The lender must inform DU that Fannie Mae owns the existing mortgage using the Owner of Existing Mortgage field in the online loan application before submitting the loan to DU. Note : This requirement does not apply if the CLTV exceeds 95% only due to a Community Seconds loan.
Rep. Spencer Bachus, the top Republican on the Financial Services Committee, told a hometown crowd in Alabama today that he believes there are several socialists in the House. Actually, he says there.
Pending home sales rise for 15th straight month *The pending home sales index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
Below is an overview of the use of the Appraisal Update and/or Completion Report: Summary Appraisal update report (part A of the 1004D/442 Form) The Update Report may be used when an appraisal is due to expire before a loan closes and the lender does not want to order a new appraisal report.
Fannie plans DU system updates to correctly document pre-foreclosures; freddie mac and Florida foreclosure law firm part ways; March home sales increase in almost all metros: RE/MAX; City council to vote on Richmond eminent domain proposal
Fannie Mae has been made aware that there are often inconsistencies in the credit data when Deed in Lieu (DIL) and Pre-Foreclosure Sale (PFS) events occur, and in an effort to assist borrowers in obtaining a new loan in an appropriate timeframe, DU will be updated to disregard the foreclosure information on the credit report when instructed to do so by the lender on the online loan application.
Commercial mortgage-backed securities market at crossroads Commercial Mortgage Backed Securities: read the definition of Commercial Mortgage Backed Securities and 8,000+ other financial and investing terms in the NASDAQ.com Financial Glossary.
The objective of this performance audit was to assess FHFA’s oversight of Fannie Mae’s controls over borrower eligibility requirements applicable to its short sale program. What OIG Found A short sale of real estate occurs when the proceeds from a property sale fall short of the amount owed on mortgages secured by the property.
Congressional leaders reach a debt deal to avoid painful sequestration cuts Child Advocates call on Congress to Address Economic Issues around Jobs, Child Poverty, Hunger, and Homelessness. Washington D.C. – Today, as Congressional leaders and White House officials race to pass legislation to avoid a default on the national debt, the First Focus Campaign for Children reacts to the bipartisan compromise reached last night, specifying what the deal means for America.About 43% of Americans expect home prices to rise According to the survey’s results, the average 12-month home-price-change expectation held steady at 2.7%. The share of respondents who say mortgage rates will go up fell three percentage points to 43%, while those who say they will go down increased slightly to 7%.
Well, this last time I saw a brand of wine on the list that I remembered fondly from a wine tasting party many years ago. Being a "visual" person and not knowing how to pronounce the name correctly in French, I said "We’ll have a bottle of Clos du Bois" ("Kloss due boys" is how I said it).
Wells Fargo will not join BofA in foreclosure suspension Wells Fargo Home Mortgage is a large originator of home mortgages across the country. As a result, they also generally hold a significant portfolio of foreclosed properties in all states. Some homeowners that lose their property as a result of foreclosure to Wells Fargo will find that their home will directly be resold by Wells Fargo.