Posted in Mortgage Insurance, Mortgage Repurchase The U.S. Department of Housing and Urban Development recently announced that it is accepting applications for investors interested in buying distressed residential mortgage loans formerly insured by the FHA, focusing on mortgages in Chicago, IL, Newark, NJ, Phoenix, AZ, and Tampa, FL. The Distressed Asset Stabilization Program is an expansion of an FHA disposition program… Continue Reading
Posted in Mortgage Insurance, Mortgage Repurchase Declining Delinquency Rates According to a report, released May 16th from the Mortgage Bankers Association (“MBA“), the U.S. mortgage delinquency rate declined in the first quarter of 2012 to the lowest level since 2008. Specifically, the delinquency rate for residential mortgage loans decreased to a seasonally adjusted rate of 7.40 percent as of the end… Continue Reading
As described on TheNicheReport.com last week, the rising number of allegedly flawed mortgage loans sold to Fannie Mae by Bank of America has created a rift between these two behemoths, each of which was bailed out by the U.S. government when the American real estate bubble burst. Now, Fannie Mae is pressuring lender Bank of America to cover… Continue Reading