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NMP News

New York Awarded $182 Million as Part of Citigroup Payout


New York State Attorney General Eric T. Schneiderman joined members of a state and federal working group he co-chairs to announce that $182 million—$92 million in cash, and at least $90 in consumer relief—would be allocated to New York State as part of a $7 billion settlement with Citigroup. As part of the settlement, Citigroup acknowledged it made serious misrepresentations to the public—including the investing public—arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by Citigroup.Click to continue

Citi Agrees to Shell Out $7 Billion for Bad RMBS

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Citigroup has announced that they’ve agreed to pay around $7 billion to the U.S. government regarding bad mortgage-backed securities (MBS), with $4.5 billion to be paid in cash with an additional $2.5 billion paid in “consumer relief.” Even with Citigroup’s shares rising 3.6 percent in the second quarter, this news is still devastating to Citi's Q2 Click to continue

FHFA Seeks Input on Potential MI Changes for GSEs


The Federal Housing Finance Agency (FHFA) is seeking input on draft requirements that would apply to private mortgage insurance (MI) companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac. These requirements would apply only to private mortgage insurers that are currently approved to do business with Fannie Mae or Freddie Mac and those seeking approval in the future.  Click to continue

Bipartisan Bill Introduced to Advance Wind Down of GSEs


Reps. John K. Delaney (D-MD), John Carney (D-DE), and Jim Himes (D-CT) have introduced innovative housing finance reform legislation, the Partnership to Strengthen Homeownership Act (HR 5055). This legislation preserves the 30-year fixed rate mortgage and protects American taxpayers by using private sector pricing to reduce the risk of future bailouts.Click to continue

Coastal Homes Face Nearly $1.5 Trillion in Total Reconstruction Costs

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CoreLogic released its 2014 storm surge analysis featuring estimates on both the number and reconstruction value of single-family homes exposed to hurricane-driven storm surge risk within the United States. According to the findings, more than 6.5 million homes along the U.S.Click to continue

RealtyTrac Examines Discounts and Premiums for Single-Family Homes

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RealtyTrac has released an analysis profiling what single family homes sell at the deepest discounts and what single family homes sell at the highest premiums based on four variables: Foreclosure status, equity, occupancy and the year the home was built.Click to continue

CoreLogic and Urban Institute Co-Host Capitol Hill Housing Panel Discussion

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CoreLogic, along with the Urban Institute, recently hosted a Capitol Hill panel event titled, “Cash Sales, Institutional Investors & Single Family Rentals: Performance, Pricing & Policy.” The panel featured candid discussion among participants from the non-profit and private sectors, exploring the economic, social and market impact created by the rise in institutional investors and the single-family rental business.Click to continue

NRMLA Launches Consumer Education Campaign


Increasing lifespan coupled with earlier retirement poses a challenge for many individuals and couples trying to figure out how to make sure their financial resources will last their lifetime. Longevity is a gift on the one hand, but it also requires forethought and planning to make sure one’s finances will sustain them through the duration of their life.Click to continue