Industry News


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Former Freddie Mac Exec Criticizes Secondary Mortgage Market Review
Thu, 01 Oct 2020 21:36:51 +0000

In an op-ed piece, Fannie Mae's former CEO called the Financial Stability Oversight Council’s review of the secondary mortgage market politically “compromised.” Click through the read what he thinks they got right and what's still lacking.

The post Former Freddie Mac Exec Criticizes Secondary Mortgage Market Review appeared first on DSNews.



Ohio Courts Add Program to Expedite Settlement Process
Thu, 01 Oct 2020 21:03:32 +0000

The United States Bankruptcy Court for the Southern District of Ohio recently announced a Mortgage Modification Mediation Program (MMM Program) to facilitate negotiations and expedite the settlement process between debtors and creditors within the bankruptcy proceedings. “The MMM Program shall be available for all open and active bankruptcy cases currently pending in the Southern District of ...

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FHFA Addresses Language Barriers
Thu, 01 Oct 2020 16:32:19 +0000

The FHFA, which oversees Fannie Mae and Freddie Mac, recently announced new resources for Americans who need assistance with mortgage loans but who possess limited English-language proficiency. That could be causing homeowners extra hardships during an already trying time, the FHFA recognized. "Over the past decade in the United States, the percentage of Hispanic/Latino and ...

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National Flood Insurance Program Extended, But Problems Remain
Thu, 01 Oct 2020 15:21:37 +0000

Members of the housing industry thanked lawmakers for the extension but also urged them "to make long-term reform a priority moving forward."

The post National Flood Insurance Program Extended, But Problems Remain appeared first on DSNews.



California Law Determines Who Has ‘First Dibs’ on Foreclosures
Wed, 30 Sep 2020 20:42:40 +0000

A new law in California will restrict anyone selling foreclosed homes from bundling them at auction for sale to a single buyer. In addition, the law paves the way for tenants, families, local governments, affordable housing nonprofits, and community land trusts to beat the best auction bid to purchase the foreclosed land. Under the new ...

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Commentary: Making it as a Female Mortgage Servicer
Wed, 30 Sep 2020 19:56:19 +0000

Meg Whitman, the former CEO of eBay and Hewlett Packard, once said that “passion is the fuel behind a successful career,” and I’ve certainly found that to be true. My earlier career objectives were not even remotely close to mortgage, let alone servicing technology. Yet this is where my passion led me, and it’s fueled a tremendously fulfilling career.   By staying committed to my ...

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States That Stand to Lead Home-Equity Origination
Wed, 30 Sep 2020 19:34:41 +0000

Due to economic impact of COVID-19, more Americans are taking out home-equity and other types of loans, according to a new study by WalletHub. "Americans who are having trouble with their finances during the COVID-19 pandemic are searching for all sorts of options to relieve the pressure, from home equity loans to payday loans," according to ...

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Areas at Highest Risk of a Foreclosure Surge
Wed, 30 Sep 2020 18:20:59 +0000

Americans could face as many as 1.4 million foreclosures if homeowners remain unable to make their mortgage payments. That is according to a recent report from Realtor.com. As was reported earlier this week, the number of FHA loans in forbearance remains higher than the share for portfolio loans and private-label securities (and, based on said ...

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How Mortgage Delinquencies Could Impact Property Taxes
Wed, 30 Sep 2020 16:15:03 +0000

An atypically high number of mortgage delinquencies and forbearance programs should not significantly affect property tax payments, reported Fitch Ratings, provider of credit ratings, commentary and research, with the caveat that there is an increased possibility of timing delays. The report from Fitch cites the 2008 recession, noting that during that period of economic crisis, ...

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COVID-19 Worsening Impact of Wildfires
Wed, 30 Sep 2020 10:00:34 +0000

More than 2.5 million acres of California have burned this year, surpassing the state’s previous wildfire seasons for total acreage burned, according to a new data report from CoreLogic, which added that latest Climate Prediction Center forecast extending through November indicates drought conditions will likely persist across the state. CoreLogic observed that the August Complex ...

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