Archives For: Industry Updates
Freddie Mac: FHLMC Guide Bulletin 2019-16: Selling Updates
Freddie Mac issued a release containing a simplification of its age of documentation requirements for disasters.
10 Jul 2019
Auction.com: Western U.S. Could See Foreclosure Increase
Auction.com published its 2019 Disposition Client Summit Survey Report. According to its findings, western region U.S. markets are at risk for the highest amount of foreclosure activity in the second half of the year.
1 Jul 2019
Mortgage Industry Calls for Servicing Regulation Uniformity in New York
National Mortgage News published an article discussing a joint letter from the MBA and NYBA that highlights discrepancies in the New York Department of Financial Services’ suggested changes to 3 NYCRR 419. The regulation covers business conduct rules for servicing mortgage loans.
1 Jul 2019
Freddie Mac: FHLMC Guide Bulletin 2019-12: Servicing Updates
Freddie Mac issued a release containing a number of updates for servicers. Included is a change to deed-in-lieu foreclosure inspection requirements that will become effective on July 15, 2019.
12 Jun 2019
NFIP Legislation Approved by House Financial Services Committee
Two proposed bills (H.R. 311 and H.R. 3167) that aim to reform the National Flood Insurance Program (NFIP) have been passed by the U.S. House Committee on Financial Services.
12 Jun 2019
Erie County Taking Steps to Identify Vacant Property Stakeholders
WKBW ABC 7 published an article discussing rising foreclosure rates in Erie County, N.Y., and steps officials have taken to combat the issue. Included is new initiative set to being June 1, 2019, that will align the county with the WNY Law Center to research banks/financial institutions responsible for the maintenance of vacant homes in foreclosure and take legal action on those not in compliance.
29 May 2019
Exercising Caution in Property Preservation
On May 27, DS News published an article authored by McCalla Raymer Leibert Pierce (MRLP) Managing Partner Marcos Posada. In it, Posada explores Illinois vacant property laws and provides insight into the importance for servicers to engage properties cautiously.
27 May 2019
FHFA: Refinance Report – First Quarter 2019
The Federal Housing Finance Agency (FHFA) issued its first quarter 2019 Refinance Report.
20 May 2019
Baltimore Ransomware Attack Cripples City’s Mortgage Operations
The Baltimore Sun published an article outlining issues stemming from a May 7 cyber attack that has compromised the City of Baltimore’s government servers.
14 May 2019
CFPB: Senior Leadership and Executive Team Additions
The Consumer Financial Protection Bureau (CFPB) announced additions to its senior leadership and executive teams.
13 May 2019