Servicing

Freddie Mac announces first non-performing loan sale of 2018

Begins marketing $420 million in loans across four pools
Freddie Mac announced its first non-performing loan sale of 2018, where it is marketing about $420 million in non-performing loans. It is being marketed through these four pools: three standard pool offerings and one extended timeline pool offering, which targets participation by smaller investors, including nonprofits and minority or women-owned businesses.
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Fannie Mae selling more than $1 billion in non-performing loans

Sale includes two Community Impact Pools located in Florida
Fannie Mae is continuing to shed non-performing loans from its books, announcing Tuesday that its plans to sell off more than $1 billion in delinquent loans. According to the government-sponsored enterprise, this sale includes three larger pools that include approximately 5,900 loans totaling $1.04 billion in unpaid principal balance.
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Nationstar (aka Mr. Cooper) merging with WMIH Corp. in $3.8 billion deal

WMIH is former parent company of Washington Mutual
For more than 11 years, Fortress Investment Group controlled Nationstar Mortgage, the nonbank now known as Mr. Cooper, via majority ownership in the company’s shares. But that’s about to change. Nationstar announced Tuesday morning that it is merging with WMIH Corp., the former parent company of Washington Mutual in a $3.8 billion deal.
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HOA scammer takes out real liens on properties…from prison

Liens sent out after fake bills go unpaid
One neighborhood in Kansas City has been receiving fake homeowners association bills for years, and now, they are receiving real liens for not paying their fake bills. The scam was well known among the residents of the neighborhood, and they even warned new neighbors about the scam, saying the neighborhood doesn’t even have an HOA.
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Ginnie Mae threatens to boot lenders from bond program over VA loan churning

Steps up fight against lenders targeting veterans for quick refinances
Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae is now threatening a small number of lenders with expulsion from its primary mortgage bond program if the lenders do not address the issue.
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ServiceLink lures auction talent from RealtyBid

Welcomes Calier “CJ” Russell
In his new role, Russell will be responsible for internal operations as well overseeing ServiceLink Auction’s growing market share by supporting the company’s clients in their loss mitigation and disposition strategies, the company said in a statement.
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