Items Tagged with 'Distressed Asset Stabilization Program'

ARTICLES

  • Here's why the FHA's changes to non-performing loan sales are a universal win-win

    Boston Community Capital CEO Elyse Cherry on why changes could alter industry
    Recently, HUD announced important, valuable, and substantive changes to its Distressed Asset Stabilization Program, under which the FHA sells off deeply delinquent loans to private investors. The reforms will benefit homeowners, entire neighborhoods, and our economy as a whole – and have the potential to transform the way the private sector approaches the housing market. Here's why.
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  • New York launches "first of its kind" program; will buy delinquent mortgages from FHA

    NYC set to buy loans to keep homeowners out of foreclosure
    In what officials are calling a "first of its kind" program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details.
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  • FHA announces sweeping changes to non-performing loan sales program

    Buyers must now offer principal reduction, "payment shock protection"
    Amidst mounting public pressure to do more to keep struggling homeowners in their homes, the Department of Housing and Urban Development and the Federal Housing Administration announced a series of extensive changes to its non-performing loan sale program. Here are all the details.
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  • Urban Institute: Selling NPLs to investors is working

    Four ways to improve sales
    Researchers from the Urban Institute are already on the record with their view that more pools of non-performing loans need to be sold to private investors, but a new article posted on the Urban Institute's Urban Wire blog on Housing and Housing Finance suggests that more steps need to be taken to ensure a mutually beneficial result for all parties involved in a non-performing loan sale.
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  • Progressives using HUD NPL sales to disqualify Castro as Democratic VP nominee

    Fighting within Democratic Party leads to attacks on HUD Secretary
    The in-fighting over the Democratic Party's 2016 nominee for President suddenly placed HUD Secretary Julián Castro in the crossfire. Now, a cadre of progressive groups are targeting Castro in an attempt to disqualify him as Hillary Clinton’s potential nominee, and using HUD’s practice of selling non-performing loans to private investors as their weapon.
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  • Lone Star invests $1 billion in high-risk Caliber loans

    New loans will target Alt-A and "high quality" subprime borrowers
    According to a report from Bloomberg Businessweek, after about $200 million worth of loans have been made, the debt will be packaged into bonds and sold, with the new fund, Lone Star Residential Mortgage Fund I, retaining the riskiest pieces, according to the materials. The company expects to provide investors gross returns of 15% after three years.
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