Mortgage Acts and Practices
Distressed homes sometimes need a lot of work, and so more lenders are offering loan options to help home owners or investors rehab the properties.
Republican presidential contender Mitt Romney released a 6-page white paper on housing policy, but he did not include specifics on how his administration would tackle the five areas he's targeted for action.
At a press conference he held last week to announce the MBS purchase plan, Federal Reserve Chairman Ben Bernanke said tight underwriting standards, which are keeping otherwise creditworthy households from getting financing, are in fact easing.
The FHFA is proposing charging more for mortgages in these five states because it takes longer for banks to foreclose in these places.
Fannie Mae announced that it will no longer be using third-party vendors and sales teams to help manage its REO properties. However, the GSE says it does still plan to use real estate professionals to market properties.
The Consumer Financial Protection Bureau (CFPB) is writing rules that can have an enormous impact on real estate.
Survey findings and an analysis of historic credit scores and loan performance show that a return to safe and sound lending standards would boost home sales and add jobs.
The Federal Reserve is targeting mortgage rates again in an effort to boost the overall economy.
Topics: Mortgage Acts and Practices
Now that the agency has clarified when lenders have to buy back bad loans, will banks revisit their strict GSE lending standards?