SOURCE: Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) has published a bulletin to guide banks on their obligations as owners of foreclosed properties, as well as the risks related to them. The guidance highlights legal, safety and soundness, and community impact considerations, focusing primarily ...
SEPTEMBER 29, 2011
The National Association of Realtors (NAR) has made suggestions to HUD, the Federal Housing Finance Agency, and Treasury that it believes will reduce the number of REO properties held by government agencies. The suggestions included
- creating an advisory board that will develop new options for selling REO properties
- increasing consumer and investor lending
- taking more aggressive steps to modify loans or to quickly approve short sales
- avoiding bulk sales of REOs whenever possible
- being careful about large-scale lease-to-own programs
SOURCE: Marketwire.com, 9/15/11
URL: http://www.marketwatch.com/story/increased-lending-short-sales-necessary-to-reduce-high-reo-inventories-say-realtorsr-2011-09-15
Neighborhood Stabilization: A Nationwide Community Effort
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SOURCE: DS News, 9/16/11
At the Five Star Default Servicing Conference and Expo, neighborhood stabilization and the involvement of local nonprofits were part of the curriculum. Nonprofit housing organizations are partnering up with lenders and government agencies to minimize neighborhood blight caused by vacant ...
SOURCE: HUD
On September 8, President Obama addressed a joint session of Congress and proposed the American Jobs Act, containing a variety of incentives and programs aimed at getting more Americans back to work.
Find Foreclosed Homes with HUD’s New Mapping Tool
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SOURCE: HUD press release #11-166, 8/10/11
HUD’s new foreclosure mapping system is a tool for stabilizing communities hard-hit by foreclosure. The map shows all Fannie Mae, Freddie Mac and FHA foreclosed properties, whose foreclosure inventories make up almost half of the REO properties in the nation.
Strategic Partnerships: Check Out this National Model
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