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Daily Dose

Fannie Mae to Auction Loan Bundle Worth $786 Million in First Bulk NPL Sale

Bidders must meet qualifications set forth by FHFA. 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, since many of the loans being sold in these portfolios are deeply delinquent – two years or more delinquent in some cases.

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Mortgage Credit Still Tight for Most Borrowers

The effects of the contemporary lending environment are rather significant. According to the institute, if the “cautious” credit standards of 2001 were in place in 2013, rather than that year’s “severe” standards, an additional 1.25 million loans would have been made in 2013.

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Fannie Mae Survey Shows Housing Sentiment Hurt By Lack of Income Growth

The optimism expressed by consumers toward the economy and the housing market at the beginning of the year has stalled as consumers' attitudes toward personal finances and wage growth have taken a step backward, according to Fannie Mae's March 2015 Housing Survey released Tuesday. Whereas February's survey showed that consumer optimism toward the economy was at an all-time high, March's survey painted a different picture.

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Report Says Loan Modification Programs Trigger Strategic Default

According to the authors, the implications of modification-induced strategic defaults are different between current and delinquent borrowers.” For loans current before a modification, defaults involve borrowers intentionally stopping payments in order to become eligible for mortgage modification.

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