Breaking News
  • RE/MAX getting into the mortgage business; launches Motto Mortgage

    While most of the biggest names in mortgage lending are focused on the Mortgage Bankers Association’s annual conference, taking place right now in Boston, one of the biggest names in real estate revealed that it is getting into the mortgage business. On Tuesday, RE/MAX announced that it is launching Motto Mortgage, a mortgage brokerage franchise that the company plans to take nationwide. Click the headline to read more.

Servicing The Ticker

FHFA: GSEs prevented 2.5 million foreclosures

Fannie Mae and Freddie Mac prevented more than 2.5 million foreclosures over the course of the past four years, the Federal Housing Finance Agency said.

When breaking out the four-year total by foreclosure-prevention type, about 1.3 million of the loans saved by GSEs benefited from permanent loan modifications, the FHFA explained.

Those efforts ended up keeping approximately 2.1 million borrowers in their homes.

The GSEs successfully executed 134,000 foreclosure prevention actions in the most recent third quarter, up 4% from the second quarter.

When looking at just the third quarter, the GSEs finalized about 38,000 short sales and deeds-in-lieu, up 4% from 2Q.

Of those borrowers saved in the third quarter, 45% received loan mods and had their monthly payments reduced by more than 30%.

About one-third of loan mods completed in the third quarter included principal forbearances.

The REO inventory continued to fall as property dispositions continued to gain traction, outpacing property acquisitions, the FHFA concluded.


Services Guide

Comments powered by Disqus