DS News

DS News

FHFA Launches Neighborhood Stabilization Pilot Program in Illinois

By Scott Morgan The Neighborhood Stabilization Initiative is a set of strategies that aim to help delinquent borrowers avoid foreclosure and create a more efficient disposition path for foreclosed properties that will first be introduced in Cook County, Illinois. The housing market in the county, which contains Chicago, took a precipitous dive at the end of 2008 that took four …

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Counsel’s Corner: Lenders Are Simply Enforcing Contract Terms, Not ‘Fighting’ Borrowers

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 Roy Diaz of Fort Lauderdale, Florida-based SHD Legal Group. The post Counsel’s Corner: Lenders Are Simply Enforcing Contract Terms, Not ‘Fighting’ Borrowers appeared first on DSNews. …

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Q1 Net Revenues for Goldman Sachs Hit Four-Year High; Citi Profits Despite Lower Revenues

By Scott Morgan Michael Corbat, CEO of Citigroup, said the announced sale of OneMain, the largest business remaining in Citi Holdings and which the bank sold to Springleaf Holdings for $4.25 billion in March, helped make for a profitable quarter. “We had a strong quarter overall, particularly in executing against our top strategic priorities,” Corbat said, adding that the bank …

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DS News Webcast: Thursday 04/16/15

By Francesca Shirk Housing advocates ask the nation’s top regulators to look into alleged pro-foreclosure campaigns on the part of investors, and a bill calling for more transparency from the CFPB passes in the House by an overwhelming majority — ahead on Thursday’s news wrap. A group of non-profit housing industry leaders and advocates have written a letter … The …

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House Subcommittee Chair Pushes for Main Street Regulatory Relief

By Brian Honea U.S. Representative Randy Neugebauer (R-Texas) on Wednesday urged his colleagues in the House to adopt legislation to ease the regulatory burdens on non-depository financial institutions in his opening statement of a House subcommittee hearing. In the Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing entitled “Examining Regulatory Burdens on Non-Depository Financial Institutions,” Neugebauer, who … …

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Housing Advocates Ask Regulators to Investigate Possible Pro-Foreclosure Campaigns

By Brian Honea The letter, dated April 15, is addressed to Department of Treasury Secretary Jack Lew, Federal Housing Finance Agency Director Mel Watt, and Consumer Financial Protection Bureau Richard Cordray. Ten housing groups signed the letter, which asks the regulators to investigate the investors for allegedly attempting to push borrowers into foreclosure instead of steering them toward loss mitigation …

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Fed Reports ‘Steady to Improving’ Residential Real Estate Activity in Most Districts

By Brian Honea The districts of Richmond, Chicago, and Dallas reported that residential mortgage demand, particularly in the area of refinancings, grew during the period, while New York reported steady growth. Delinquencies were down or at low levels in New York and Cleveland, while Philadelphia and Kansas City bankers expressed confidence in the quality of their loan portfolios, according to …

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