GSEs Making Push to Clear NPLs From Portfolios, Help Borrowers With Loss Mitigation

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: avoiding foreclosure Fannie Mae Freddie Mac Loss Mitigation Non-Performing Mortgage Loans With Fannie Mae’s announcement on Thursday that it is going to begin selling pools of non-performing single-family mortgage loans, it is clear that the GSEs are making a strong push to rid themselves of the backlog of deeply delinquent loans on their books five years after the peak of the foreclosure wave.The Federal Housing Finance Agency (FHFA), which has been the conservator of Fannie Mae and Freddie Mac since September 2008, wants the two GSEs to clear out non-performing loans from their portfolios. Freddie Mac has conducted three sales of NPLs totaling $1.97 billion in unpaid principal balance in the last eight months, while Fannie Mae’s next such sale will be its first. It will likely not be the last, though; Fannie Mae’s SVP for Credit Portfolio Management, Joy Cianci, said the GSE is intent on “building these sales into a regular, programmatic offering to the market.”The two GSEs are not merely trying to excise these loans from their books, however – many of the loans are two years or even three years delinquent, meaning the borrowers who occupy the homes in those cases are in some stage of mitigation or are in foreclosure. The FHFA wants to help borrowers in these cases avoid foreclosure at all costs; in early March, FHFA issued enhanced requirements for the buyers and servicers of Agency non-performing loans that call for bidders to identify servicing partners at the time of qualification and complete a questionnaire to demonstrate a record of successful loan resolution through foreclosure alternatives.Also as part of the enhanced requirements, servicers who purchase non-performing Agency loans must apply a “waterfall of resolution tactics” before resorting to foreclosure and report loan resolution results and borrower outcomes to Fannie Mae and Freddie Mac for four years after the NPL sale.”These transactions are intended to reduce the number of seriously delinquent loans that Fannie Mae owns, to help stabilize neighborhoods, and to offer borrowers access to additional foreclosure prevention options,” Cianci said.According to the FHFA’s most recent foreclosure prevention report issued in late March, Fannie Mae and Freddie Mac completed 307,200 foreclosure prevention actions combined in 2014 and have completed 3.4 million such actions since the conservatorship began in September 2008. Foreclosure prevention actions include home retention actions such as permanent loan modifications, repayment plans, and forbearance plans as well as home forfeiture actions such as short sales and deeds-in-lieu of foreclosure.Freddie Mac’s most recent NPL sale occurred on March 25, when it sold 5,398 deeply delinquent loans in three pools with a combined $985 million in UPB. It was Freddie Mac’s largest NPL sale ever; the previous two sales were in February for $392 million and in August 2014 for $596 million. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago avoiding foreclosure Fannie Mae Freddie Mac Loss Mitigation Non-Performing Mortgage Loans 2015-04-06 Brian Honea GSEs Making Push to Clear NPLs From Portfolios, Help Borrowers With Loss Mitigation Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / GSEs Making Push to Clear NPLs From Portfolios, Help Borrowers With Loss Mitigation April 6, 2015 1,714 Views Previous: DS News Webcast: Monday 4/6/2015 Next: Freddie Mac Announces STACR’s Inaugural Actual Loss Transaction Share Save in Daily Dose, Featured, News, Secondary Market Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe  Print This Post About Author: Brian Honea Demand Propels Home Prices Upward 2 days agolast_img read more

Cops release video of suspect in 71-year-old’s murder

first_imgiStock/Thinkstock(SANDY SPRINGS, Ga.) — Police in Georgia have released surveillance video of the suspect in the murder of a 71-year-old woman as the victim’s family pleads with the public to help catch the killer.Kay Thomasson was stabbed in the neck at her Sandy Springs home early on June 27, according to the Sandy Springs police.After the murder, the suspect stole the victim’s car, which was later found in an apartment complex in Chamblee, Georgia, police said.On Monday, police released surveillance video taken from outside Thomasson’s home that they say shows the suspect walking by.Thomasson’s children accompanied police at a news conference on Monday in which the video was shown to the public.“Our mom was such a loving member of this community for over 40 years,” Thomasson’s daughter, Katie Gryglas, told reporters as she held her mother’s photo, overcome with emotion. “We know this is a community that takes care of their neighbors.”“She would have done anything for anybody,” she continued. “So please, if you know anything, come forward.”“We have been working tirelessly on this case,” police said, adding that they hope someone will recognize the suspect’s gait or clothing.Police have not released a motive.A reward for information leading to the arrest of the suspect has reached $100,000.Anyone with information is asked to call Detective JT Williams at 770-551-6937.ABC News’ Ben Stein contributed to this report.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Frustrated homicide suspect falls

first_imgILOILO City – Charged with frustratedhomicide, a man was apprehended in Bonifacio Drive, Barangay Danao, CityProper. Police served the warrant issued by JudgeNorberto Teves of the Regional Trial Court Branch 25. Amorsolo was caught on the strength ofan arrest warrant on Tuesday, it added. He was identified him as EusraqiuoAmorsolo, a police report showed. The suspect was detained in the lockupfacility of Police Station 1./PNlast_img

