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.)
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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.
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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.
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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.
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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.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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