Fannie Mae and Freddie Mac have agreed to “single track” delinquent borrowers for at least 120 days before servicers begin foreclosure processing under new loss mitigation guidelines sanctioned by the GSE regulator.
The Realtors’ leading indicator of future home sales jumped 5.1% in March — signaling a possible uptick in sales for April and May.
Chase plans to hire anywhere from 500 to 1000 mortgage servicing employees once its new office space in Gahanna, Ohio is completed later this year.
Freddie Mac reported a 38% drop in refinancing volumes in March from the previous month and a corresponding 33% drop in MBS issuance, providing more evidence of the slowdown in mortgage lending.
CMG Mortgage has hired Todd Hempstead, a Fannie Mae veteran of 25 years, to work with private investors interested in buying and securitizing conforming and jumbo mortgages.
House prices fell 1.1% in February following a 1.1% decline in January, according to the Standard & Poor’s/Case-Shiller 20-city house price index.
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