Foreclosures | Mortgages | Financing
The best option for communities at this juncture is to recapitalize Fannie Mae and Freddie Mac, end their conservatorship, and allow Fannie and Freddie to preserve the public mission in their charters, and their affordable housing goals, John Taylor, CEO of National Community Reinvestment Coalition, writes in an editorial. Click to read Taylor’s plan for the future of Fannie and Freddie. …read more
From:: Real Estate Wire
The billionaire chairman of a Chinese conglomerate is the latest in a long list of suspended or “disappeared” Chinese bankers and finance heads, after President Xi Jinping’s sweeping anti-graft campaign spread to the financial sector this year. What would this look like in America, especially given that the country is still picking up the pieces from the financial crisis? …read more
From:: Real Estate Wire
Consumer spending reported solid growth in November, giving another positive sign to the industry that the Federal Reserve will likely raise interest rates next week for the first time in nearly a decade. …read more
From:: Real Estate Wire
Closing gifts are almost as important in the real estate world as securing a home, at least it is if you want your clients to come back. Are you thinking about buying a simple welcome mat and flowers for the family’s new home? You better think again. And a lot bigger. …read more
From:: Real Estate Wire
Tom Wind is the new president of U.S. Bank Home Mortgage, replacing Rick Aneshansel, who announced his retirement earlier this year. Wind has held executive positions with several other lenders, including EverBank Financial Corporation, Lehman Brothers/Aurora Loan Services and JPMorgan Chase. …read more
From:: Real Estate Wire
Until the motion picture The Big Short came closer to becoming a reality, the name Michael Burry, played by Christian Bale, was probably unfamiliar to most people. Now, Burry, who was one of the featured stars in the best-selling book of the same name by Michael Lewis, is getting back into mortgages. …read more
From:: Real Estate Wire
It’s a story that has been seen hundreds, if not thousands of times since the housing crisis. Homeowners fight back against foreclosure, saying that the lender or servicer has no legal authority to foreclose on their home. And it usually ends the same way, with the little guy losing. But one Houston couple took on one of nation’s biggest banks – and won. Big. …read more
From:: Real Estate Wire
A bill introduced Thursday in the House of Representatives would allow Fannie Mae and Freddie Mac to consider alternative credit-scoring models beyond the FICO credit score the government-sponsored enterprises currently use when determining what loans to purchase. …read more
From:: Real Estate Wire
The National Credit Union Administration announced its latest move in pursing recoveries on behalf of corporate credit unions that were hit with big losses due to the corporate credit unions’ purchase of faulty residential mortgage-backed securities. Now, Morgan Stanley becomes the latest to pay up. …read more
From:: Real Estate Wire
Despite CFPB Director Richard Cordray’s recent proclamation that the implementation of the new TILA-RESPA Integrated Disclosures rule was akin to the unfounded panic that surrounded Y2K, a new report from Moody’s finds the opposite may be true. Are TRID compliance violations running rampant? Get the latest from clicking the headline. …read more
From:: Real Estate Wire