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An alternative perspective on neighborhood stabilization

Go beyond traditional retail disposition
When the U.S. real estate market collapsed in 2007, it not only triggered a recession and stock market crash, but it also sent nearly 9.3 million American homeowners into foreclosure. While in many respects the worst is now behind us, the reality is that the problem persists, with more than 930,000 properties currently in foreclosure or REO nationwide.
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From HW Magazine

Outsourcing: How to manage your weakest link

Two critical areas with third-party vendors
Unfortunately, as regulators take a harder look at third parties and their shortcomings, it often leads them straight back to the lenders and servicers who are supposed to be managing them. And with the financial penalties for third-party violations so significant, that’s the last thing lenders and servicers need.
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From HW Magazine

Introducing credit risk-sharing to FHA loans

Addressing the split personality of credit risk-sharing in the mortgage market
The FHA finds itself in a delicate position of balancing public policy interests against actuarial soundness of its $1 trillion plus Mutual Mortgage Insurance Fund. These twin policy goals at times run counter to each other, occasionally spilling over into the conventional-conforming market via FHA premium changes that create market distortions and adverse selection problems for the FHA.
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HUD mortgagee letter poses new challenges for mortgage servicers

Repairing to adjuster's scope of loss means higher standard for conveyance condition
If the hazard claim settlement proceeds are insufficient to complete the repair, the mortgage servicer may have to contribute corporate funds to remediation. If the repair is not timely, the mortgage servicer may have waived the contractual right to claim depreciation, leaving money on the table.
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Executive Conversation: Jason Allnutt on moving beyond distressed assets

Auction.com launches Ten-X Homes retail platform
Our new Ten-X Homes platform will offer our clients the opportunity to sell using online auctions or, for the first time, use a more traditional non-auction option. We felt like the market was ready for this — over 90% of home purchases today include the use of online services like Zillow and realtor.com, and a large percentage of the people who register for our online auctions identify themselves as owner occupants.
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From HW Magazine

Company Spotlight: Simplifile

Forging a transparent partnership between lenders and settlement agents
Many lenders are still using email or phone calls and collaborating manually with settlement agents to close loans, which raises security and compliance issues and often causes confusion and mistakes. Simplifile Collaboration helps solve these issues, providing real-time chat, messaging, secure sharing of documents and fees and a complete audit trail.
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From HW Magazine

How investors get access to housing credit

A growing demand for housing collateral fuels rated distressed capital
For risk-averse investors, the improvement in housing hasn’t assuaged the looming legacy issues. But a second group of investors believes that housing is in a favorable position in the distressed cycle, where leverage is lower than before and is just starting to increase. These opportunistic credit investors see housing-related exposure — in other words, residential credit — as a particularly attractive part of the market.
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From HW Magazine

Fed rate hikes: No need for consumers to worry

Borrowers should be looking at other factors, not interest rate hikes
Factors that affect the yield on 10-year Treasuries will over time be reflected in mortgage rates. Two of these are inflation and economic conditions. We have enjoyed a low inflation environment for a number of years but if we had a bout of higher inflation it would lead to higher rates as investors in bonds require additional compensation for a loss in buying power.
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Is subprime lending ready for a comeback?

Citadel Servicing Corp. makes a strong move into underserved market
About four years ago, Citadel Servicing Corp., based in Irvine, California, became the first company since 2008 to expand the credit box by offering standard and alternative income documentation products to borrowers, funding loans as high as $3 million and offering a second-lien program. But the company takes an entirely different approach than the practices often associated with subprime lending, creating programs that effectively manage the risk involved.
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Lereta

LERETA

For more than 29 years LERETA has provided the mortgage and insurance industries the fastest, most accurate and complete access to property tax data and flood hazard status information across the United States. Since 1986, LERETA committed to provide customers with extraordinary service and cost-effective property tax and flood solutions and continues to have this same objective today. LERETA’s services are designed to increase efficiency, reduce penalties and liabilities, and improve processes for mortgage originators and servicers. LERETA’s dedicated teams of real estate tax and flood professionals along with LERETA’s experienced management team allow LERETA to lead the industry in service and technology.