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Foreclosure filings dropped in November. Is market pressure finally easing up?

Housing Wire

Attom considered homes in default, auction and real estate-owned (REO) status along with foreclosures that were actually completed. Attom CEO Rob Barber urged the mortgage industry to remain vigilant and described the decline as a common seasonal occurrence. “The slight decline in U.S.

Marketing 370
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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. The FHA is currently accepting industry feedback on the proposed rule, but the concept got us thinking. Lunch & Learn: Should there be a 40 year mortgage?

Loans 448
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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 448
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FHFA extends foreclosure and eviction moratorium to Jan. 31

Housing Wire

However, the extension also applies to real estate owned (REO) evictions, which are properties that have been acquired by an enterprise through foreclosure or deed-in-lieu of foreclosure transactions. “This extension gives peace of mind to the more than 28 million homeowners with an Enterprise-backed mortgage,” said Calabria.

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FHA adds 40-year loan term to COVID-19 arsenal

Housing Wire

In addition to benefitting borrowers, the HUD hopes the rule would reduce losses to FHA’s Mutual Mortgage Insurance Fund as fewer properties would be sold at a loss in foreclosure or out of FHA’s real estate owned inventory. Comments from the mortgage industry are due by May 31.

Loans 508
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FHFA prevention actions surpassed 52K in Q4 2022

Housing Wire

in Q4, the Department of Veterans Affairs (VA) loans rate was at 2.43%, and at 1.89% for all loans based on the industry average. The GSEs’ real estate-owned (REO) inventory increased 7% from 10,251 in Q3 to 10,997 in Q4 due to REO acquisitions outpacing property dispositions.

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FHA publishes final rule on the 40-year loan modification

Housing Wire

Department of Housing and Urban Development ( HUD ) added that it would reduce losses to the FHA’s Mutual Mortgage Insurance (MMI) Fund, as fewer properties would be sold out of the FHA’s real estate owned inventory or at a loss due to foreclosure.

Loans 370