SARs: More than a Report

DALLAS–Not only is cooperating with federal law agencies on mortgage fraud issues a good business practice-it’s also the law.

MBA Launches ‘Know Before You Owe’ Resources for Consumers, Lenders

The Mortgage Bankers Association launched a set of resource guidelines to educate both consumers and lenders and their business partners needing to comply with the new Know Before You Owe or TILA/RESPA Integrated Disclosure regulations that go into effect on Oct. 3.

Zillow: Lower-Value Homes Emerging from Negative Equity

Zillow Inc., Seattle, said home values in the bottom third of the market helped pull more homeowners out of negative equity in the second quarter, with condos more likely than houses to be underwater. 

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.

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.