Federal Incentives Coming for Short Sales, Deeds-in-Lieu

Fannie, Freddie align servicing guidelines for delinquent mortgages Colorado AG indicts family for mortgage-fraud scheme BofA close to beating DOJ $850M RMBS fraud suit fha raises mortgage insurance, for life of loan As you can see, whenever the LTV is greater than 90% (meaning the borrower makes a down payment below 10%), FHA annual mortgage insurance is required for the life of the loan. This is true for all purchase loans regardless of the length of the term, as indicated in the first column of the table.The U.S. government on Tuesday filed two civil lawsuits against Bank of America that accuse the bank of investor fraud in its sale of $850 million of residential mortgage-backed securities.Ally Financial earnings tumble 76% from sour mortgages MFA Financial, Inc., a real estate investment trust (REIT), invests in residential agency and non-agency mortgage-backed securities (MBS). Its MBS are secured by hybrid mortgages, adjustable-rate mortgages, and 15-year and longer term fixed-rate mortgages, as well as by mortgages that have interest rates that reset more frequently.Colorado AG indicts family for mortgage-fraud scheme federal grand jury indicts Five in $9 Million Mortgage Fraud. – DALLAS-A federal grand jury returned an eight-count indictment this week charging five individuals with various offenses related to their operation of a mortgage fraud conspiracy in the dallas-fort worth (dfw) area, announced U.Fannie mae/freddie mac servicing guidelines. 66. 4. that defaulted loans are referred to foreclosure with factory-like precision.6 This.. The use of first-loss positions to align incentives ceases to be effective,FHFA reaches $280 million RMBS settlement with Barclays The settlement with Royal Bank of Scotland was the 17th agreement reached by the agency. The 18 banks included two other British banks, Barclays and HSBC. They agreed to pay $280 million and $550.

Short Sales and Deeds in Lieu of Foreclosure If you can’t afford to keep your house, a short sale or deed in lieu might be a good option. Short Sales vs. Deeds in Lieu of Foreclosure

king Home Affordable program (MHA) is once again adding to its stable of incentives, this time encouraging lenders and servicers to explore short sales and deeds-in-lieu of foreclosures as well as restructuring the compensation rate for modifications on loans in areas where home values have seen the steepest declines.

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In short sale your lender allows you to sell your house at a price which is less than the amount of mortgages that you still owe. Again, in case of deed in lieu of foreclosure, your deed the property to the mortgage lender under the condition that all your outstanding mortgages will be forgiven.

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 · New short-sale push may speed up bank loan losses By. Short sales and deeds in lieu can be cheaper than foreclosure.. If the holder of the second mortgage gets an incentive payment from HAFA.

GSEs release guidance on HARP changes FHFA considers changes to HARP. September 19, 2011.. GSEs release guidance on HARP changes. Jon Prior was a reporter with HousingWire through late 2012. Recent Articles by Jon Prior.Bank of America Puts Short Sales Ahead of REO Showing its age, the long bull market cycle of excess stock and bond returns is expected to finally wind down next year, but not before one last hurrah, according to BofA Merrill Lynch Global Research, which today issued its outlook for the global markets and economy in 2019.Treasury to pay investors triple for HAMP principal reductions HAMP Principal Reduction Activity Servicers of non -GSE loans are required to evaluate the benefit of principal reduction under the HAMP Principal Reduction Alternative (PRA) for mortgages with a loan-to-value (LTV) ratio greater than 115% when evaluating a homeowner for a HAMP first lien modification.

Washington, DC – The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to develop enhanced and aligned strategies for facilitating short sales, deeds-in- lieu and deeds-for-lease in order to help more homeowners avoid foreclosure. The effort will come in stages with the first taking place this June.

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Even when a borrower secures an offer and presents it to the bank, the lender may reject it as too low and require the borrower to find a higher offer. If a sale price can be agreed on, a lender may prefer the short sale to a deed in lieu because banks prefer cash (from the short sale) rather than real property (from a deed in lieu foreclosure).