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Fannie Mae and Freddie Mac suffered "significant financial harm" from "excessively-priced" force-placed insurance, an inspector general's report says, advising their regulator to assess whether to sue banks and insurers for damages.
Risks and headwinds abound, but if smaller investors opt to pool their properties into multi-borrower securitizations, this market could materially grow. Lingering economic factors suggest large players will remain involved.
Image: Fotolia
Ocwen hopes to do more with a novel transaction structure that transfers the prepayment risk of mortgage servicing rights. Other companies are exploring ways to finance a notoriously hard-to-finance asset.
The challenge for many would-be flippers is a shortage of available inventory to flip. Image: Fotolia.
Profits from flipping houses surged last year, but if prices stabilize as expected, this activity could level off.
Many industry executives believe the top focus for servicers this year will be geared toward compliance. Image: Fotolia
Right now, there are contradictory messages between servicers of what is compliant. Utilizing technology can help servicers remain compliant to all of the industry regulation in effect today.
The long lags involved in putting together funding, acquiring land and navigating the planning process mean that building volumes remain subdued today, says Capital Economics' Paul Diggle. Image: Thinkstock
There have been low levels of homebuilding in Nevada, Arizona, California and Florida due to the glut of cheap, distressed homes that flooded the market during the recession.
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