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FHFA extends forbearance period to 18 months

Housing Wire

Alongside its forbearance announcement, the FHFA also said the GSEs will be extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions through June 30, 2021 – three months past the previous deadline set for Mar. The new date matches the moratorium set by HUD for FHA and USDA loans.

Mortgages 523
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Radian’s Pyramid Platform automates every step of the real estate process

Housing Wire

As the real estate industry braces for the end of forbearance moratoriums, housing experts are anticipating an increase in foreclosures and REO activity. In preparation for that influx, asset managers, servicers and investors need to ensure they have the tools and technology to successfully navigate this unpredictable time.

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Opinion: Brokers should consider a new model for post-Burnett world

Housing Wire

But what about the case of the transaction in which a bank-owned or real estate-owned property (REO) is being sold? Consider, for example, the growing requirement of “First-Look” programs, which, in essence, prohibit investors from bidding on REO properties for the first 30 days.

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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

Instead, investors bought the run-down properties in bulk sales. After the housing crisis, the GSE’s portfolio of foreclosed, or “Real Estate Owned” properties ballooned. Photographs show boarded up windows, tall grass, and trash-littered yards, which Rice said deterred owner occupants from buying the properties.

Equity 397
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Opinion: 5 policy changes that can improve housing affordability

Housing Wire

Require government-owned homes to be sold to non-profits or owners who will live in them Foreclosures have been low in recent years, but in downcycles, foreclosed real estate owned by the federal government has been a more substantial percentage of the overall market.

Land 492
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How to price homes properly in a volatile housing market

Housing Wire

We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year.

Marketing 397
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A transparent foreclosure marketplace reveals hidden equity

Housing Wire

If a property reverts back to the foreclosing lender at the foreclosure sale and becomes real estate owned (REO), the distressed homeowner is not due any surplus proceeds from a subsequent sale of the REO property.”. So short sales are a really critical resolution, and certainly preferable to any type of foreclosure, REO, etc.

Equity 459