Archives For: Featured Resources
New York Community says Flagstar Deal won’t Close Until 2022
New York Community Bancorp no longer expects to complete its pending bank acquisition this year. The Long Island-based company doesn’t anticipate that state and federal regulators will approve its $2.6 billion deal to buy Flagstar Bancorp in Troy, Michigan, before the end of the year.
27 Oct 2021
FHA Posts Draft HECM Program Sections of Handbook 4000.1
FHA recently posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for stakeholder review and feedback. The draft sections are available online for industry feedback through Monday, November 15, 2021.
27 Oct 2021
The State with the Most Foreclosures
Foreclosures plagued the real estate market during the Great Recession. Home prices plunged so much in some areas that people lost all their home equity and even faced situations in which the value of their mortgages was higher than the value of their homes. Los Angeles, Phoenix and Las Vegas were hit particularly hard.
26 Oct 2021
FEMA Declared Disaster Virginia Flooding, Landslides, and Mudslides
FEMA issued a Major Disaster Declaration for areas of Virginia affected by flooding, landslides, and mudslides that occurred August 30-31, 2021.
26 Oct 2021
Freddie Mac: Mortgage Serious Delinquency Rate Decreased in September
Freddie Mac reported that the Single-Family serious delinquency rate in September was 1.46%, down from 1.62% in August. Freddie’s rate is down year-over-year from 3.04% in September 2020.
25 Oct 2021
FEMA Declared Disaster Delaware Remnants of Hurricane Ida
FEMA issued a Major Disaster Declaration for areas of Delaware affected by remnants of Hurricane Ida from Sept. 1 – 7, 2021.
24 Oct 2021
FEMA Declared Disaster Mississippi Hurricane Ida
FEMA issued a Major Disaster Declaration for areas of Mississippi to supplement state, tribal and local recovery efforts affected by Hurricane Ida from Aug. 28-Sept. 1, 2021.
22 Oct 2021
Delinquencies Continue to Decline but Forbearances Still a Concern
The national delinquency rate has fallen below 4.0 percent for the first time since COVID-19 started messing up the world.
22 Oct 2021
Illinois, New Jersey and Delaware have Most Markets at Elevated Risk from Pandemic Fallout
ATTOM report shows that New Jersey, Illinois and Delaware had the highest concentrations of the most at-risk markets in the third quarter – with the biggest clusters in the New York City and Chicago areas – while the West remained far less exposed.
21 Oct 2021
HUD Issues ANPR on New Non-LIBOR Index Rate for ARMs
HUD issued an advanced notice of proposed rulemaking regarding adoption of a new index rate for FHA-insured adjustable rate mortgages (ARMs), as the previously-used London Interbank Offered Rate (LIBOR) is set to be discontinued.
21 Oct 2021