The News Review:
- Visionet Systems Upgrades its VisiRetention offering to facilitate …
- Fannie and Freddie Will be Important in Economic Recovery …
- job losses fueling foreclosures
Visionet Systems Upgrades its VisiRetention offering to facilitate …
PR-Inside.com (Pressemitteilung), Austria
The H4H program is designed to help mortgage borrowers at risk of default and foreclosure to refinance into more affordable and sustainable loans. Mortgage lenders and investors need intelligent refinancing campaigns to effectively identify borrowers and help them through the H4H program. The key to success involves proactively and quickly targeting troubled homeowners that qualify for the program to reduce further damage to their current portfolio and ensure home retention. VisiRetention determines the borrower’s eligibility for the program by utilizing workflow and rules based technology, thus significantly reducing the setup and re-fi execution time. It has state-of-the-art mechanisms to collect relevant data from multiple systems and create a single version of the truth for rapid and accurate action.
Fannie and Freddie Will be Important in Economic Recovery …
MarketWatch
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NAR sent a letter on October 16 to U. Treasury Secretary Henry Paulson calling on the Treasury Department and the FHFA to refocus their efforts on restoring strength to the mortgage-backed securities market, which would help lower mortgage rates for all home buyers and for those needing to refinance. “The administration and Congress need to work together to ensure that the American people — not Wall Street and large banks — benefit from the economic recovery plan, and Fannie Mae and Freddie Mac play an important role in this recovery,” Gaylord said. In the interests of stimulating the housing market and the economy, NAR supports making the 2008 GSE loan limits for high-cost areas passed in February as part of the Economic Stimulus Act permanent. In addition, NAR submitted a stimulus plan to Congress and the administration in October calling on Congress to enact a new housing stimulus package that would help boost the economy. The plan includes consumer-driven provisions that would eliminate repayment of the first-time home buyer tax credit and expand the credit to all home buyers, make the 2008 increased mortgage loan limits permanent, focus the economic stabilization efforts on supporting the housing and mortgage markets instead of providing capital to banks with no strings attached, and permanently ban banks from entering into real estate brokerage or development.
Related from Marketingmonster: CreditReport.com Names Industry Veteran Bruce Cornelius Chief …
job losses fueling foreclosures
CNNMoney.com
Seabrooks bought a $165,000 home in March 2006 and financed it with a hybrid adjustable-rate mortgage, which recently reset to 8. "I thought I’d be doing well," she said, "I took the low rate, intending to refinance within two years. "Seabrooks has a new job, but it pays only $38,000 a year. That is not nearly enough to afford her $1,400 monthly mortgage bill, much less make up the five months of missed payments and fees that now total about $11,000. She’s seeking a loan modification with the help of counselors from the National Community Reinvestment Coalition. Ironically, her new job involves handling applications from people seeking to refinance their own unaffordable mortgages into FHA-insured loans.