Fannie Mae Offers Subsidy for REO Purchases
Fannie Mae Offers Subsidy for REO Purchases
Jan. 29, 2010 — DSNews
Fannie Mae says it will cover the closing costs on purchases of its REO homes – an incentive the GSE hopes will help it pare down a bloated supply of repossessed foreclosed properties.
What foreclosure mediation could look like for homeowners
Feb. 1, 2010 — The Baltimore Sun
Gov. Martin O'Malley wants to make mediation a part of the foreclosure process in Maryland, offering it as one way to avoid more avoidable trips to the auction block. Mediation has popped up in other states, but not in the same way everywhere. So what's the plan here?
Freddie Mac Teams with Nonprofits on Borrower Outreach Pilot
Jan. 29, 2010 — DSNews
Freddie Mac and 13 national and local nonprofit organizations have launched a pilot effort aimed at convincing discouraged delinquent borrowers to pursue mortgage workouts to save their homes from foreclosure.
California Department of Real Estate Revokes Record Number of Real Estate Licenses
Jan. 29, 2010 — BusinessWire
SACRAMENTO, Calif.— The California State Department of Real Estate (DRE), the state department that issues licenses to real estate professionals and protects consumers in real estate transactions, revoked a record number of real estate licenses for cause in 2009. The DRE also accepted another record number of license surrenders from licensees facing disciplinary action. All told, over 775 licensees had their license revoked or simply surrendered their licenses while facing accusations.
2009 Mortgage Fraud Index Jumps
Feb. 1, 2010 — PR Newswire
DALLAS, Feb. 1 /PRNewswire/ -- The number of mortgage fraud cases increased last year, though the dollar amount held steady, according to MortgageDaily.com's fourth-quarter 2009 mortgage fraud index. Activity was worst in Florida and Nevada.