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Linda McKissick's Blog (12)

Short Sales in Your Area - need regulatory help or not?

What are your thoughts on this article from DSNews?  In my area this was not true in 2011 - we saw short sales become much quicker to close and sale prices well below market value.  Our Foreclosure properties generally are receiving multiple offers and going at or over list price.

To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale…

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Added by Linda McKissick on February 23, 2012 at 1:22pm — 1 Comment

Regulators to Release Results of Foreclosure Probe Next Month

The task force assembled by federal banking regulators to investigate the industry’s servicing and foreclosure practices is expected to release the results of its findings as early as February.

The Federal Reserve, FDIC, Office of the Comptroller of the Currency (…

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Added by Linda McKissick on January 19, 2011 at 10:06am — No Comments

Freddie Mac Expands First Look Initiative for REO Homes

Freddie Mac starts new First Look Program which allows homebuyers 15 days to purchase a HomeSteps REO home before investors can write an offer.

In addition to owner-occupant buyers searching for their primary residence, Freddie Mac’s First Look 15-day window is open to buyers who are part of HUD’s Neighborhood Stabilization Program (NSP), as well as…

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Added by Linda McKissick on September 16, 2010 at 9:05am — 1 Comment

NAR is out to take the valuation money through the new HAFA program. Looks like appraisers could take another blow. Is short sale fraud the next big dirty deed from the industry? Modification? Short …

NAR is out to take the valuation money through the new HAFA program. Looks like appraisers could take another blow. Is short sale fraud the next big dirty deed from the industry? Modification? Short sale? Which is best?

http://www.thinkbigworksmall.com/mypage/player/tbws/25173/1632849

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Added by Linda McKissick on March 18, 2010 at 11:33am — 3 Comments

Loan Mods......White Noise to Keep Us Distracted?

This same information, but given in a two hour presentation by a totally different source, is a real eye opener of the level of deception being fed to us.

The attached video talks about just one of the 'Sweetheart' deals the FDIC has made. It has similar deals with over 52 banks.

So all the talk about Loan Mods......Window Dressing.

According to DSNews, which by the way has no article about the back door deals being made, but does have several…

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Added by Linda McKissick on February 12, 2010 at 9:00am — No Comments

Diminished quality loan pools also create a higher default rate...

Fitch Solutions reported this week that its pricing index for subprime residential mortgage-backed securities (RMBS) originated in 2004 fell by 16.7 percent in November compared to just one month earlier.



Other vintages included in Fitch’s study, from 2005, 2006, and 2007, showed small gains on a month-to-month basis. The gains helped to temper Fitch’s total market subprime RMBS price index so that it recorded only a “marginal” decline, according to the firm.



While prices… Continue

Added by Linda McKissick on November 14, 2009 at 9:00am — No Comments

Moody's: Loan Charge-Offs Now Exceed Depression-Era Levels

How fast can the printing presses pump out the money - At least durring the depression our money was backed by Gold and had some value. Now it is quickly becoming worthless.



There have been plenty of parallels drawn between the current downturn and the 1930s, but here’s another jarring one: U.S. banks are now charging off loan debts faster than they did in the early years of the Great Depression, according to Moody’s Investors Service.



The banks have charged off… Continue

Added by Linda McKissick on October 28, 2009 at 9:44am — 1 Comment

Record Streak Continues for Pending Home Sales as Tax Credit Deadline Approaches

The race is on to get FTHBs in contract....

Negotiations continue for extension. What do you think? Will they extend this successful program?

Any thoughts on why the Gov would end this type of insentive just as real estate is heading into the winter months which are slower for most areas outside the Southern states?



Anticipated home sales have increased for seven straight months, the longest upward run since the National Association of Realtors (NAR) began its… Continue

Added by Linda McKissick on October 7, 2009 at 5:27pm — 2 Comments

Who Walks Out? New Studies Shed Light on Strategic Defaults - Very Interesting

A nationwide rise in homeowners’ “negative equity” is convincing more people to walk out on their mortgages, even if they have favorable credit ratings and can afford to pay their loan, according to recent studies.

Two reports – one by researchers at Northwestern University and two other colleges, the other by the national credit bureau Experian and the consulting firm Oliver Wyman – are offering a clearer picture of “strategic defaultees” than… Continue

Added by Linda McKissick on October 1, 2009 at 9:12am — 1 Comment

Freddie Mac Engages Titanium to Knock on Doors of Delinquent Borrowers

Freddie Mac has launched an aggressive, proactive campaign to help troubled borrowers modify their home loans under the federal government’s mortgage relief program.



The GSE said Tuesday that it has hired Titanium Solutions, Inc., a homeowner contacting and counseling firm based in Salt Lake City, Utah, to knock on the doors of delinquent borrowers and obtain missing documentation and complete applications needed to begin their three-month trial payment periods for… Continue

Added by Linda McKissick on September 30, 2009 at 8:47am — No Comments

NFSTI Seminar

What an awesome seminar this was! Full of a ton of useful information presented in an informal, casual way that allowed all questions to be addressed on all topics.
The highly experienced asset manager and top REO agent who were the presenters, were a wealth of knowledge and I felt it was very worth the time and money to attend.

Added by Linda McKissick on August 1, 2009 at 6:41am — 32 Comments

Diminished quality loan pools also create a higher default rate...

Fitch Solutions reported this week that its pricing index for subprime residential mortgage-backed securities (RMBS) originated in 2004 fell by 16.7 percent in November compared to just one month earlier.



Other vintages included in Fitch’s study, from 2005, 2006, and 2007, showed small gains on a month-to-month basis. The gains helped to temper Fitch’s total market subprime RMBS price index so that it recorded only a “marginal” decline, according to the firm.



While prices… Continue

Added by Linda McKissick on November 30, 1999 at 12:00pm — No Comments

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