Category: News and Trends

Fannie Mae, Washington, D.C., appointed Hugh R. Frater as Interim CEO, effective October 16, subject to final Federal Housing Finance Agency approval. He will succeed Timothy J. Mayopoulos, who announced his intention to depart in July and will leave the company on October 15.

Black Knight, Jacksonville, Fla., said nearly 500,000 mortgaged properties sit in the 34 counties in North and South Carolina declared as disaster areas resulting from Hurricane Florence.

Homes that were foreclosed on during the housing crisis are now rising in value by more than 10 percent annually, more than 3.5 percentage points faster than the typical U.S. home, said Zillow, Seattle.

The Federal Housing Finance Agency requested public input as part of the Agency’s consideration of proposed modifications to Fannie Mae and Freddie Mac’s 2018-2020 Underserved Markets Plans under the Duty to Serve program.

The commercial mortgage-backed securities delinquency rate dropped “markedly” once again in September, reported Trepp, New York.

Striking the “delicate balance” between customer experience and fraud prevention is not an easy feat, a series of studies by Forrester Consulting and TransUnion reported.

In the wake of major natural disasters this summer, the risk of mortgage loan application fraud increased in August, said First American Financial Corp., Irvine, Calif.

LOS ANGELES–Three risk management executives: Debra Dunn, Chief Operating Officer with SWBC Mortgage, San Antonio, Texas; Gwen Muse-Evans, President and CEO of GME Enterprises, Bethesda, Md.; and Terry L. Schmidt, CMB, Executive Vice President and CFO of Guild Mortgage Co., San Diego; offered their perspectives on risk management and fraud issueshere at the recent Mortgage Bankers Association’s Risk Management, Quality Assurance and Fraud Prevention Forum.

CoreLogic, Irvine, Calif., said its revised estimates of damage resulting Hurricane Florence puts residential and commercial flood and wind losses at $20-30 billion, with 85 percent of residential losses uninsured.

The House yesterday passed a bill that closes a loophole for thousands of loans made to veterans that fell through a crack in securitization.