The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the August edition of the Obama Administration’s Housing Scorecard, a comprehensive report on the nation’s housing market. In July, housing prices remained level after 30 straight months of decline, while some price predictions have improved. In addition, historic low interest rates continued to promote home affordability and refinancing options for the nation’s families.Read more

Just as the government-sponsored enterprises (GSEs) have announced their Home Affordable Foreclosure Alternatives (HAFA) programs, MOS Group Inc., one of the nation’s largest loss mitigation service providers to mortgage lenders and servicers, has announced the expansion of its loss mitigation services. The company’s loss mitigation services will now include short sales and deeds-in-lieu that comply with the Treasury Department’s HAFA program requirements.Read more

The U.S. Senate has passed sweeping financial reform legislation that includes provisions supported by the CRE Finance Council that improve the construct of asset-backed securities reforms and assist a market recovery for commercial real estate finance. By a vote of 59-39, the Senate approved the large-scale financial reforms believed to be needed by the Obama Administration in the wake of the global financial crisis.Read more

U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan has announced that the Obama Administration will work with Congress to find ways to help state and local governments more effectively combat the ongoing effects of the housing crisis and home foreclosures through additional funding for the Department's Neighborhood Stabilization Program (NSP) and foreclosure prevention counseling. Donovan made the announcement at a Tuesday morning roundtable with Washington, D.C.-based reporters sponsored by the Christian Science Monitor.Read more

We Save Homes Inc., a provider of a full-range of products and services for the mortgage default services industry has announced that it has launched a significant infomercial marketing campaign, reaching out to millions of homeowners who are now behind on their mortgage payments. The campaign, which is focused on the short sale marketplace, will be live by mid-May, starting with a 60-sec. commercial, followed by the launch of a 30-min. infomercial. Read more

iServe Servicing Inc., one of the nation’s leading residential mortgage special servicers of performing, sub-performing, non-performing and bank-owned assets, has announced it has received certification for immediately participation in the U.S.Read more

Springboard Nonprofit Consumer Credit Management, a U.S. Department of Housing & Urban Development (HUD)-approved housing counseling agency, has announced the offering of an online resource center where real estate agents can find the latest information on the Home Affordable Foreclosure Alternatives (HAFA) Program, and request HAFA application assistance for their clients through the agency's R.A.P.I.D. (Realtor Appointment Processing In Demand) Center.Read more

More than a dozen HOPE NOW servicers, including Bank of America, Chase, Citi, GMAC, Suntrust, Wells Fargo and others, assisted more than 1,300 homeowners from across the Pacific Northwest, during three homeownership preservation events held recently in the area. On March 23, 532 at-risk families were in attendance at the Doubletree Hotel in Portland, Oregon to meet with mortgage servicers and U.S. Department of Housing & Urban Development (HUD)-approved housing counselors. A two-day event in Bellevue, Wash. (Seattle area) on March 25-26 saw an additional 796 homeowners.Read more

John A. Courson, president and chief executive officer of the Mortgage Bankers Association (MBA), has issued the following statement reacting to new plans by the Obama Administration to help borrowers who are underwater on their mortgages or have suffered a significant reduction of income that imperils their ability to pay their mortgage.Read more

The Obama Administration has announced adjustments to Home Affordable Modification Program (HAMP) and Federal Housing Administration (FHA) programs. These program adjustments will better assist responsible homeowners who have been affected by the economic crisis through no fault of their own. The program modifications will expand flexibility for mortgage servicers and originators to assist more unemployed homeowners and to help more people who owe more on their mortgage than their home is worth because their local markets saw large declines in home values.Read more