A new report said 43 percent of U.S. homes, with an estimated of market value of $6.6 trillion, are in counties with “high” or “very high” natural hazard risk.
Category: News and Trends
Fitch: Operational Enhancements Reducing Fraud Risk in U.S. Mortgages
Fitch Ratings, New York, said widespread changes to U.S. residential mortgage origination practices since the financial crisis have reduced the risk of fraud and misrepresentation.
Moody’s: CMBS Loss Severities Climbs
Commercial mortgage-backed securities’ loss severities bounced back to late-2014 levels in the second quarter, reported Moody’s, New York.
FHFA: HARP Refinances Remain Steady Through Second Quarter
The Federal Housing Finance Agency said loans refinanced through the Home Affordable Refinance Program in the second quarter fell only slightly from the first quarter.
HOPE NOW: 411,000 Workout Plans in 2Q
HOPE NOW reported mortgage lenders and servicers completed 411,000 non-foreclosure workout plans for homeowners during the second quarter, reflecting a continued slowdown in workout activity.
MBA Letter: CFPB Complaint Database ‘Misleads Consumers’
The Mortgage Bankers Association, in a letter to the Consumer Financial Protection Bureau, reiterated its strong objections to the current structure of the Bureau’s Consumer Complaint Database and offered several recommendations to improve the Database.
Clear Capital: ‘Distressed Saturation’ Rates Rise
Clear Capital, Reno, Nev., said nationwide, quarterly distressed saturation–the percentage of real estate owned and short sales to all sales–increased by 0.7 percent in August, from 15.4 percent to 16.1 percent.
FHFA: GSEs Assist 4.3 Million Homeowners Since Conservatorships
The Federal Housing Finance Agency yesterday reported Fannie Mae and Freddie Mac completed 41,062 foreclosure prevention actions in the fourth quarter, bringing the total number of foreclosure prevention actions to 4.283 million since September 2008.