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Nearly 70% Want Housing Solutions from Candidates: Survey

Nearly three-quarters of Americans will look for positions on housing from presidential candidates for the 2012 election cycle, according to a recent survey. Move, Inc. released the findings in a survey that it facilitated in phone interviews with respondents in early October. According to the survey, some seven in 10 Americans, or roughly 70 percent, expect candidates for the presidency to address housing concerns. Of these, nearly 71 percent identified themselves as Millennials. About 82 percent called housing "critical" to the recovery.

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Freddie: Equity-to-Cash Conversions Lowest in 16 Years

Giving homeowners more reason to refinance their loans, third-quarter results show that a majority of borrowers who exchanged their fixed rates for today├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós low rates on first-lien mortgages either saved big on principal or kept their current payments. Of the 82 percent of borrowers who refinanced their first-lien mortgages, 37 percent of homeowners substantially reduced their principal balance by paying in. The GSE said 44 percent maintained their original monthly loan amounts by refinancing.

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FHFA Serves Related Cos. with Subpoena

New York developer Related Cos. has been served. The company received a subpoena from the inspector general of the Federal Housing Finance Agency, as part of its investigation into business transactions between the entity and Fannie Mae. In early 2011, Related entered into a joint venture with the GSE, and through the deal, Related gained an investment stake in multiple apartment properties that were in foreclosure via Fannie. Reports signal that the FHFA's legal pursuit is only after a portion of the transaction.

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RE/MAX Launches Global Real Estate Site

A new online initiative from RE/MAX turns the spotlight on global real estate markets from Brazil to New Zealand. The company just launched Global.Remax.Com, and the site will be the first web-based portal that gives consumers access to details on home listings in countries around the world.

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U.S. Lenders Wary Ahead of Euro Crisis: Survey

A third-quarter opinion survey for loan officers revealed that more financial institutions tightened their credit supply over fears that debt-ridden euro zone countries would tear apart the content├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós currency and expose U.S. banks to danger. The Federal Reserve polled senior loan officers from 51 U.S. banks and 22 branches for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós financial institutions at foreign branches for the October 2011 Senior Loan Officer Opinion Survey on Bank Lending Practices.

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CFPB Rule Would Warn Offenders Before Enforcement Action

A new rule proposed by the Consumer Financial Protection Bureau could mean the difference between clemency and punitive measures for firms and financial institutions, which would receive two weeks' notice and the chance to explain their purported infractions before the bureau takes action. The so-called Early Warning Notice, published by the bureau in the Federal Register, would supply firms and institutions with cause for enforcement action and allow their counsel to submit a written rebuttal in defense.

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GSEs Add New UCDP Platform Provider

Fannie Mae and Freddie Mac have selected a new integration platform provider, with the announcement that Solidifi U.S. will become one of the GSE's partners for their Uniform Collateral Data Portal (UCDP) module. Part of the Uniform Mortgage Data Program (UMDP), the UCDP acts as the sole portal for the submission of electronic appraisal information to the GSEs, and the technology initiative from Fannie and Freddie targets the enhancement of quality and consistency across all appraisal-related activities.

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LPS Names New VP of Investor Relations

A new head of investor relations has been announced at Lender Processing Services, with the appointment of Nancy Murphy to the leadership role. Formerly the director of investment relations for fashion retailer Stein Mart Inc., Murphy is returning to the financial industry, where she spent most of her career prior to joining the clothing company.

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Greek Turmoil, G-20 Decisions Target U.S. Lenders

Political trouble in Greece sent stocks and shares for major mortgage lenders tumbling Friday, even as the world's 20 wealthiest nations placed eight U.S. banks on a list that may require systemically risky institutions to shore up their capital reserves. The decision revealed the degree to which events overseas continue to shake U.S. mortgage lenders in an increasingly interdependent global economy, where international players fear the potential for a double-dip recession and ripple effects from systemically risky institutions.

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New Rule Would Streamline GSE Fraud Reports

Fraudsters and money-launderers may find it more difficult to move forward with their illicit activities if a new draft rule receives approval. Publishing a draft rule in the Federal Register Thursday, the Financial Crimes Enforcement Network proposed eliminating the Federal Housing Finance Agency as a middle-man in the reporting process for suspicious activity for GSEs Fannie Mae and Freddie Mac. The rule would require GSE officials to file suspicious activity reports with FinCEN itself.

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