Big Numbers Still Don’t Sway DeMarco Towards Principal Reduction
While arguments continue to be made that Fannie Mae and Freddie Mac should apply principal reductions to keep underwater borrowers from going into foreclosure, Edward DeMarco, FHFA acting director,...
View ArticleSIGTARP: Hardest Hit Spent 3% of Budget, Program Lacks Participants
As of December 31, 2011, the Hardest Hit Fund (HHF), which is meant to fund innovative measures to help families through the housing crises in hardest hit states, has spent just 3 percent of its budget...
View ArticleCuomo Urges Greater Flexibility on Payment Plans for Sandy Victims
Unless the GSEs change their restrictive guidelines, Superstorm Sandy victims could face a hefty balloon payment or a spike in their monthly mortgage payments, according to a release from Governor...
View ArticleGSEs Announce Relief to Borrowers Impacted by Oklahoma Tornado
Fannie Mae and Freddie Mac reminded servicers of mortgage relief options available to homeowners whose residences were affected by the tornado that ravaged areas in Oklahoma. The post GSEs Announce...
View ArticleCFPB Proposes Revisions to Mortgage Rules
The Consumer Financial Protection Bureau (CFPB) announced proposed revisions to its ability-to-repay rule, mortgage servicing rules, and rules regarding consumer protections. One of the clarifications...
View ArticleGSEs Update Servicing Guidelines to Prepare for CFPB Rules
As the industry prepares to comply with the January implementation of new rules from the Consumer Financial Protection Bureau (CFPB), Fannie Mae and Freddie Mac updated their servicing guides to bring...
View ArticleFHA Makes Concessions for Those Impacted by Shutdown
The Federal Housing Administration (FHA) called on all approved mortgagees and lenders to be sensitive to the financial hardships some borrowers are facing as a result of the federal government...
View ArticleNorth Carolina Bill Would Permit Homeowners to Exclude Forgiven Mortgage Debt...
A bill approved by a committee in the North Carolina House of Representatives would allow distressed homeowners to omit forgiven principal mortgage loan debt when reporting tax income at the end of the...
View ArticleOne State Takes Mortgage Relief a Step Further
One of the states hit hardest by the foreclosure crisis is providing some relief to struggling homeowners. The post One State Takes Mortgage Relief a Step Further appeared first on DSNews.
View ArticleBorrowers Look to Borrow More Time from GSEs
More homeowners are working with the GSEs to keep their homes, but what’s driving the sudden increase in foreclosure prevention actions? The post Borrowers Look to Borrow More Time from GSEs appeared...
View ArticleNorth Carolina Bill Would Permit Homeowners to Exclude Forgiven Mortgage Debt...
A bill approved by a committee in the North Carolina House of Representatives would allow distressed homeowners to omit forgiven principal mortgage loan debt when reporting tax income at the end of the...
View ArticleOne State Takes Mortgage Relief a Step Further
One of the states hit hardest by the foreclosure crisis is providing some relief to struggling homeowners. The post One State Takes Mortgage Relief a Step Further appeared first on DSNews.
View ArticlePreparing for the End of Forbearance
Editor's note: This piece originally appeared in the August 2020 edition of DS News, now available. It’s not too late for mortgage servicers to prepare for the next pandemic-driven event—a likely rise...
View ArticleHow Many Mortgages Are Now in Forbearance?
The ongoing COVID-19 pandemic and expiration of expanded unemployment benefits continue to represent significant uncertainty for the weeks ahead, according to researchers. The post How Many Mortgages...
View ArticleA Closer Look at Latest Forbearance Report
According to recent findings posted from Black Knight’s McDash Flash Forbearance Tracker, the number of mortgages in active forbearance stayed steady this past week, neither increasing or decreasing in...
View ArticleCould Home Price Surge Lead to Another Crash?
Even in the face of a pandemic, elevated unemployment, and a general nationwide recession, home prices have surged, researchers recently reported. “Prices are defying logic, expectations, and even...
View ArticleForbearance Survey: Certain Borrowers ‘Disproportionately Impacted’
Fannie Mae and Freddie Mac loans in forbearance dropped while private loans and those owned by Ginnie Mae experienced an increase, according to the Mortgage Bankers Association's (MBA) latest...
View ArticleNumber of Active Forbearances Experiences a Spike
According to the daily loan-level data on the Black Knight blog, the numbers of mortgages in active forbearance increased for the first time in six weeks. Those totals increased by 21,000...
View ArticleHow the CFPB is Helping Homeowners Struggling with Payments
The pandemic, along with the economic downturn it has caused, leaves homeowners across the country struggling to meet their mortgage payments. This has put more pressure on the Consumer Financial...
View ArticleA Week of ‘Strong Forbearance Improvement’
After declining by 5% last week, the number of mortgage loans actively in forbearance dropped again this past week, according to Black Knight, which calls the week of November 3-10 one of "strong...
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