Walcott wants to be Arsenal legend

first_imgTheo Walcott insists he wants to stay at Arsenal and become as big a legend there as Thierry Henry.Gunners winger Walcott denied his delay in signing a new contract had anything to do with money but admitted agreeing a deal could be a “slow process”.Manager Arsene Wenger warned last week the club may be forced to sell Walcott – something they appeared close to doing this summer – if an agreement could not be reached before the transfer window reopens.It has been suggested Walcott is seeking assurances of more playing time, especially up front.Wenger converted Henry from a winger to Arsenal’s all-time leading goalscorer and Walcott, who inherited the Frenchman’s number 14 jersey, told ESPN on Monday: “I want to be an Arsenal legend. Thierry joined the club when he was 22 and I want to become an Arsenal legend like him, playing up front as well, which is a big factor for me.“I’ve played on the right wing and had the opportunity to play up front a bit more so I think it’s about time.” Talks over extending the 23-year-old’s contract, which expires at the end of the season, reached crisis point last month when he rejected a new five-year deal worth £75,000 a week.It was reported Walcott was holding out for £100,000 a week, but he said: “That speculation on the money side of it has never been me. That’s not me. I’m not the sort of person who’s influenced by money. I always make my decisions based on football and only football.“Hopefully, something can be sorted out. I’ll just wait for the club to get back to us now and go from there.”He added: “It’s a slow process. My last contract took over six months to happen. Hopefully, it can be sorted out. I’ve never said I wanted to go, I’ve always wanted to stay.”However, the England star refused to rule out leaving Arsenal completely. “It’s one of those things that happens in the game,” he said.“If it comes to it, if the club had to sell me, I’d be disappointed but, like I said, hopefully something can be sorted.”last_img read more

WI vs Ind 1st Test Day 1 Review: Rahane’s rescue deny Windies a blazing…

first_imgImage Courtesy: India TVAdvertisement 9sNBA Finals | Brooklyn Vs3qvdpWingsuit rodeo📽Sindre Echkk5l1( IG: @_aubreyfisher @imraino ) b7uk2Would you ever consider trying this?😱tsmpneCan your students do this? 🌚8necyRoller skating! Powered by Firework West Indies and India kicked off their World Test Championship campaign in Antigua. The hosts were on top by rattling the Indian top order before Ajinkya Rahane came to the rescue, to even the honours.Advertisement Image Courtesy: India TVOpting to omit Ravichandran Ashwin, Rohit Sharma, and Wridhimann Saha, India had to bat first after the West Indies won the toss and elected to bowl first.The opening partnership between KL Rahul and Mayank Agarwal did not last long as the latter fell to Kemar Roach. The speedster struck again to remove Cheteshwar Pujara as well before Shannon Gabriel got the better of Virat Kohli with some extra bounce to sweep out the famed Indian top order.Advertisement Ajinkya Rahane and KL Rahul saw out the rest of the session. Rahul, however, fell short of his fifty to give Roston Chase his only wicket so far. Hanuma Vihari stuck alongside Rahane to stabilize the innings through an 81-run stand for the fifth wicket. Vihari fell soon after scoring 32 while Rahane followed suit 5 overs later for a well made 81.The third session was cut short as a result of rain and at stumps, India are 203-6 with Rishabh Pant and Ravindra Jadeja out in the middle.Advertisement Read Also:Shubman Gill reveals how Rahul Dravid changed his careerVirender Sehwag reckons Virat Kohli will outdo all of Sachin’s records except one Advertisementlast_img read more

Should the Raiders draft an offensive skill player early?

first_imgJon Gruden has made it clear he’s striving to be like the Kansas City Chiefs, on offense at least, and this draft offers the Raiders a chance to begin closing the monumental gap between these two teams.Yes, the Raiders need more help on defense than offense, but with four picks among the first 35, general manager Mike Mayock and Gruden can afford to bolster their offense early.But should those reinforcements come at skill positions, say, in the form of a future featured running back or a slot …last_img

