Fannie Mae explains 6 ways to push borrowers to refi

Senate approves short sale tax break

Allows tax relief on 2014 short sales

Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
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Lending

Fannie Mae explains 6 ways to push borrowers to refi

Time is running out
Brena Swanson
The FHFA continues to drill into homeowners that the Home Affordable Refinance Program and the Home Affordable Modification Program are not scams. To help push borrowers along, Robert Koller, director of credit risk management with Fannie Mae, gave six quick facts that could make all the difference to getting people to refinance.
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Redfin raises $71 million for continued expansion

Latest move in battle for online real estate domination
Ben Lane
In the latest move in what has been a banner year in the battle for domination of the online real estate market, Redfin announced that it received a large injection of funding from several large investors. The company said that it plans to use the money to continue its growth.
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Freddie Mac: Mortgage rates once again drop to new yearly lows

Drop further below 4%
Brena Swanson
Mortgage rates have decreased throughout this year, recently hovering around 4%. And now, according to Freddie Mac's latest mortgage report, they're even lower.
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Countrywide whistleblower will receive $57 million

Edward O’Donnell to get part of record Bank of America settlement
Ben Lane
The whistleblower at the center of the so-called "Hustle" case against Bank of America over Countrywide mortgage loans will also receive a hefty payout for his participation in the record $16.65 billion settlement between BofA and the U.S. Department of Justice to resolve claims over toxic mortgage-backed securities on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Congressional budget bill kills HUD homeowner assistance program

HAWK program designed to offer savings on FHA-insured loans
Ben Lane
One of the most ballyhooed features of the FHA’s plan to help ease credit availability is not going to happen, thanks to budgetary wrangling in Congress. The HAWK program is no more.
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Yellen talks interest rates and oil prices

Fed Chair comments on FOMC announcement
Brena Swanson
Federal Reserve Chair Janet Yellen commented on two hot topics in the market right now: interest rates and oil prices. And her answers might surprise you.
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Bank of America, U.S. Bancorp face another MBS suit

NCUA files lawsuit against two large banks
Brena Swanson
Some of the country's biggest banks are facing another mortgage-related lawsuit. This time the National Credit Union Administration Board is filing the suit, claiming that both Bank of America and U.S. Bancorp failed to review mortgage loan files for irregularities.
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FOMC: Fed maintains federal funds rate

3 charts reveal the Fed’s economic projections
Brena Swanson
According to the latest Fed meeting, the current 0% to .25% target range for the federal funds rate will likely be appropriate for a considerable time following the end of its asset purchase program in October.
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State of New York bans fracking

Cuomo officially bans oil and gas extraction process for entire state
Ben Lane
Citing the potential for air and water pollution and "inestimable public-health risks," the state of New York has officially banned the oil and gas extraction process known as fracking. The move becomes that latest in an ongoing nationwide battle over fracking. Here's why it matters for housing.
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Lenders fear weakening mortgage demand in 2015

Forecast calls for modest housing expansion
Trey Garrison
The outlook for 2015 is generally good, but lenders are worried that demand for mortgages is going to slow. Here's why, and why they may be right to worry.
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