FHFA NON‐PERFORMING LOAN SALES REPORT

ENTERPRISE NON‐PERFORMING LOAN SALES REPORT Introduction T his report provides transparency into the Enterprises’ sales of NPLs and borrower outcomes post‐sale. The report tracks the following key information: The borrower outcome data are preliminary. In many cases the new servicer has had only a short time since the servicing transfer to engage borrowers. As a … Read more

National Mortgage Settlement: Nevada Lawmakers Authorize New Financial Fraud Investigator Jobs

“Officials say they plan to use the money to investigate scams, guardians who exploit their elderly and vulnerable charges and financial activities linked to terrorism.” just as it was intended for… ~ Lawmakers authorize new financial fraud investigator jobs LAS VEGAS (AP) – Nevada lawmakers are releasing some money the state got in a national … Read more

FHA ANNOUNCES MOST SIGNIFICANT IMPROVEMENTS TO DATE FOR DISTRESSED NOTES SALES PROGRAM

FHA ANNOUNCES MOST SIGNIFICANT IMPROVEMENTS TO DATE FOR DISTRESSED NOTES SALES PROGRAM WASHINGTON – HUD announced today that it is making a series of enhancements to the Department’s Distressed Asset Stabilization Program (DASP) that would have purchasers of severely delinquent mortgages offer qualified borrowers principal reductions and protection from “payment shock.” Certain families with distressed … Read more

The Next Hustle: Private Equity Giant, Blackstone, Wants to Give Landlords Millions

“We’re not verifying any income [of the borrower]. What we’re looking at is roughly about 33 percent higher in rent versus the PITI payments, so you can see that there’s a little bit of a buffer there, in order to sustain any type of slight dip” ~ This private equity giant wants to give landlords … Read more

Shaky Alliances Form to Fight Zombie Foreclosures

Many advocates caution that RealtyTrac data underestimates the number of zombie foreclosures, which are hard to count. Shaky Alliances Form to Fight Zombie Foreclosures Nearly a decade after the subprime crisis, many neighborhoods are still plagued by undead leftovers from the crash. “Zombie foreclosures” are those that have been begun — but not finished — … Read more

Insulting But… Louisiana Receives $2.4M from Unclaimed Foreclosure Settlement Money, Average Defrauded Victim Owed $300

Insulting But… Louisiana Receives $2.4 Mil from Unclaimed Foreclosure Settlement Money, Average Defrauded Victim Owed $300 More than 4,000 borrowers in Louisiana are owed money from a settlement with mortgage servicers stemming from the 2008 housing bubble burst, according to State Treasurer John Kennedy. “If you lost your home to foreclosure during the national credit … Read more

Report: Over Five Million Baby Boomers Expect to Rent Next Home by 2020

Over Five Million Baby Boomers Expect to Rent Next Home by 2020 Baby Boomers and others aged 55 or older, including several million current homeowners, expect to move to rental units according to the first Freddie Mac 55+ Survey of housing plans and perceptions of people born before 1961. Specifically, the survey shows an estimated … Read more

New Jersey, Florida and New York Account for 49 Percent of FHFA’s Non-Performing Loans Sold

New Jersey, Florida and New York Account for 49 Percent of FHFA’s Non-Performing Loans Sold These three states also account for 47 percent of the Enterprises’ loans that are 1 year or more delinquent as of 12/31/2014. ~ 4closureFraud.org Tweet