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Surprise on Refi Revamp: Key Regulator Agrees to Reforms - Leigh Attridge/MA
10/25/2011 3:21:38 PM (4001 views)

Comment on "NAR: Existing Home Sales Edge Down in September" - Source of Title/OH
10/25/2011 2:24:02 AM (1964 views)

[+] Comment on "Breaking the Tie-- or Not" - Source of Title/OH (10 replies)
10/24/2011 8:01:51 PM (2719 views)

[+] Applied Tech Resources Doesn't Pay - Kimberly Goode/GA (4 replies)
10/24/2011 12:55:23 PM (2974 views)

[+] another company who does not pay - Anthony BROWNN/VA (4 replies)
10/24/2011 11:35:44 AM (3259 views)


Real Title Services


[+] What Are Your Thoughts on This - Kevin Ahern/CT (4 replies)
10/22/2011 8:34:17 AM (3042 views)

[+] Mass Land Records crappy new system - we need feedback - Leigh Attridge/MA (3 replies)
10/21/2011 9:05:29 AM (4236 views)

[+] Error or Lie? - Rebecca Cowart/MS (16 replies)
10/20/2011 5:52:49 PM (3004 views)

[+] Rush to Drill for Natural Gas Creates Conflicts with Mortgages - Leigh Attridge/MA (5 replies)
10/20/2011 12:28:47 PM (4783 views)

[+] Aracor is Not Paying - Bruce Lutz/PA (3 replies)
10/20/2011 10:46:35 AM (4122 views)

The Sweep-It-Under-the-Rug Housing Plan - Leigh Attridge/MA
10/19/2011 3:19:02 PM (3766 views)

US Century Bank, Florida won TARP loan, now teeters - Leigh Attridge/MA
10/19/2011 12:43:08 PM (3982 views)

[+] Comment on "Bevilacqua v. Rodriguez-- Mass. Buyers out of Foreclosure Get the [Mostly] Bad News" - Source of Title/OH (6 replies)
10/19/2011 11:37:11 AM (3079 views)

[+] Real T Solutions - trish kerns/PA (12 replies)
10/19/2011 10:03:01 AM (3150 views)

[-] Fannie Mae to phase out use of its retained attorney network - CHARLENE  PERRY/MD (2 replies)
10/18/2011 10:58:36 PM (4312 views)
Re: Fannie Mae to phase out use of its retained attorney network - Slade Smith/OH
10/19/2011 4:37:57 AM (3112 views)

FHFA's press release:

The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to transition away from current foreclosure attorney network programs and move to a system where mortgage servicers select qualified law firms that meet certain minimum, uniform criteria. Under current practice, in certain states each Enterprise designates law firms eligible under the Enterprise’s criteria to undertake foreclosure work and mortgage servicers then select and work with these firms.

The new approach is in line with FHFA’s Servicing Alignment Initiative that produced uniform foreclosure processing standards to assist servicers, homeowners and lenders. FHFA believes these efforts will lead to greater transparency and benefit delinquent borrowers who become subject to the foreclosure process. Further, the change will be supportive of the Consent Orders entered into by financial regulators and servicers.

The changes will be implemented after a transition period in which input will be taken from servicers, regulators, lawyers and other market participants. During this period, existing contracts remain in place and in effect.

 So, since the servicers no longer have to pick off the Fannie and Freddie lists, does that mean that David J. Stern can get back into the ballgame?  Or does "minimum criteria" mean that the foreclosure mills actually have to perform the work competently this time around?

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Re: Fannie Mae to phase out use of its retained attorney network - CHARLENE  PERRY/MD
10/19/2011 5:34:13 PM (3061 views)


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