Play Your Part fulfils Mandela Day promise to children’s home

first_imgBrand South Africa delivers on its promise to donate plants to a Midrand children’s home.Eight years after the launch of Mandela day, it has gained momentum, with worldwide support from citizens of all races and ages, playing their part. (Image: supplied)During Nelson Mandela International Day activities on 18 July 2017 at the New Jerusalem Children’s Home, Brand South Africa committed to donating 150 Abelia Grandiflora plants to help renovate the garden.On 14 September 2017, the Play Your Part team made their way back to the home to surprise each child with a plant.“We are very happy that the Play Your Part team returned to surprise the children with these plants, we truly appreciate the support and we promise to look after the plants,” said the deputy principal Linah Ramonyai. “Our children love gardening and this is an added bonus to their daily activity.”Handing over the plants, Brand South Africa’s activations manager Rabia Metedad said Play Your Part was pleased to be reiterating its objective to play its part on a daily basis. “Today’s activation was to remind the little ones that we haven’t forgotten them and we encourage everyone to play their part.”Nelson Mandela International Day commemorates the lifetime of service Nelson Mandela gave to South Africa and the world. It is held on his birthday every year, with worldwide support from people of all races and ages playing their part.Part of the Nelson Mandela International Day’s promise is to remind every citizen that no matter how small your action, you can change the world for the better, just as Nelson Mandela did.“Do whatever it is you can, no matter how small even just spending time with the children is enough because it shows them that they are loved,” said Ramonyai.Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

George Voinovich dies at 79

first_imgShare Facebook Twitter Google + LinkedIn Pinterest George Voinovich, former Ohio Governor and U.S. Senator, died in his sleep at the age of 79 on June 12.Voinovich was known as a true friend of Ohio agriculture and was a regular attender and promoter of the Ohio State Fair and his home state.“George was the long-time mayor of Cleveland — a city kid, but he loved the Ohio State Fair! He loved being with the 4-H kids, working the bidders at the Sale of Champions, staying overnight with a farm family, and being a part of Ohio’s great agriculture community. After he left the Governor’s Office, he would continue to come to the Ohio State Fair with grandkids every summer. He was so proud of the Voinovich Livestock and Trade Center on the Fairgrounds,” said Mike DeWine, Ohio Attorney General who served as Voinovich’s Lt. Governor. “George took great pride in sharing Ohio’s unique places with others.  He had a passion for promoting Ohio tourism — from the banks of the Ohio River to the shores of Lake Erie.  He loved our state.”The current Ohio Governor recalled the leadership of Voinovich.“He was a unifier who thought outside the box, never gave up and worked hard for the ideas he believed in up until the very end of his life. Thanks to that leadership he saved Cleveland, governed Ohio compassionately and responsibly and was a candid voice for reason in the U.S. Senate.  I am proud to have known him and grateful for what he did for our state and nation,” said Gov. John Kasich. “To his wife Janet, his children and his many grandchildren, my family sends our condolences and heartfelt prayers at this difficult time, and on behalf of Ohio I send my gratitude for sharing this wonderful, dynamic man with us for so many years.”last_img read more

Neymar approved Tuchels decision to punish Mbappé

first_imgWhen asked if he was okay with Thomas Tuchel’s decision to punish Kylian Mbappé, Brazilian Neymar shockingly approved of it after the match.We discussed how last Sunday, Kylian Mbappé was reprimanded by manager Thomas Tuchel for arriving late to the match against Marseille and Neymar’s reaction after the game was quite surprising.Contrary to what some people may think about Neymar’s life outside of the pitch, the Brazilian is a very disciplined player when it comes to fulfilling his responsibilities as the PSG star and he applauded Tuchel’s decision to punish both Mbappé and Rabiot for the same reason.This reaction might come as a surprise for the French youngster, who is a very good friend of Neymar and he possibly didn’t expect this statement from one of his biggest supporters inside the club.When asked about the manager’s surprising decision to leave both players out of the starting eleven in a crucial match like last Sunday’s against Marseille, Neymar surprised everyone by telling the press that: “This is a matter between the manager and the players,” said Neymar to the press via Diario Sport.“But I do think that they must respect the schedules, and they failed all of us in that part. They know that they need to be responsible because they are great players, both of them are very important for the club and people suffer if they are not present.”PSG, Neymar, Ligue 1PSG ultras sent a warning letter to Neymar Manuel R. Medina – September 14, 2019 Brazilian superstar Neymar might play today his first game of the season for Paris Saint-Germain and the team’s ultras have warned him.“But I repeat, this is an internal matter. After everything happened, Kylian got in and solved the match for us,” he concluded.🆕🎥@Dugout @KMbappe’s mad dash, @neymarjr’s dribbling 😱👉 See more: https://t.co/bj4GHsCQG4🔴🔵 #AllezParis pic.twitter.com/i1TgaFyVJA— Paris Saint-Germain (@PSG_English) October 29, 2018last_img read more