The outlook for the REO industry, a range of reactions to Fannie and Freddie's principal reduction plan, help for underwater owners, and more in today's industry news round-up!
What Does the Future Look Like for the REO Industry? l Origination News - REO
With over a million borrowers delinquent on their mortgages and nearly two million properties in the foreclosure pre-sale inventory, analysts, Realtors and servicers can only speculate about when the housing industry will take positive steps towards a recovery.
Big Numbers Still Don't Sway DeMarco Towards Principal Reduction l DSNews.com
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, still has plenty of ammo to defend his highly criticized stance.
Lawmakers Say GSEs' REO Rental Initiative Isn't for California l DSNews.com
Nineteen members of California's congressional delegation want to keep Fannie Mae's and Freddie Mac's "for rent" signs outside their state's borders. Led by Congressman Gary Miller, the group sent a letter to Edward DeMarco, acting director of the Federal Housing Finance Agency, petitioning him to exclude the 600 homes in California slated for the pilot prog...
Underwater owners get promise of help l CNN Money - Real Estate
If falling prices have left you with a mortgage bigger than your home's value, you may soon be able to refinance at a lower rate.
Still resisting principal reductions l CNN Money - Real Estate
Allowing Fannie Mae and Freddie Mac to offer principal reductions may save taxpayers money thanks to enhanced government incentives, a preliminary analysis released Tuesday shows.
Mortgage origination stats from Ellie Mae, MBA l The Title Report
Reports from the Mortgage Bankers Association (MBA) and Ellie Mae this week provided a snapshot of just where the mortgage origination market is these days as the industry heads into prime homebuying seasons.
Survey: Fraud concerns up across industry segments l The Title Report
We all read the stories and hear the experts discuss the state of fraud in the real estate industry and the causes and solutions and preventive measures that exist or should exist. But what does the industry itself think about the problem?
A Home to House Antiques l Wall Street Journal - Real Estate
This 6,177-square-foot Nantucket shingle-style home, located on a narrow stretch of the Miles River in southeastern Maryland, is flush with the owners' collection of antique furnishings.