New IL Fast-Track Foreclosure Law Casts Fresh Light On Proposed FHFA Five-State Guaranty Fee Hikes
February 14, 2013
It remains to be seen how or whether a newly signed law in Illinois to fast-track certain foreclosures will impact a proposal by the Federal Housing Finance Agency to levy extra guaranty fee charges on Fannie Mae and Freddie Mac mortgages originated in five slow-foreclosure states, including Illinois, but experts say other states may be inspired to follow suit. Last week, Illinois Gov. Pat Quinn, D, signed into law SB 16, which among other provisions, would allow servicers to expedite the foreclosure timelines for abandoned or vacant homes from about 18 months to as little as 90 days. Although the bill was...
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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