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Short Sale Real Estate Investing – Legislators Urge Greater Transparency
Short sale real estate investing news – A California congresswoman, Susan Davis, has introduced a bill, The Short Sale Transparency Act, which would require loans funded through Fannie Mae or Freddie...
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Fannie Mae and Freddie Mac Return to the Public Feeding Trough
Freddie Mac has asked for another $6 billion from the federal government in order to prepare for the impact of the refinancing program and continuing high default rates. Freddie Mac lost $4.4 billion...
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New Freddie Mac Short Sale Affidavit to Go Into Effect January 1
Freddie Mac’s latest guide contains some changes to how Short Sales are handled effective January 1. Servicers are encouraged to begin using the new Freddie Mac Short Sale guidelines before that...
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Fannie Mae and Freddie Mac Will Hold Off on Repossessions over the Holidays
As they have done in the past, Fannie Mae and Freddie Mac will spread a little Christmas cheer to homeowners in foreclosure over the holiday season. The GSEs announced a foreclosure moratorium on all...
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Fannie Mae Matches Freddie Mac in Extending Mortgage Forbearance
A couple weeks ago Freddie Mac announced that it would extend the terms of forbearance agreements in order to help more unemployed families to stay in their homes. This past week it was Fannie Mae’s...
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BOA Developing Foreclosure Rental Program
Ron Stuzenegger, head of Bank of America’s legacy asset servicing division, has indicated that the bank is in the process of preparing a rental program for former homeowners of property it is taking...
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Fed Makes Recommendations to Improve Health of Housing Market
This past week two Federal Reserve officials made suggestions to improve the housing market in addition to Fed chairman, Ben Bernanke, who came out with a game-changing white paper with numerous...
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Freddie Mac Cuts Refi Credit Score Requirements for Some
In an effort to make refinancing available to more homeowners Freddie Mac announced that it would no longer require homeowners to have credit scores of 620 or higher as long as the loan is current,...
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Government Revamps HAMP Loan Modification Program
In an effort to encourage investors to settle HAMP loan modifications with principal reduction by tripling incentives from 18 to 63 cents on the dollar depending on the loan to value change that would...
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Obama Administration: Millions to Get Refinance at Favorable Terms
Most were expecting the President to announce a breakthrough in the AG negotiations with the major lenders over robo-signing in his State of the Union. That announcement did not come. Instead the...
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Freddie Mac Bets against Certain Refinancing
The U.S. Treasury Department has launched an official probe of mortgage giant, Freddie Mac’s alleged practice of purchasing “inverse floaters” which are collateralized based on the difference between...
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Look Who’s Not Included in Mortgage Settlement
The $25 billion settlement struck with the five major mortgage banks has a couple of notable players absent in the settlement—Fannie Mae and Freddie Mac. Any homeowner with a mortgage bought by...
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Fannie and Freddie See Improving Housing Picture
With continuing upward sales of existing housing during the months of December and January Fannie Mae and Freddie Mae economists see a brighter housing picture for 2012 than in the past several years....
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Multi-family Bond Markets Are Flourishing
Rents have soared and vacancy rates in rental apartments are at a 10 year low. Investors have been snapping up low interest GSE loans and these loans are being packaged into securities and sold off...
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Fannie and Freddie Set Tighter Timelines for Short Sales
Fannie Mae and Freddie Mac have joined Bank of America in tightening timelines for lender response to homeowners on Short Sale approvals. They will require all lenders and servicers to make the go- or...
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Mortgage Rates at All-Time Low; Could Increase Soon
The Freddie Mac index of 30 year fixed rate loans pushed to the lowest recorded rate of 3.84% for the week ending May 3, 2012, down from the previous week’s low of 3.88%. A year ago interest rates...
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BOA Must Buy Back $330 Million in Freddie Mac Loans
By the end of May Bank of America will have repurchased $330 million in loans it sold to Freddie Mac. The affected pools were bought in 2010 and 2011 and included a variety of 30-year, 15-year and...
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Freddie Mac Likes What It Sees In the Economy
Frank Nothaft, Freddie Mac vice president and chief economist, believes most of the economic trends are moving in the right direction, if somewhat slowly. Nothaft’s observations were made in the May...
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HARP Accounts for 20% of Refinancing in May
As of May refinancing through the Home Affordable Refinance Program accounted for 20% of all refinanced loans through the GSEs. In May 67,456 loans were refinanced through HARP while the total Fannie...
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Military Families Receive Short Sale Break
The Federal Housing Finance Agency has announced a new policy designed to help military families sell their over-leveraged homes though a Short Sale more easily than in the past. Those with Fannie Mae...
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