Mortgage Lending News     Click to continue . . .

  •   Safeguard Properties Promotes Five Staffers to New Positions
Five team members of Safeguard Properties were recently promoted to newly-created positions within the company. These new positions are part of an organizational restructuring to better serve clients and accommodate Safeguard's current and anticipated growth, the company said.
DSNews.com,Admin,   03/13/2010

  •   February loan mod data report finds permanent mods increased by 45 percent
The U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) have released February data for the Administration`s Home Affordable Modification Program (HAMP). As of the end of the month, more than one million borrowers were receiving a median savings of $500 each month, a 36 percent median monthly payment decrease. Permanent modifications have been granted to 170,000 homeowners and an additional 91,800 permanent modifications have been approved by servicers and are pending only borrower acceptance. Highlights of the report include:
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   Wells Fargo surpasses 500,000 loan mod mark
Wells Fargo & Company is reporting that as of Feb. 28, the company had 505,832 active trial and completed modifications through its own modification programs and the federal Home Affordable Modification Program (HAMP). More than 365,000 of those were non-HAMP active trials in place as of the end of February 2010 and modifications completed since the beginning of 2009. Wells Fargo had 139,065 HAMP active trial and completed modifications in place as of Feb. 28, including 24,975 permanent modifications and 7,533 permanent modifications pending completion.
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   Federal Watchdog Questions Treasury`s Actions to Preserve GMAC
The Congressional Oversight Panel (COP) recently released a report finding that throughout the federal bailout of GMAC, "Treasury missed opportunities to increase accountability and better protect taxpayers' money." Moving forward, the COP said Treasury should clearly articulate its exit strategy from GMAC.
DSNews.com,Admin,   03/12/2010

  •   Fitch Sees Greater Stability for RMBS...When Drought Ends
More traditionally underwritten and higher credit quality loans will be the norm when the U.S. residential mortgage-backed securities (RMBS) market for newly-originated loans re-opens, according to Fitch Ratings. The agency says investors can expect better performance because lenders are returning to a more traditional style of lending, with loans containing better credit, full documentation, and less leverage.
DSNews.com,Admin,   03/12/2010

  •   Surveys Debunk Appraisal Industry Misconceptions
A new survey conducted by the Title/Appraisal Vendor Management Association (TAVMA) and the annual appraisal industry survey from Coester Appraisal Group shed light on what is really happening in the appraisal industry.
DSNews.com,Admin,   03/12/2010