Market shift: HSBC offloads huge REO portfolio to Altisource

How to get a mortgage right now, even with bad credit

HUD, FHA programs abound for those hit by the recession

America’s housing not ready for ever-expanding over-50 population

Harvard/AARP Study: Housing lacks accessibility for boomers
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News

Dick Bove: "Mortgage crisis by winter"

Who will fill in the financial vacuum?
Brena Swanson
The end of 2014 does not look good, according to banking analyst Dick Bove. "A toxic brew is bubbling in the housing market that will lead to a mortgage crisis by winter," Bove cautioned.
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HUD’s Castro keynotes Bipartisan Policy Center housing summit

New secretary to bring focus on affordability, housing challenges
Trey Garrison
The new Housing & Urban Development secretary will be keynoting the Bipartisan Policy Center’s 2014 Housing Summit, Housing America’s Future: New Directions for National Policy.
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SecureView lands giant Fannie Mae field-services deal

Certain states must now use clear "boards"
Brena Swanson
Good news for SecureView: The company landed a giant deal with Fannie Mae, officially requiring vendors to install the distinct, clear boarding to secure vacant properties. The contract is being rolled out, gradually, in many states.
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How to get a mortgage right now, even with bad credit

HUD, FHA programs abound for those hit by the recession
Trey Garrison
Let’s be honest, there’s a better than even chance that the average American has a FICO score that is, how to put it nicely, suboptimal. That doesn't mean they can't get a mortgage.
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Home Depot may be victim of ginormous credit card data breach

Many times larger than Target?
Ben Lane
The report states that a massive batch of stolen credit and debit cards went on sale in the “cybercrime underground” on Tuesday morning and that multiple banks are reporting that they are seeing evidence that the stolen credit data may have come from Home Depot stores.
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FHFA changes to FHLBs would devastate REIT membership

FHFA director proposes ongoing stake, more stringent definitions
Trey Garrison
The Federal Housing Finance Agency is proposing a new rule that would revise the requirements for financial institutions to apply for and retain membership in one of the 12 Federal Home Loan Banks, and dial real estate investment trusts out.
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MERS wins again; this time in Pennsylvania

Superior Court upholds ruling on MERS’ authority to assign mortgage
Ben Lane
A Superior Court ruling in Pennsylvania saw another legal victory for MERSCORP in a wrongful foreclosure lawsuit. The mortgagor, Matthew Gibson, had sued Bank of America, claiming that the bank did not hold the note securing his mortgage and therefore had no rights to foreclose. Gibson also claimed that MERS did not have the authority to assign the mortgage.
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Market shift: HSBC offloads huge REO portfolio to Altisource

Lays off most of REO staff
Brena Swanson
In the latest addition to Altisource Portfolio Solutions, the company is acquiring the servicing rights to HSBC's REO department. The decision is already drawing fire for its cloak-and-dagger execution.
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Construction spending in July jumps the most in two years

Public, nonresidential spending fuel the bulk of growth
Trey Garrison
Construction spending during July 2014 was estimated at a seasonally adjusted annual rate of $981.3 billion, 1.8% above the revised June estimate of $963.7 billion and the biggest jump in two years.
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America’s housing not ready for ever-expanding over-50 population

Harvard/AARP Study: Housing lacks accessibility for boomers
Trey Garrison
Americans are living longer and the country doesn’t have nearly enough appropriate housing to support them, according to a new report by the Harvard Joint Center for Housing Studies and AARP Foundation.
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