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The MReport Webcast: Wednesday 2/3/2016

The Federal Housing Finance Agency, Fannie Mae, and Freddie Mac announced Tuesday the establishment of an independent dispute resolution process for solving mortgage repurchases disputes.

In 2012, FHFA, Fannie Mae, and Freddie Mac made the representation and warranty framework​ a priority in the conservatorship scorecards. The 2016 scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions provided direction to complete IDR as part of that framework. The IDR portion of the framework is designed to allow lenders to escalate unresolved loan level disputes to a neutral third-party arbitrator after the appeal and escalation processes have been exhausted.

Since the TILA-RESPA Integrated Disclosure rule was enacted, existing home sales have been on a series of highs and lows, but Ten-X.com predicts that things could begin to level out as more lenders adjust to the regulation. Ten-X's Residential Real Estate Nowcast shows that existing home sales for January 2016 are expected to fall between 5 point 13 and 5 point 46 million annual sales, with a targeted number of 5 point 29 million. This number is up 9 point 8 percent year-over-year, but down 3 percent month-over-month.

 

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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