Fannie, Freddie move Forward with Florida Foreclosures

Author:  //  Category: Mortgage

Fannie Mae and Freddie Mac have lifted their ban on selling foreclosed homes in Florida.

The two firms halted sales of foreclosures in September.

Revelations that servicers were signing key foreclosure documents without reading them or verifying the information was true, as required by law, prompted the suspension.

Fannie, Freddie move Forward with Florida Foreclosures

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More Improvement for COFI

Author:  //  Category: Mortgage

The 11th District Cost of Funds Index fell 1 basis point between September and October.

COFI

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Small Lender Expands into Arizona

Author:  //  Category: Mortgage

Seeing expanded opportunities for smaller banks in the evolving mortgage market, Heartland Financial today announced a significant expansion into the Arizona market by purchasing the residential mortgage arm of a defunct thrift in that state.

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Small Lender Expands into Arizona

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More Net Worth Revisions at Ginnie

Author:  //  Category: Mortgage

In February, Ginnie Mae issued a bulletin indicating that issuers of mortgage-backed securities and HMBS would be subject to a higher net worth requirement.

During October, the company issued another bulletin raising its minimum base net worth requirement to $2.5 million.

Now Ginnie has disclosed new net worth requrements for multifamily issuers.

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More Net Worth Revisions at Ginnie

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Mortgage Firm Survives Failure of Bank Parent

Author:  //  Category: Mortgage

In October 2009, National Residential Mortgage was launched as a subsidiary of First Arizona Savings FSB.

But First Arizona failed on Oct. 22.

However, National Residential has emerged as part of Heartland Financial USA Inc., according to a news release.

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Mortgage Firm Survives Failure of Bank Parent

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FHA to Lose Market Share in November

Author:  //  Category: Mortgage

Business likely slowed in November for private mortgage insurers, as new applications fell 3 percent in October from September, based on data reported by the Mortgage Insurance Companies of America.

But the Federal Housing Administration received 31 percent fewer applications in November.

The bigger decline suggests changes in market share might favor private mortgage insurers during November.

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FHA to Lose Market Share in November

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Home Prices Decline in 3rd Quarter

Author:  //  Category: Mortgage

U.S. home prices fell in the third quarter of the year, as the housing market cooled off following the end of the homebuyer tax credit, according to two major reports released today.

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Home Prices Decline in 3rd Quarter

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Loans Tumble at FHLBs

Author:  //  Category: Mortgage

Total loans to member banks of the Federal Home Loan Bank system dropped nearly 21 percent from Sept. 30, 2009, to Sept. 30 of this year, according to the Federal Housing Finance Agency.

Total loans were at an all-time high as of Sept. 30. 2008.

Since peaking in 2008, total loans to FHLB members have fallen by nearly half.

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Loans Tumble at FHLBs

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Foreclosure Attorney Tactics

Author:  //  Category: Mortgage

Lawyers for delinquent borrowers say national publicity about “robo-signing” is working to their advantage.

For homeowners with regular income, a Chapter 13 bankruptcy sometimes works.

Lawyers also might claim errors in the Truth-in-Lending Act form.

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Foreclosure Attorney Tactics

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MBS Litigation Ledger

Author:  //  Category: Mortgage

JPMorgan Chase and affiliates, Bear Stearns and affiliates and Washington Mutual and affiliates have been named as defendants in multiple lawsuits in their various roles as issuers, sponsors or underwriters in MBS offerings, a filing with the Securities and Exchange Commission by JPMorgan Chase &

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