DS News

DS News

Negative Equity Rate Falls by Nearly 30 Percent Year-Over-Year

By Brian Honea The number of residential mortgage borrowers in a negative equity position during January 2015 was reported at slightly more than four million, which is a decline of 29 percent from the same period in 2014, according to Black Knight’s March 2015 Mortgage Monitor released Monday. The post Negative Equity Rate Falls by Nearly 30 Percent Year-Over-Year appeared …

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FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

By Brian Honea The U.S. Department of Housing and Urban Development (HUD) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders the option of delaying foreclosure proceedings on surviving non-borrowing spouses. The post FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses appeared first on DSNews. Via:: …

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HUD Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

By Brian Honea The U.S. Department of Housing and Urban Development (HUD) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders to delay foreclosures on surviving non-borrowing spouses. The post HUD Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses appeared first on DSNews. Via:: HUD Rescinds Rule …

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Government Agencies Issue Minimum Requirements for State-Run Appraisal Companies

By Scott Morgan Compliance by states that do have an AMC regulatory body begins one year from the day the new regulations go live, which would put the deadline at the beginning of Q3 2016, according to FHFA. Compliance means adopting minimum registration and supervisory protocols for AMCs, including those that are subsidiaries of federally insured depository institutions. The post …

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Counsel’s Corner: Maintaining a Balance to Compete Favorably While Volume Decreases

By Brian Honea Counsel’s Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Marlon Bates of Salt Lake City-based Scalley Reading Bates Hansen & Rasmussen. The post Counsel’s Corner: Maintaining a Balance to Compete Favorably While Volume Decreases appeared …

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Fannie Mae’s Mortgage Portfolio Expands Again While Delinquency Rate Drops To 1.78 Percent

By Brian Honea Fannie Mae’s gross mortgage portfolio has now expanded in two of the last three months following an increase at a compound annualized rate of 7.8 percent in March, according to Fannie Mae’s March 2015 Monthly Volume Summary released Thursday. The post Fannie Mae’s Mortgage Portfolio Expands Again While Delinquency Rate Drops To 1.78 Percent appeared first on …

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DS News Webcast: Friday 5/1/2015

By Jordan Funderburk Fannie Mae and Freddie Mac would likely need another sizable draw from the U.S. Department of Treasury should an economic downturn occur, according to data released by the Federal Housing Finance Agency on Thursday. The Dodd-Frank Act Stress Tests report indicated that the two GSEs would need a second taxpayer bailout, this time of up to $157.3 …

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Ocwen Reports Preliminary Net Income of $34 Million for Q1

By Brian Honea “I am proud of what we have accomplished as far as managing the business through this difficult transition period. We made great progress on our asset sale strategy, have returned to profitability and continue to generate substantial operating cash flow,” said Ron Faris, President and CEO of Ocwen. “However, I am not satisfied with only making $34 …

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