FHFA Allows for Third Parties to Solve Loan Repurchase Disputes Fannie Mae FHFA Freddie Mac Loan Repurchases 2016-02-02 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago February 2, 2016 1,337 Views Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Loan Repurchases The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Xhevrije West The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Share Save Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Allows for Third Parties to Solve Loan Repurchase Disputes Previous: Kentucky Amends Foreclosure Sale Rules Next: Counsel’s Corner: HOA Super-Priority Lien Issue Not as Clear After Court Opinion Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market The Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced Tuesday the establishment of an independent dispute resolution (IDR) process for solving mortgage repurchase disputes.In 2012, FHFA, Fannie Mae, and Freddie Mac made the representation and warranty framework a priority to complete in the conservatorship scorecards, the announcement noted. The 2016 scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions provided direction to complete IDR as part of that framework.”The IDR process provides the Enterprises and lenders a mechanism for resolving a repurchase dispute and avoiding the possibility that a dispute might languish unresolved for an extended period of time as has often occurred in the past,” said Melvin L. Watt, FHFA Director. “IDR is the final part of the Representation and Warranty Framework which, taken as a whole, will increase clarity for lenders and will ultimately increase access to mortgages for creditworthy borrowers.”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, the announcements said.”The IDR process is specifically designed to address alleged loan-level breaches of selling representations or warranties that remain unresolved after completion of the appeals process,” Fannie Mae and Freddie Mac noted. “The IDR process will not replace the Government Sponsored Enterprises’ current quality control and related appeal processes, but will allow a neutral third party to resolve demands that remain unresolved after the appeal and escalation processes have been exhausted.”According to the FHFA, Fannie, and Freddie, the IDR process is available on loans delivered to Fannie Mae and Freddie Mac on or after January 1, 2016. More information will be provided in the GSEs’ selling guide later this year.”The IDR process provides the Enterprises and lenders a mechanism for resolving a repurchase dispute and avoiding the possibility that a dispute might languish unresolved for an extended period of time as has often occurred in the past.” Mel Watt, FHFA DirectorAndrew Bon Salle, EVP, Single-Family Business at Fannie Mae stated, “Over the last few years, we’ve worked closely with our customers to help clarify our policies and guidelines related to representations and warranties. Our intention has been to ensure lenders can lend with confidence knowing that if they originated to Fannie Mae guidelines their risk of repurchase has been minimized. Many lenders have told us that our efforts are paying off, and that they are more comfortable lending to the full credit box of our guidelines. This latest step provides a clear, reliable and independent process to resolve disagreements over repurchase requests in a timely fashion when needed. We believe we’ve created a system that addresses our customers’ concerns. We’ll continue to work closely with our customers to drive simplicity and certainty in all aspects of our business.””Today’s announcement finishes a four-year process to give our lenders a simpler, clearer, and more certain representations and warranties framework for originations,” said Donna Corley, SVP, Division Chief Risk Officer, Single-Family at Freddie Mac. “The final piece is a new independent dispute resolution (IDR) process for handling alleged loan-level breaches of selling representations or warranties that are unresolved after completing our appeals process. This process empowers lenders to refer these disputes to a neutral third party for a final decision. The transformation of the representation and warranties framework was undertaken at the direction of the Federal Housing Finance Agency to Freddie Mac and Fannie Mae. Today’s announcement underscores the steady fulfillment of our commitment to work with all stakeholders to strengthen America’s mortgage finance system.””I applaud the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac for their effort in establishing another important piece to their representation and warranty framework,” said Ed Delgado, President and CEO of The Five Star Institute. “The implementation of an independent dispute resolution process for resolving repurchase disputes within Fannie Mae and Freddie Mac will be a tremendous help to lenders in the mortgage industry and will increase access to credit for borrowers. I strongly support these government agencies’ actions to further expand lenders’ businesses and boost homeownership in the U.S.”Click here to view the FHFA announcement.Click here to view Fannie Mae’s announcement.Click here to view Freddie Mac’s announcement.Editor’s note: The Five Star Institute is the parent company of DS News and DSNews.com.
