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Help for Underwater Mortgages Coming: Industry News for 4/11/2012

Posted on 4/11/2012 by Administrator Account in industry news
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Resistance to Fannie and Freddie's principal reduction plan, mortgage origination statistics, rising fraud concerns in certain industry segments, and more in today's industry news round-up!

Big Numbers Still Don't Sway DeMarco Towards Principal Reduction l DSNews.com

While arguments continue to be made that Fannie Mae and Freddie Mac should apply principal reductions to keep underwater borrowers from going into foreclosure, Edward DeMarco, FHFA acting director, still has plenty of ammo to defend his highly criticized stance.

Lawmakers Say GSEs' REO Rental Initiative Isn't for California l DSNews.com

Nineteen members of California's congressional delegation want to keep Fannie Mae's and Freddie Mac's "for rent" signs outside their state's borders. Led by Congressman Gary Miller, the group sent a letter to Edward DeMarco, acting director of the Federal Housing Finance Agency, petitioning him to exclude the 600 homes in California slated for the pilot prog...

Underwater owners get promise of help l CNN Money - Real Estate

If falling prices have left you with a mortgage bigger than your home's value, you may soon be able to refinance at a lower rate.

Still resisting principal reductions l CNN Money - Real Estate

Allowing Fannie Mae and Freddie Mac to offer principal reductions may save taxpayers money thanks to enhanced government incentives, a preliminary analysis released Tuesday shows.

Mortgage origination stats from Ellie Mae, MBA l The Title Report

Reports from the Mortgage Bankers Association (MBA) and Ellie Mae this week provided a snapshot of just where the mortgage origination market is these days as the industry heads into prime homebuying seasons.

Survey: Fraud concerns up across industry segments l The Title Report

We all read the stories and hear the experts discuss the state of fraud in the real estate industry and the causes and solutions and preventive measures that exist or should exist. But what does the industry itself think about the problem?
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