California AG Requests “Good-Faith Pause” on GSE Foreclosures

Insistent that principal reductions are the best line of defense in loss mitigation, California Attorney General Kamala Harris is calling on Fannie Mae and Freddie Mac to halt foreclosures in her state while the Federal Housing Finance Agency (FHFA) considers whether principal reductions are an appropriate strategy for the GSEs. In a recent letter to … Continue reading California AG Requests “Good-Faith Pause” on GSE Foreclosures

Fannie Mae’s First Bulk Offering of REO-to-Rental Pilot Is Open for Bids

Fannie Mae has put a block of 2,490 REOs up for sale. It’s the first pilot transaction of the federal government’s Real-Estate Owned (REO) Initiative announced in August 2011, which aims to sell homes repossessed by government agencies to private investors for the purpose of turning the properties into rental units. The properties are concentrated … Continue reading Fannie Mae’s First Bulk Offering of REO-to-Rental Pilot Is Open for Bids

Housing Fix: Minority Group Unveils $1.2 Billion Industry-Led Program

The National Association of Real Estate Brokers, Inc. (NAREB) announced the launch of a 25-city, $1.2 billion REO and foreclosure mitigation initiative called the Homeowner’s Assurance Program (HAP). The program is designed to address the devastating effects of foreclosures on communities across America. HAP is a non-governmental, industry-led solution to the nation’s housing crisis. NAREB … Continue reading Housing Fix: Minority Group Unveils $1.2 Billion Industry-Led Program

How NOT To Bid and Buy At Auction

With the increasing popularity of real estate auctions, we encourage potential buyers to do their homework prior to getting in the game. Auctions can be a fantastic way to get great deal if you know what you’re doing. Whether you are a Realtor®, an investor who has bought zillion of dollars in real estate or a first time home … Continue reading How NOT To Bid and Buy At Auction

Freddie to adopt new way of valuing foreclosed properties

Freddie Mac will use a new method of valuing REO acquired this year. The government-sponsored enterprise acquired 24,300 REO properties in the third quarter. It sold more than 25,000, and held an inventory of nearly 60,000 previously foreclosed homes. "We've struggled with REO valuation," said Tracy Mooney, senior vice president of single-family servicing at Freddie … Continue reading Freddie to adopt new way of valuing foreclosed properties

Chase donates 100 homes to military, wounded warriors

Mortgage lender Chase and nonprofit Operation Homefront will partner to place 100 wounded warriors, military members and veterans into Chase-owned homes. Operation Homefront is a nonprofit that provides aid to active military, wounded warriors and veterans. The new program — Homes on the Homefront — will provide transitional services for veterans and families chosen to … Continue reading Chase donates 100 homes to military, wounded warriors