ARTICLES

  • REO disposition: HomePath golden ticket

    Fannie Mae is the largest owner of REO properties in the United States. The government-sponsored enterprise reported in its second quarter 2010 financial statement that it had more than 129,000 properties in its inventory as of June 30 — more than double the 62,000 that fellow GSE Freddie Mac reported owning during the same period and nearly three times the estimated 44,000 REO properties that the Department of Housing and Urban Development owns from the Federal Housing Administration mortgage guarantee program.
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  • The state of servicing

    Editor's note: This excerpt highlights coverage in this month's HW Magazine. Subscribe now to get the full story. Modern mortgage loan servicing requires vigilant attention to detail, roundtable participants say At a recent industry conference, HousingWire sat down with with Jay Loeb, vice president and a principal owner of National Creditors Connection, Inc (NCCI), Gagan Sharma, president and CEO of BSI Financial Services and M.E. Mike Wileman, president and CEO, Orion Financial Group.
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  • A Republican’s view of financial reform

    U.S. Rep. Shelley Moore Capito met with HousingWire for an exclusive interview just days before President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act to talk about financial reform, Fannie Mae and Freddie Mac, the future of HUD and the Federal Housing Administration. TO READ THE FULL STORY, SUBSCRIBE NOW.
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  • Tech Nonprofit Automates HAMP Mod Apps for Servicers, Counselors

    Hope LoanPort, the service provider that connects housing counselors with mortgage servicers to help borrowers apply for mortgage modifications, recently offered journalists a hands-on demonstration of its Web-based software. The Hope LoanPort service is the brainchild of the Hope Now Alliance's technology committee. Hope Now is a consortium of servicers, housing counselors, the government-sponsored enterprises (GSEs) and other industry players working to find solutions to the foreclosure and mortgage crisis.
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  • JPMorgan Buys $3.5bn Multifamily Mortgage Portfolio from Citi

    JPMorgan Chase [JPM]] today purchased a $3.5bn portfolio of 3,800 performing multifamily and other commercial real estate (CRE) loans from a Citigroup [stock C][/stock] subsidiary. While JPMorgan declined to specify the terms of the deal in a news release, it did say the loans are primarily multifamily CRE mortgages backed by properties in California, New York and Illinois. All of the loans in the portfolio are performing and the properties show strong credit performance, JPMorgan said.
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  • Zillow Sees 3.6% Dip in US Home Prices as More Underwater Mortgages Come up for Air

    For the 14th consecutive quarter, national US home values declined 3.2% year-over-year during Q210, according to a quarterly market report produced by real estate listing website Zillow. As HousingWire first reported in this week's edition of "Monday Morning Cup of Coffee," the report also found a bit of positive news, as the rate of borrowers underwater on their mortgage declined.
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