Archive for March, 2010

GSEs release HAFA guidelines

Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.’s Home Affordable Foreclosure Alternatives Program (HAFA).  The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than Aug. 1. While largely consistent with the HAFA […]

Mini Trailers- The New Urban Blight!

I don’t have to ask if you’ve seen these obnoxious mini trailers parked all over our cities and towns. Once again creative marketers have found a way around the bans and restrictions on advertising. City legislators have done little or nothing to stop the proliferation of these unnecessary, distracting and generally obstructive little devils. As […]

Short Sales Get Shorter: New Deadlines to go into Effect

Daily Real Estate News | Thursday, March 15, 2012 As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process. Here are some of the new requirements for servicers under the settlement:  […]

18 Percent of Current Mortgages Underwater

    Correlation Between Negative Equity and New Problem Loans   September 10, 2012 JACKSONVILLE, Fla. – Sept. 10, 2012 – The July Mortgage Monitor report released by Lender Processing Services (NYSE: LPS) shows that national foreclosure inventories remain stable – and near historic highs – while delinquencies, down 30 percent from the January 2010 […]

Fannie Mae – Shortens Wait Period to Buy after Short-Sale

“To support overall market stability and reinforce the importance of borrowers working with their servicers when they are in difficulty”, Fannie Mae is updating their policies regarding the future eligibility of borrowers to obtain a new mortgage after experiencing a short-sale.  Effective on July 1, the “waiting period” (amount of time that must elapse after […]

Mortgage Fraud Investigations Are Climbing

State and federal investigators are cracking down on mortgage scammers, pushing arrests and civil actions to record levels. MortgageDaily.comtracked 134 mortgage-related lawsuits in the fourth quarter of 2009, an increase of 76 cases compared to the third quarter. There were 46 cases in fourth quarter 2008. “The upward trend in related fraud litigation is likely […]

Short sales in California surpass sales of foreclosed homes

In recent months, short sales have surpassed sales of foreclosed homes in California for the first time since the start of the housing crash in 2007, data show. January 08, 2013|By Alejandro Lazo, Los Angeles Times   When housing prices first went off the cliff, most mortgage lenders refused to cut deals with homeowners, choosing […]

Avoiding Mortgage Relief Scams

The offers seem like answers to the prayers of a struggling homeowner: A promise of legal tactics to forestall foreclosure, reduce mortgage balances and interest rates, or restore credit.  But these so-called mass joinder lawsuits being advertising in mailings are fraudulent – sent out by companies purporting to be law firms, according to a consumer […]

FHFA extends HARP for one year

The Federal Housing Finance Agency (FHFA) this week announced the extension of the Home Affordable Refinance Program (HARP) to June 30, 2011.  HARP is a refinancing program administered by Fannie Mae and Freddie Mac and expands access to refinancing for qualified individuals and families whose homes have lost value. The program was originally set to […]