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Posts Tagged ‘ principal ’

HUD Secretary on Principal Reductions

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HUD Secretary on Principal Reductions

HUD Secretary Shaun Donovan will be on C-SPAN Sunday morning (see here). Here are some comments on Fannie and Freddie principal reductions: Q: Why should Fannie and Freddie be forced to do write-downs? DONOVAN: This isn’t about force. This is about making the right decision for homeowners and for the taxpayer. We believe and...
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Government to triple HAMP payments for principal reductions

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Government to triple HAMP payments for principal reductions

From Jon Prior at HousingWire: Treasury to pay investors triple for HAMP principal reductions The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday [CR note: Treasury will pay incentives ranging from .18 to .63 cents on the dollar - depending on...
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FHFA Analysis on Principal Forgiveness

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FHFA Analysis on Principal Forgiveness

The FHFA released their analysis on the effectiveness of principal reductions for Fannie and Freddie loans. The FHFA analysis showed that principal reductions would be more costly for taxpayers than other alternatives. Here is the letter: FHFA Releases Analysis on Principal Forgiveness As Loss Mitigation Tool Here is the analysis: FHFA Analyses of Principal...
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HUD reduces HECM Saver upfront fees to .01% of principal

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HUD reduces HECM Saver upfront fees to .01% of principal

The Department of Housing and Urban Development released more details on its latest reverse mortgage product, HECM Saver, which HousingWire reported in August. HECM Saver will have an upfront MIP of only .01% of the property's value, significantly reducing upfront costs. Under the HECM Standard option, the upfront mortgage insurance premium will remain at...
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