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Policymakers Ease Mark-to-Market Rules

Last week, the Financial Accounting Standards Board (FASB) approved new, relaxed guidelines for mark-to-market accounting rules – a method of assigning values to financial instruments, such as mortgage-backed securities, based on the current fair market price for similar instruments.

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Global DMS Offers HVCC Compliance

Many lenders who sell their loans to Fannie Mae and Freddie Mac are hesitant to outsource the appraisal process to Appraisal Management Companies (AMCs), especially with the GSEs’ strict new Home Valuation Code of Conduct (HVCC) requirements set to take effect May 1st.

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LoanMarket.NET Launches Marketplace for Whole Mortgage Loan Trading

Irvine, California-based LoanMarket.NET announced on Monday the launch of its online marketplace for buying and selling real estate-secured note investments. According to the company, the new Web site creates a neutral, open marketplace for the purchase and sale of whole mortgage loans that brings efficiency and full pricing transparency to the traditionally opaque secondary market for real estate-secured debt investments.

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FBI Wants Mortgage Records Kept Longer

The U.S. Justice Department and Federal Bureau of Investigation (FBI) are asking Congress to require mortgage companies to retain records for at least 10 years in order to better facilitate fraud prosecutions.

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Gov. Agencies Crack Down on Foreclosure Rescue Scams

The U.S. Department of the Treasury, the U.S. Department of Justice, the Department of Housing and Urban Development (HUD), the Federal Trade Commission (FTC), and the Attorney General of Illinois announced the launch of a new initiative on Monday aimed at foreclosure rescue scams and loan modification fraud.

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LenderLive Launches Gov. Loan Mod Campaign with Top Servicer

Denver, Colorado-based LenderLive Network Inc., a company that provides business process outsourcing and technology to the financial industry, announced on Monday that it has successfully launched its first large-scale Home Affordable Modification Program (HMP) campaign with one of the nation’s top four servicers.

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New Auction Company Opens in Texas

Austin, Texas-based TexTerra Auctions, LLC, has opened its doors for business. The newly created real estate auction company is focused on assisting lending institutions in Texas with offloading commercial and bulk residential REO properties.

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