Ginnie Mae issuers produced $38.15 billion into mortgage-backed securities in July, an 8.3% increase from the previous month. (Includes two data tables.)
The case revolved around a property in Brooklyn, NY, with a reverse mortgage dating back to February 2007 and whose owner died in February 2013. The borrower’s estate challenged the foreclosure, arguing that it was past the statute of limitations.
Mortgage servicers will be able to offer the mortgage recovery advance option as a standalone feature or as part of a 30- or 40-year loan modification, the Rural Housing Service said.
A California-based real estate professional admitted to conspiring to originate 102 home loans worth more than $55 million using false and fraudulent loan application information.
Vice President Kamala Harris outlines economic agenda for her presidential campaign; ex-FHA official joins M&T Bank; VA outlines secondary borrowing requirements when using assumable mortgages; FHA drafts guidance on loss-mitigation consultation requirements.
The executive president of the Mexican Association of Retirement Fund Administrators noted that some Mexican investors see U.S. MBS as a riskier investment than U.S. Treasuries.
Lenders should carefully consider geographic-specific data when crafting special purpose credit programs, according to an Urban Institute report on designing SPCPs.