Archives For: Industry Updates
Tornado Outbreak in Texas, Oklahoma Kills 1, Injures at Least 10
At least three southern states were under a tornado watch Tuesday following an outbreak of twisters Monday night in Texas and Oklahoma that cut a path of destruction, killed one person and injured at least 10 others.
22 Mar 2022
Fintech Firm Seeks to Modernize Appraisal Process
Fintech firm CubiCasa is working with Fannie Mae and Freddie Mac to modernize the appraisal process by digitizing it.
22 Mar 2022
Share of Mortgage Loans in Forbearance Decreases by 1.18% in February
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 12 basis points from 1.30% of servicers’ portfolio volume in the prior month to 1.18% as of February 28, 2022.
21 Mar 2022
CFPB Encourages Mortgage Servicer Participation in HAF Programs
Last week, the CFPB published a blog post, stating that it “strongly encourages” mortgage servicers to participate in Homeowner Assistance Fund (HAF) programs.
21 Mar 2022
Baltimore City Council Introduces Legislation to Combat Vacant Properties
Baltimore City Council introduced five bills aimed at combating the city’s problem with vacant properties.
21 Mar 2022
Freddie Mac Names Wendell Chambliss as Chief Diversity & Inclusion Officer
Freddie Mac announced that Wendell Chambliss has been appointed senior vice president and chief diversity and inclusion officer.
21 Mar 2022
New York Law Provides Additional Criteria for Determining if a Property is Vacant or Abandoned
New York Senate Bill 7792 was signed into law by the Governor on March 18, 2022. The bill adds additional criteria to the current law under RPAPL 1307 for determining whether properties can be deemed vacant or abandoned.
18 Mar 2022
Detroit Land Bank Authority Expects its Remaining Structures to be Listed for Sale by 2023
The Detroit Land Bank Authority, an entity responsible for selling vacant homes and lots in the city, expects to sell most of its structures by the end of 2023.
17 Mar 2022
Fed Begins Inflation Hike with Key Rate Hike, More to Come
The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year.
16 Mar 2022
Louisville Looking to Revive Abandoned Homes, Neighborhoods through New State Law
A new state law in Kentucky gives Louisville community leaders a new tool to address abandoned properties in need of repair and renovation.
14 Mar 2022