This story appeared in Bank Digest.
Acting Federal Housing Finance Agency Director Edward J. DeMarco has sent two reports to Congress pursuant to requirements of the Housing and Economic Recovery Act, passed in July 2008. The reports discuss a number of topics, including mortgage risk, Fannie Mae’s and Freddie Mac’s housing goal performance, and key developments in the housing market. The first report, titled “Default Risk Evaluation in the Single-Family Mortgage Market,” evaluates recent research related to mortgage risk. The report discusses recent literature on underwriting standards, collateral valuation, loan securitization, mortgage modifications, and the effects of foreclosures on home values. The second report, the Annual Housing Report, was submitted pursuant to Section 1125 of the Housing and Economic Recovery Act of 2008.
Continue reading "FHFA Sends Two Reports to Congress on Mortgage Market" »
This story appeared in Bank Digest.
The Treasury Department has posted the following servicer participation agreements for the Home Affordable Modification Program (HAMP). These agreements are the first step servicers need to take to participate in HAMP for loans that are not owned, securitized or guaranteed by Fannie Mae or Freddie Mac.
Continue reading "HAMP Servicer Agreements Released" »