Housing advocates: FHFA won’t reduce principal, offers discounted NPLs

“Because you are a valued customer, we want to help you stay in your home. Reduce your monthly payment of principal and interest and bring your loan current,” read the new solicitation from OneWest Bank. “We propose to permanently modify your mortgage, bring past-due payments current, and provide you with an affordable monthly payment.”

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remains strongly in favor of the NPL sell-off. One of the more convincing arguments is the fact the FHFA was never designed to be a major servicer and has a clear mandate from Congress to wind down the GSE investment portfolios. Stein with FHFA notes that the NPL sell-off deals include provisions that force servicers

First American Sees 1.7m in Shadow Inventory 9.8 Million Shadow Inventory Says Housing Market is a Long Way From the Bottom "Shadow inventory," the number of homes that are either in foreclosure or are likely to end up in foreclosure, creates substantial but hidden pressure on housing prices and potential losses to banks and investors.

While it is up to the Federal Housing Finance Agency, an independent regulator, to decide when to release Fannie Mae and Freddie Mac from conservatorship, the Treasury plan offers a start to the.

Initial jobless claims fall 2K to 291,000 for week Jobless claims stay below 300,000 as layoffs remain low. initial jobless claims fell by 2,000 to a seasonally adjusted 291,000 in the week ended Nov. 15, the Labor Department said Thursday. Claims from two weeks ago were revised up to 293,000 from 290,000. The number of people already getting beneifts, meanwhile, fell to a 14-year low.

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U.S. officials said the six-month nuclear agreement between the U.S. and Iran won’t interfere with the. on a committee dealing with housing matters, which supporters said made him an ideal.

National Mortgage Settlement: One Year Later When the national foreclosure settlement was signed in Feb. 2012, it was heralded as a great victory for consumers. Like many Maryland leaders, MCRC and other housing advocates believed at the time that the settlement between 49 state attorneys generals and five mortgage

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Few topics have sparked more debate among housing market watchers than mortgage principal reduction. Its proponents tout debt forgiveness as one of the surest ways to counteract the housing slump.

Mark Calabria, currently Vice President Mike Pence’s chief economist, is President Trump’s nominee to lead the Federal Housing Finance Agency. The FHFA is the chief regulator of mortgage.

Investments Housing advocates: FHFA won’t reduce principal, offers discounted npls auctions benefit Wall Street and hurt low-income communities