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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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NAR Critical of LLPA Rate Increase

Recent increases in the rates Washington, D.C.-based Fannie Mae requires lenders to charge for some mortgages has caught the ire of the Chicago-based National Association of Realtors (NAR), who claims the new rates unfairly increase the cost of buying a mortgage, even for qualified buyers seeking mortgages they can afford.

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Radian Group Offers Loss Mitigation Training to Customers

With loss mitigation becoming an increasingly more important tool for the mortgage industry, Philadelphia-based Radian Guaranty, the mortgage insurance subsidiary of Radian Group Inc., will begin offering to its customers loss mitigation training techniques and services from CampusMBA, the education division of the Washington, D.

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Ind. Lawmakers Will Consider Foreclosure Options

Indiana lawmakers are considering a variety of options to help homeowners and lenders in the Hoosier state overcome the mortgage crisis, according to a report in The Indianapolis Star. According to the report, Indiana is one of nine states with a higher rate of loans in foreclosure than the national average of 3 percent, and lawmakers are looking for ways to stem that tide, including extending the foreclosure process, financial assistance, and a state-wide moratorium on foreclosures.

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FHFB Chair Rosenfeld Resigns

Federal Housing Finance Board (FHFB) Chairman Ronald Rosenfeld resigned from his post on December 31. The Federal Housing Finance Board was responsible for the supervision of the 12 Federal Home Loan Banks until the enactment of the Housing and Economic Recovery Act of 2008 merged it with the Office of Federal Housing Enterprise Oversight (OFHEO), and the Department of Housing and Urban Development’s (HUD) government-sponsored enterprise (GSE) mission team, to create the Federal Housing Finance Agency (FHFA) in July, 2008.

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Non-Compulsory Earthquake Insurance Could Cripple Market

The lack of mandatory earthquake insurance in California would result in high levels of mortgage defaults that would further cripple the United States housing market if a major earthquake occurred, according to an analysis released by the Chicago-based Impact Forecasting LLC, a division of international reinsurance intermediary and capital advisor Aon Benfield.

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S&P Report: Home Price Declines Worsen

Broad-based declines in the prices of existing single family homes continued across the United States through the month of October, according to data released today by Standard & Poor’s. The S&P/Case-Shiller home price indices show that 14 of the 20 metro areas studied experienced record rates of annual decline, with 14 now reporting declines in excess of 10 percent compared to October 2007.

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S&P Report: Home Price Declines Worsen

Broad-based declines in the prices of existing single family homes continued across the United States through the month of October, according to data released today by Standard & Poor’s. The S&P/Case-Shiller home price indices show that 14 of the 20 metro areas studied experienced record rates of annual decline, with 14 now reporting declines in excess of 10 percent compared to October 2007.

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