Wolters Kluwer Financial Services announced last week that Abdias Lira, a principal software architect with the company’s residential lending business, has been elected to the Mortgage Bankers Association’s MISMO Residential Governance Committee. Lira …
News
Lawmakers Say GSEs’ REO Rental Initiative Isn’t for California
Nineteen members of California’s congressional delegation want to keep Fannie Mae’s and Freddie Mac’s “for rent” signs outside their state’s borders. Led by Congressman Gary Miller, the group sent a letter to Edward DeMarco, acting director of the Fede…
Big Numbers Still Don’t Sway DeMarco Towards Principal Reduction
While arguments continue to be made that Fannie Mae and Freddie Mac should apply principal reductions to keep underwater borrowers from going into foreclosure, Edward DeMarco, FHFA acting director, still has plenty of ammo to defend his highly criticiz…
Clayton Holdings Approved as Due Diligence Firm
Clayton Holdings has been approved by DBRS as a third-party due diligence firm for residential mortgage-backed securities (RMBS) securitizations.
Based in New York, DBRS is a provider of credit rating opinions that offer insight and transparency ac…
New York Further Investigating Costs Behind Force-Placed Insurance
Penny by penny, the New York Department of Financial Services is uncovering the truth about force-placed insurance, and the department’s superintendent plans to hold public hearings in May to find out the reasons behind all of the extra fees. Superinte…
CFPB to Propose Rules for Servicers to Tackle Problems
The Consumer Financial Protection Bureau (CFPB) is looking to propose mortgage servicing rules to keep borrowers from costly surprises and prevent servicers from giving customers the runaround.
Lack of transparency and lack of accountability are the …
SIGTARP Announces Christy Romero as Inspector General
Christy L. Romero was sworn in as Special Inspector General of SIGTARP Monday. Romero was nominated by President Barack Obama on February 1, 2012 and confirmed by the U.S. Senate on March 29.
BofA Makes Changes to Trim Short Sale Timeline
Bank of America is making changes to its short sale procedures and introducing an improved task flow within the short sale technology module from Equator, BofA’s short sale management platform of choice. The goal: to reduce the timeframe for a short sa…
LPS Reports January Home Prices Down 0.9 Percent
Home prices for January 2012 dropped 0.9 percent, an even greater increase from the 0.4 percent drop in December 2011, according to Lender Processing Services’ Home Price Index (HPI). For January, home prices averaged at $195,000, dropping from Decembe…
Field Asset Services Launches Online Training Program
Austin, Texas based-Field Asset Services (FAS) launched FAS Vendor University, an online course designed to help FAS vendors learn how to manage their businesses and improve their operations. The program lasts for six-months and also incorporates hand…
