Fannie Mae and Freddie Mac completed 65,960 foreclosure-prevention actions during the first quarter of 2015, a slight increase from the previous period, according to a recently released report from the Federal Housing Finance Agency. Of that number, there was a 1.0 percent uptick in the number of loan modifications in the first quarter. The number of completed repayment and forbearance plans rose somewhat faster, by 7.2 percent and 8.2 percent, respectively. The FHFA said...[Includes one data table]
Potential homeowners may be talking themselves out of the American dream, according to several recent surveys that show consumers underestimate their ability to get a mortgage. A Genworth survey of more than 100 lending executives found that 66 percent said eligible borrowers mistakenly think they don’t qualify for a mortgage. In a similar survey on consumer’s views on homeownership, Wells Fargo reported...
“The Greek crisis already has taken a toll on MBS and still poses a sizeable risk to performance,” according to a new report from Deutsche Bank Securities.
There are three major cooperatives that serve as middlemen between lenders and various counterparties: Lenders One, Capital Markets Cooperative and The Mortgage Collaborative.
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”