Weather-wise, we're having a relatively placid season. But legal and regulatory developments are a different story when it comes to lender-placed insurance.
With mounting indicators clearly showing that the so-called housing recovery was just an illusion, and many housing industry pundits who formerly touted the validity of said recovery now recanting their views, there should be no doubt that we are headed for another/further housing downturn.
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.
There will be enough grist for the NPL mill for at least three more years, industry insiders say.
The lender can experience problems selling a loan that loses qualified mortgage rule's protection. The lender also could be stuck in a vulnerable position if that loan ultimately defaults.
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.