Countrywide Financial Corp., Calabasas, Calif., has announced the donation of $1 million over the next five years to the U.S. Conference of Mayors' National Dollar Wi$e Financial Literacy Campaign.The campaign, launched in 2004 by the Conference's Council on the New American City, encourages the development of local efforts to educate citizens about personal financial issues. The funds will be used to support the national Dollar Wi$e campaign and to create a program that will provide Capacity Grants to participants seeking to expand their Dollar Wi$e financial education programs, the company said. "High-quality financial literacy training is critical if we are to establish a new generation of educated consumers, who are not only able to secure a home, but who have the necessary financial management skills to retain it," said Countrywide's president and chief operating officer, Stanford L. Kurland. "In this way, programs like Dollar Wi$e benefit consumers by helping them become and remain homeowners, and the mortgage industry, as well, by helping to lower costs for originations and servicing." Countrywide can be found online at http://www.countrywide.com.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18