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A transparent foreclosure marketplace reveals hidden equity

Housing Wire

billion in potential home equity has been uncovered for distressed homeowners facing foreclosure. A foreclosure sale usually represents the last chance for a distressed homeowner to benefit from any equity in a property being foreclosed,” said Ali Haralson , Auction.com president. “If Over the past five years, more than $1.2

Equity 459
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Property services company MCS enters reverse mortgage space

Housing Wire

Lewisville, Texas-based property services company MCS announced last week that it acquired Five Brothers Asset Management Solutions , a deal which brings MCS into the reverse mortgage industry for the first time, according to an announcement by the company. Five Brothers, headquartered in Warren, Mich.,

Mortgages 447
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FHFA extends forbearance policies for up to 15 months

Housing Wire

Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to three months, the Federal Housing Finance Agency announced Tuesday. ” What role can mortgage brokers play in fair housing? For the third month in a row, the Mortgage Bankers Association estimated 2.7

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Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans

Housing Wire

The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. mortgage finance system. mortgage finance system.

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Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. Leslie Rouda Smith, president of the NAR, used her own letter to the FHA to explain the trade group has been “concerned” about the pandemic’s impact on the housing market.

Loans 448
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Housing Tech Rundown: Quantarium, Equifax and Ellie Mae

Housing Wire

Artificial Intelligence company Quantarium announced on Thursday its partnership with Valligent Technologies to launch a condition adjusted “Quantarium Valuation Model” for equity lending, broker price opinions and real estate owned valuations.

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In Q1 earnings, Longbridge parent expects reverse mortgage market to improve

Housing Wire

Ellington Financial , the parent company of top-five reverse mortgage lender and servicer Longbridge Financial , reported that its reverse mortgage segment’s adjusted distributable earnings were lower in the first quarter of 2024 than they were in the previous quarter. Ellington chief financial officer J.R.

Mortgages 243