Mortgage Insurance Companies of America (MICA), an association of private mortgage insurers, reported Monday that since 2009, its members have insured $86.9 billion in mortgages modified or refinanced through the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) as well as in mortgages modified through other means. During the third quarter of 2012, the dollar volume of insurance written by MICA members reached nearly $11.6 billion, up 62 percent year-over-year.
Read More »New York AG Warns Wells Fargo to Rescind Loan Mod Delay Policy
New York Attorney General Eric T. Schneiderman accused Wells Fargo of using Hurricane Sandy to evade obligations under the national mortgage settlement.
Read More »Administration Reports Continued Housing Improvement
The state of the housing market continues to improve though recovery remains fragile, according to the October Housing Scorecard released Friday by the Obama administration. Along with the scorecard, the administration released special instructions for those administering the Making Home Affordable Program in areas affected by Hurricane Sandy. In areas directly impacted by Hurricane Sandy, servicers must offer at least three months forbearance to any homeowners eligible for Making Home Affordable who request forbearance.
Read More »Servicers Pick Up Pace on Loan Modifications in Q3
In Q3 2012, proprietary modifications stood at 186,057 compared to 161,764 in Q3 2011, representing a 15 percent annual gain.
Read More »California Monitor: Dual Tracking Complaints Increased After Settlement
In her first monthly report as California Monitor, Katherine Porter described the servicers' efforts to reform their practices before the October 2 deadline.
Read More »Radian Rewards Timely Mortgage Payments
Radian Guaranty, Inc., a private mortgage insurer and subsidiary of the Radian Group, announced it will reward current insured borrowers through the Responsible Homeowner Reward program, which is administered by Loan Value Group LLC, a company founded in 2008 to provide borrower incentives to protect investors and servicers.
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