pet Advocacy Group Looks To Expand

Foreclosures are a life-altering event for every member of a family, including the four-legged ones, who many times get left by families that simply can no longer take care of them, or don’t know where to turn for help.

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Criticism of Appraiser Code Mounts

The Federal Housing Finance Agency’s (FHFA) new home valuation code of conduct was created to promote transparency and put distance between lenders and appraisers to encourage more accurate property appraisals, but some question whether it will be effective.

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Fannie Mae Streamlines Expense Processes

Fannie Mae will begin using the HomeTracker Lender Center software to track property preservation efforts conducted by Fannie Mae mortgage servicers. The software, created by Dallas, Texas-based HomeTelos, will allow Fannie Mae to streamline the approval process servicers use to make requests for property preservation expenses by created standardized rules and processes for all user requests.

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Detroit REO Brokers Improve Work With City

REO brokers that work in Detroit are seeing shorter wait periods for city inspections and increased access to records at the Detroit Water Department, according to a release by the Detroit Association of Realtors’ REO Task Force.

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Taza Launches New Division

Earlier this month, the La Jolla, California-based Taza Corporation announced the launch of Tazahomes.com, a new software division focused on the marketing aspects of the REO market. According to a press statement released by the company, Tazahomes.

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Field Asset Services Launches New Site

Austin, Texas-based REO maintenance and repair services company Field Asset Services (FAS) launched its redesigned Web site Thursday. The new site has a new look and added functionality that allows users to log into the company’s FAS 3.

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Majority of Americans Oppose Bailing Out Homeowners

A majority of Americans oppose using federal bailout funds to pay the mortgages of homeowners in default, according a survey released in the inaugural Reecon Advisory Report Tuesday. While 51 percent of Americans surveyed said they opposed the idea, 43 percent are in favor of using the funds to help homeowners.

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