The demolitions in this Michigan city of about 100,000 people are part of the stepped up efforts by officials in several Midwestern states to rid their blighted neighborhoods of decayed housing that's depressing prices.
Woodward Asset Capital has started a real estate brokerage brand catering specifically to property sellers, including banks and mortgage servicers unloading foreclosed homes.
The National Fair Housing Alliance is accelerating efforts to force mortgage lenders, servicers and trustees to do a better job of maintaining foreclosed properties in minority neighborhoods.
The lawsuit claims the bank failed to maintain and market foreclosed homes in minority neighborhoods in Chicago, Memphis and Washington, in violation of the Fair Housing Act.
"We are seeing less interest from institutional buyers" of foreclosed properties, says Fannie chief executive Timothy Mayopoulos.
After eight straight profitable quarters and record annual income, Fannie Mae's dividend payments to the U.S. Treasury now exceed the bailout funds it's received since 2008.
The giant servicer wants third-party property sellers to use its online auction portal.
The Mortgage Bankers Association is trying "to get the regulators to just be aware of where one rule conflicts with another," says the trade group's president, David Stevens.
Tom Barracks Colony Capital is teaming with two other single-family rental-home landlords to offer as much as $1 billion in loans to similar operators this year, said three people with knowledge of the agreement.
Platinum Data Solutions has completed an initial round of accuracy testing on the 18 automated valuation models that it resells to lenders and servicers.
Appraisal management company and property asset manager LRES restructured its REO department by assigning separate teams of employees to distinct tasks across the property disposition lifecycle.
CFPB Servicing Standards
Fidelity's Plans for LPS
MT Awards Photos
Radian Group is now the leader in insurance-in-force but MGIC says it is not concerned about market share.
Institutional investors have bought as many as 200,000 U.S. properties in the last two years, taking advantage of real estate prices that fell as much as a third from the 2006 peak, and rising demand for rentals among Americans who lost their houses in the foreclosure crisis.
Fannie Mae is offering one of its periodic incentives for consumers to purchase foreclosed homes before they become available to investors.