Treasury relaxes rules to free-up HAFA short sales

Strong housing market helps reduce lingering foreclosure inventory No Housing Recession Over Horizon – Moreover, many Americans have painful, lingering memories of the home price crash, rising foreclosures. of supply at the depth of the housing market crash, it now would take only 4.3 months to.

The Administration also created the Home affordable foreclosure alternatives SM Program (HAFA SM) to help those homeowners who can no longer afford their home – even with a mortgage modification – transition to more affordable housing through a short sale or deed-in-lieu of foreclosure.

Bank of America reaches multi-billion dollar deal with Fannie Mae Bank. America reached a $10.3 billion settlement with Fannie Mae earlier this year over questionable countrywide loans originated between 2001 and 2008. JPMorgan (JPM), meanwhile, is currently in.

Bruce Olvin McBarnette Comments On New Short Sale Rules. shared his thoughts on the new rules governing short sales that the Treasury Department. rules relax the debt-to-income verification.

Short on results: short sales are the best hope for sopping. – Free Online Library: Short on results: short sales are the best hope for sopping up ballooning inventories of foreclosed properties. So why haven’t they had more impact?(REO management, Financial report) by "Mortgage Banking"; Banking, finance and accounting Business Real estate industry banking industry company sales and earnings Officials and employees Foreclosure Housing, Single family.

Wells Fargo Home Affordable Foreclosure Alternative (HAFA) Guidelines HAFA establishes streamlined short sale rules and incentivizes borrowers and lenders to work together to avoid foreclosure. The rules – in effect between April 5, 2010, and Dec. 31, 2012.

NY Establishes Loss Mitigation, Fair Dealing Duties for Mortgage Servicers Treasury relaxes rules to free-up HAFA short sales The U.S. Treasury is trying to make short sale more attractive to lenders and homeowners through the "home affordable foreclosure alternatives Program" or "HAFA" along with the updated HAFA changes for 2011 and HAFA.

Existing-home sales continue to slip Zillow: Home price depreciation to worsen market into 2011 That’s according to Local Market Monitor (LMM), a Cary, N.C.-based real estate research firm that crunched the numbers for our list of the best and worst cities for home values in 2011. One list.Existing-home sales declined in June but have stayed well above year-ago levels for the past two years, while the median price shows seven straight months of double-digit year-over-year increases,

generally the lien interest of the United States in short sale properties is valueless. Therefore, applications for discharge for properties subject to short sales should be considered under IRC 6325(b)(2)(B). HAFA is part of Home Affordab. le Modification Program (HAMP) enacted by Treasury Department Supplemental Directive 09-01 on April 5, 2010.

Short Sale Soundoff: HAFA short sales pick up slightly after. – Short Sale Soundoff: HAFA short sales pick up slightly after rules eased august 11th, 2012 by mick@sfresidence.com Under the Home Affordable Foreclosure Alternatives program, mortgage servicers completed 6,069 short sales and deeds-in-lieu of foreclosure in June, according to Treasury data.

“The majority of employers were not rorting the rules but providing the benefits in a manner consistent with the legislation and with the tax office’s public rulings.” According to the announcement.

of a short sale or deed -in-lieu of foreclosure. Effective November 2012, the GSEs jointly streamlined their short sale and deed-in-lieu of foreclosure programs. The GSE Standard HAFA program is closely aligned with Treasury’s MHA HAFA program. A short sale requires a third-party purchaser and cooperation of junior lienholders and

Nomura and RBS await judge ruling on FHFA mortgage lawsuit A U.S. appeals court appeared unlikely on Friday to overturn an order requiring nomura holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to pay $839 million for making false statements while selling mortgage-backed securities to Fannie Mae (FNMA.PK) and Freddie Mac(FMCC.PK). Lawyers for both