The Federal Financial Institutions Examination Council (FFIEC), made up of the agencies that supervise banks, told servicers last week that the focus of their loss mitigation efforts should first and foremost be recovery for investors and owners of the loans they service.
Read More »Glimmer of Hope in Realtors’ Report on Rising Home Sales, Prices
Home sales rose in 39 states last quarter and median prices rose 4 percent, offering hope for the residential market's immediate future, according to an industry report released Wednesday.
Read More »Report: California Foreclosure Prevention Act Fails To Slow Filings
Despite state lawmakers's efforts to curtail home losses, a record number of California foreclosures are now scheduled for sale.
Read More »Fitch Assigns Residential Credit Solutions Primary Servicer Rating
Fitch Ratings has assigned Residential Credit Solutions, Inc. (RCS) a U.S. residential primary servicer rating for subprime product of â¬ËRPS3-â¬Ë.
Read More »Illinois State Mortgage Program Loosens Income Eligibility
A mortgage program intended to help first-time homebuyers and prevent foreclosures in Illinois is changing its guidelines to include more borrowers, according to reports.
Read More »New Foreclosure Numbers Eclipse Recent Optimism
RealtyTrac released its July Foreclosure Market Report Thursday, and the findings are a stark contrast to recent news of healthier markets and price bottoms.
Read More »Report: U.S. Home Prices Climb 1.2% In June
Home prices continue to edge upward, kindling the small flicker of hope that perhaps we've reached a turning point in the housing crisis.
Read More »What’s Your Senator’s Mortgage Terms?
The Senate Ethics Committee introduced a bill last week that would require members of Congress to disclose their personal mortgage information to the public.
Read More »In the Big Apple, Big “Shadow Inventories” Loom
Frank Sinatra said if you can make it there, you can make it anywhere. But if you're a condo developer, you may as well just go somewhere else.
Read More »White House Delivers Proposed Derivatives Regulation to Congress
After months of discussion, the Obama administration today delivered a proposal to Capitol Hill that would slap unprecedented controls on the trading of over-the-counter derivatives, including mortgage-related credit default swaps, and urged its passage by year's end.
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