As homeowners file insurance claims for property damage following Hurricane Ida and with Hurricane Larry threatening the northeast coast, mortgage servicers are facing an influx of insurance proceeds or loss draft funds. To...more
With new guidance and model documents issued by Fannie Mae and Freddie Mac, the mortgage industry is several steps closer to operating without LIBOR.
The industry has been grappling with the eventual demise of LIBOR since...more
2/10/2020
/ Adjustable-Rate Mortgage ,
Alternative Reference Rates Committee (ARRC) ,
Banking Sector ,
Fannie Mae ,
Freddie Mac ,
GSE ,
Libor ,
Loan Servicer ,
Mortgage Lenders ,
Mortgages ,
New Guidance ,
Secured Overnight Funding Rate (SOFR)
Following the recent hurricanes that have damaged many homes beyond repair, borrowers may seek to apply any available insurance proceeds to satisfy the outstanding balance on their loans rather than repair the property....more
10/10/2017
/ Borrowers ,
Contract Terms ,
Fannie Mae ,
Freddie Mac ,
Hurricane Harvey ,
Hurricane Irma ,
Hurricane Maria ,
Insurance Claims ,
Lenders ,
Loans ,
Mortgage Servicers ,
Property Insurance ,
Repairs
The Government-Sponsored Enterprises (GSEs) and their servicers scored a significant victory last week in the Nevada Supreme Court. In Nationstar Mortgage, LLC v. SFR Investments Pool 1, LLC (Case No. 69400), the court held...more
7/10/2017
/ Article III ,
Fannie Mae ,
Financial Services Industry ,
Foreclosure ,
Freddie Mac ,
GSE ,
HERA ,
Homeowners Association (HOA) ,
Mortgage Servicers ,
Mortgages ,
Nationstar ,
NV Supreme Court ,
Preemption ,
Standing
In an effort to “avoid the cost and burden of piecemeal litigation” of hundreds of cases in the Nevada HOA foreclosure crisis, the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac (collectively,...more
10/14/2015
/ Action to Quiet Title ,
Declaratory Judgments ,
Defensive Class ,
Enterprise Liens ,
Fannie Mae ,
FHFA ,
Foreclosure ,
Foreclosure Sales ,
Freddie Mac ,
HERA ,
Homeowners Association (HOA) ,
Permanent Injunctions ,
Preemption ,
Putative Class Actions