Government-sponsored enterprise Freddie Mac has announced a set of new foreclosure prevention guidelines and revisions in Guide Bulletins 2014-19 and 2014-20.
Read More »DLS Announces Launch of Product Aimed at Assisting New FHA Servicers
Michigan-based default mortgaging services consulting and loss mitigation outsource services provider DLS Servicing Consultants has announced the launch of a new product aimed at new Federal Housing Administration (FHA) servicers.
Read More »Report: Nearly Half of December 2013 Foreclosures Remained In August
Nearly half of the mortgages that were in foreclosure in December 2013 were still in foreclosure as of the end of August, according to the Black Knight Financial Services August Mortgage Monitor released earlier in the week.
Read More »Fannie Mae Announces Modification Interest Rate Hike
Fannie Mae announced earlier this week it will be adjusting the required interest rate for its Standard Modification Program. The new interest rate of 4.5 percent will be effective for all Fannie Mae mortgage loans approved for the Standard Modification Program on or after October 14, 2014.
Read More »HARP Refinancing Activity Continues Decline
In a recent release, the agency reported a combined total of 119,699 refinances were completed at Fannie Mae and Freddie Mac in July, slightly down from the figure reported for June. While low compared to the boom in recent years, refinance volumes over the last few months have shown more life than earlier this year as mortgage interest rates have hovered in the low 4.0 percent range.
Read More »CFPB Fines Flagstar $37.5 Million for Blocking Foreclosure Prevention
The Consumer Financial Protection Bureau (CFPB) ordered Michigan-based bank Flagstar to pay $37.5 million in penalties for violating the new mortgage servicing rules by failing to devote sufficient resources to its loss mitigation programs, CFPB announced on Monday.
Read More »Report: GSEs Prevented 80,000 Foreclosures in Q2
Fannie Mae and Freddie Mac prevented nearly 80,000 foreclosures nationwide in the second quarter, raising the total number of foreclosures prevented since the start of the conservatorship in September 2008 to 3.3 million, the Federal Housing Finance Agency (FHFA) indicated in its report on foreclosure prevention for Q2 2014 released on September 24.
Read More »FHFA to Stage HARP Outreach Meeting in Detroit
In an effort to sign more eligible homeowners up for the Home Affordable Refinance Program (HARP), the Federal Housing Finance Agency (FHFA) is holding its third HARP outreach event on October 2 in Detroit.
Read More »Servicers Need to be ‘Creative’ With Loan Modification
A panel of experts at the Servicing Lab at the Five Star Conference on Tuesday agreed that in order for loss mitigation to be effective in 2014 and heading into the future, servicers must find new and inventive ways to execute.
Read More »Study: Foreclosure Prevention Counselors Saving Homeowners Millions
Foreclosure prevention counselors have saved homeowners millions of dollars annually, according to a recent study by the Urban Institute for NeighborWorks America.
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