NAR to Congress: Turn Fannie and Freddie into Non-Profits

The second proposal for reform of the housing finance system in a week was just introduced by the National Association of Realtors® (NAR). Their “vision” for reform is centered on Fannie Mae and Freddie Mac (the GSEs).The future of the two companies, in federal conservatorship since 2008, barely got a mention in the outline for reform legislation released a few days ago by Mike Crapo (R.

 · Appraisal Institute – Appraiser News Online GSE Dissolution to Take Two Years to Commence: Geithner ".The Obama administration wants Congressional approval by 2013 to begin dissolving fannie mae and Freddie Mac, Treasury Secretary Timothy Geithner told the House Financial Services Committee March 1.

Nationstar scoops huge Fannie, Freddie mortgage servicing portfolio A Tale of Two Loan Modifications, As Investors Sue Countrywide RBS securitized the loans and sold them to investors. is the second in two weeks in which a bank was charged with wrongdoing for securitizing mortgages that it did not originate. The American Civil. · Ocwen Financial Intends to sell additional billion portfolio of Mortgage Servicing Rights to Nationstar. of Nationstar Mortgage. 142,000 loans owned by Freddie Mac and Fannie.

Fannie and Freddie don’t issue mortgage loans, but they do back them by lenders and bundle them into securities, guaranteeing them to investors. The administration argues that the GSEs play an outsized role in the nation’s mortgage finance system that impedes competition in the marketplace.

 · Fannie Mae and Freddie Mac grabbed the headlines this week. However, the news didn’t come from Congress, but the courts. After its latest sec filing, we.

Home Depot stock takes off Celink names Robert Sivori new chairman, CEO Celink, the largest subservicer of reverse mortgages in the U.S., announced that Robert Sivori will take over as its new chairman and CEO. Sivori will also assume the same title for Casa Holdco, Celinks new parent company. sivori, who has more than 25 years of experience in the mortgage industry.Coming out of the 2008-09 financial crisis, The Home Depot (hd) took a brutal beating. Now, eight years into an economic expansion, Home Depot is looking to make similar moves in anticipation of.

Forcing Fannie and Freddie into conservatorship wasn’t a bailout. It was a stick-up. Gary Hindes is chairman of The delaware bay company, LLC and a Fannie Mae and Freddie Mac shareholder.

Hopefully someone waiting to lock in an interest rate on a mortgage. Freddie Mac loan that is not serviced by MetLife they will go to 105% but its turn times are near 30 days for approval and.

MetLife exits forward mortgage business NAR to Congress: Turn Fannie and Freddie into Non-Profits NAR releases proposal for Fannie, Freddie reform – NAR proposes classifying and regulating Fannie and Freddie in a manner similar to SIFMUs: as closely regulated companies that are only insured by the U.S. government, not owned by it. Of course.

Ally Financial, formerly GMAC Mortgage, suspends foreclosures in 23 states The legal predicament compelled ally financial, the nation’s fourth-largest home lender, to halt evictions of homeowners in 23 states this week. Now it appears hundreds of other companies, including mortgage giants fannie mae and Freddie Mac, may also be affected because they use Ally to service their loans.

NAR continues to meet with the four largest lenders, Fannie Mae, and Freddie Mac to emphasize the importance of making short sales work better. Though many lenders and the GSEs have improved procedures to handle escalated cases, NAR has continued to push for changes to make the short sales process as efficient as regular transactions.