On Monday, March 12, 2012, the federal government released details of the $25 billion dollar national mortgage settlement stemming from the "robo-signing" scandal. The agreement with Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc.
The Federal Housing Finance Agency (FHFA) released the final rule on private transfer fees. The final rule is not substantively different than the proposed rule; however, it does include minor changes advocated for by the National Association of REALTORS® (NAR).
NAR President Moe Veissi invites one of NAR's most respected leaders and statesmen, 2001 NAR President Richard Mendenhall, to share an inspiring and entertaining story of how General Schwarzkopf realized the no. 1 role of leadership: raise the bar. The story punctuates the reason for the REALTOR® rally in May to make sure housing is protected for generations to come.
On March 9, 2012, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac, or the GSEs) released details on the implementation of the new FHFA strategic plan through the use of a “2012 Conservatorship Scorecard”.
On February 15, 2012, Freddie Mac released an update to its servicing guide, reinforcing the requirement that servicers must waive all rights to seek deficiencies for short sale and deed-in-lieu of foreclosure transactions on Freddie Mac Mortgages.
On March 7, 2012, the Federal Housing Finance Agency Office of Inspector General (FHFA-OIG) released a report on FHFA’s supervision of Freddie Mac.