DSNews By: Xhevrije West June 19, 2015 A proposal to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule was announced on Wednesday by the Consumer Financial Protection Bureau (CFPB). The proposal is requesting that the TRID rule be postponed until October 1, 2015 due to an administrative error. The TRID rule was originally set to go into effect […]
HUD Awards New Mortgagee Compliance Manager Contract for $42 Million
DSNews By: Brian Honea June 17, 2015 Bethsesda, Maryland-based IT and logistical support provider Information Systems & Network (ISN) Corporation has been awarded the contract to serve as Mortgagee Compliance Manager (MCM) for the U.S. Department of Housing and Urban Development (HUD). The MCM contract was awarded to ISN for the amount of $42,048,600. […]
Mortgage Default Indices Continue Falling to Historic Lows
DSNews By: Brian Honea June 17, 2015 The national composite default index reported a historic low for the second month in a row in May, one of four out of five national indices to report historic lows for the month, according to S&P Dow Jones Indices and S&P/Experian Consumer Credit Default Indices for May 2015 released Tuesday. […]
Freddie Mac Lists Steps To Help Distressed Borrowers Avoid Foreclosure Relief Scams
DSNews By: Brian Honea June 2015 Freddie Mac issued a list of “red flags” in a blog entry Monday for distressed borrowers seeking help with their mortgage to watch out for in order to avoid fraud. Citing a Detroit Free Press story from April about Anthony Carta, who was sentenced to 30 to 99 […]
Presidential Candidates Urged to Address Housing Crisis on Campaign Trail
DSNews By: Brian Honea June 15, 2015 A former U.S. Senator and a former U.S. Department of Housing and Urban Development Secretary combined to urge 2016 presidential candidates to address the issues of a lingering American housing crisis. In a piece published as a Fox News Opinion earlier this week, Scott Brown, a […]
FHA Revises Reverse Mortgage Program to Protect Non-Borrowing Spouses From Foreclosure
DSNews By: Brian Honea June 15, 2015 The Federal Housing Administration (FHA) on Friday announced revisions to its Home Equity Conversion Mortgage (HECM) program that will allow FHA-approved lenders to offer more options to eligible surviving non-borrowing spouses. The revisions announced Friday allow for the deferral of due and payable status for reverse mortgages, hence […]
Freddie Mac Lays Out Importance of a Consumer’s Credit Score in Homebuying
DSNews By: Brian Honea Since a borrower’s credit score influences a lender’s decision on whether or not to give that borrower a single family mortgage loan, the importance of having a good credit score when buying a home cannot be underestimated, according to Freddie Mac’s blog on Monday. According to Freddie Mac, the best […]
HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure
DSNews By: Brian Honea Those affected by the U.S. Department of Housing and Urban Development (HUD)’s decision on Friday, June 12, to allow servicers to allow surviving non-borrowing spouses in HUD’s reverse mortgage program to stay in their home if the mortgage was originated prior to August 4, 2014, widely applauded the Department’s decision […]
Freddie Mac Auctions Off First-Ever Extended Timeline Pool Offering of NPLs
DSNews By: Brian Honea Freddie Mac announced Thursday that it sold 157 deeply delinquent non-performing loans (NPLs) totaling about $31 million in aggregate unpaid principal balance (UPB) in its first-ever Extended Timeline Pool Offering (EXPO) sale on June 3. EXPOs differ from Freddie Mac’s Standard Pool Offerings in that the loans include smaller pool […]
Single-Family Rental Market Experiencing Shift Toward South and Midwest
DSNews By: Xhevrije West CoStar, a research organization, reported that single-family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Institutional investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations. Morgan Stanley, an investment […]