kieferpix/iStockBy MEREDITH DELISO, ABC News(NEW YORK) — In April, a month after the World Health Organization declared the coronavirus outbreak a global pandemic, the Rape, Abuse & Incest National Network (RAINN) reported that, for the first time, half of the victims receiving help from its National Sexual Assault Hotline were minors.Eight months later, the anti-sexual violence organization is still finding that to be the case.“We are seeing a lot of what we saw in the spring,” RAINN President Scott Berkowitz told ABC News this month. In fall 2019, about 40% of hotline users were minors; since the spring, that number has consistently been around 53%, Berkowitz said.At the same time, reports of child abuse and neglect to state agencies and interventions by child advocacy centers have declined.A recent report by the National Children’s Alliance, which represents a national network of 900 children’s advocacy centers, found that the centers helped some 33,000 fewer children in the first half of the year than they did over the same period last year — a 17% drop — the organization told ABC News.“We have every reason to believe that those kids are still out there, that they still need service, and we simply haven’t been able to identify them to this point,” Teresa Huizar, executive director of the National Children’s Alliance, told ABC News.Most abusers tend to be an immediate family member, according to the alliance. During the pandemic, children have lost access to people outside the home — such as a teacher, doctor or friend’s parent — who could report possible physical abuse or neglect. Instead, they may turn to a service like RAINN’s hotline, which could be helping to fill the gap, or go unhelped, which child abuse prevention advocates like Huizar have feared to be the case.The National Children’s Alliance says it plans to follow up on data from children’s advocacy centers to see how many children they served in the second half of the year. Though “we really have no reason to think that it will be very much different” from the first half, Huizar said, as many students have continued to learn remotely and surging COVID-19 cases have renewed stay-at-home orders.The pandemic has continued to put some children at an increased risk of abuse, Huizar said. Not only have they had less contact with people they could turn to during this time, families have endured financial stress for months on end. The boosted $600 in federal unemployment insurance ran out in late July, and several pandemic relief programs are set to expire at the end of the year.“Families that might not have been in immediate crisis at the beginning of the pandemic then came into crisis,” Huizar said. “As those circumstances worsen, we know from research that the more economic stressors there are in a family, the more likelihood that we are increasing the possibility of domestic violence and physical abuse.”A lack of social support is another stressor that may increase the risk of child abuse, Lisa Specter-Dunaway, the CEO and president of Families Forward Virginia, a Richmond-based nonprofit that provides services to help disrupt cycles of child abuse, neglect and poverty, told ABC News.“Having access to high-quality care is a child abuse prevention strategy,” she said, though the pandemic “has underscored the fragility of the child care system.”One in four child care centers and one in three child care homes say that if enrollment stays the same and no additional financial support comes forward, they will have to close in the next three months, according to a survey released last week by the National Association for the Education of Young Children. There is an emergency need for $50 billion to stabilize and support the sector, the organization said, as funding from the CARES Act, the Paycheck Protection Program and other sources runs out.After months of stalled negotiations, congressional leaders Friday night were still working out a nearly $900 billion COVID-19 relief deal that could include child care funding, as well as a second round of stimulus checks for lower-income Americans.Over the past nine months, service providers have adapted to help reach children and offer support.Children’s advocacy centers have moved the mandatory reporter training they offer to teachers online to continue to teach educators the signs of abuse and neglect. Some have also worked with schools to include safety messaging in homework packages and do unintrusive welfare checks on families such as through pizza dropoffs, Huizar said.Families Forward Virginia’s programs have held home visits virtually or socially-distanced on porches and in playgrounds. Teachers have also conducted online polls to gauge how children are feeling, Specter-Dunaway said. Though if children don’t have consistent internet access, they could be missed.“There are a lot of organizations that are conscious of it and are doing everything they can,” Berkowitz said. “But it’s so hard to have direct access to kids.”In July, RAINN launched a new app, through which users can access its National Sexual Assault Hotline. It has also brought on 30 additional hotline staffers to keep up with demand.The full impact of the pandemic on incidences of child abuse remains to be seen, though Berkowitz is sure of one thing.“I think we’re going to see a lot more ongoing assaults,” he said. “In a different world they might have been able to get help early; this year, they’re going to suffer for a longer period.”Copyright © 2020, ABC Audio. All rights reserved.
Written by Tags: Amway Coaches Poll/Utah State Aggies Football/Utah Utes Football August 2, 2019 /Sports News – Local Utah Ranked 15th In First Coaches Poll FacebookTwitterLinkedInEmail(South Bend, IN) — The Utah Utes are ranked 15th in the first Amway Coaches Poll of the season.The Utes come in with 642 points in the poll and despite being picked to win the Pac-12 they are behind both Washington at No. 12 and Oregon at No. 13 in the Coaches Poll.Reigning champion Clemson is ranked number-one, followed by Alabama, Georgia, Oklahoma and Ohio State.Fall camp is underway for Utah, which visits rival BYU in the season-opener on August 29th. The game can be heard on KSVC 980 AM, 100.5 FM and midutahradio.com.Utah State was in the others receiving votes category with 32 points, which puts them 35th. The Aggies begin the season on August 30th at Wake Forest. Robert Lovell
Richard Hannon’s colt ran a blinder in the French equivalent, hitting the front inside the final furlong before eventually being run out of it into fifth. However, he made up plenty of ground at Longchamp and connections are dreaming of claiming a Classic double this weekend, with Just The Judge running in the same colours in the 1000 Guineas. Jamie Spencer is likely to adopt different tactics on Havana Gold in Saturday’s Tattersalls Irish 2000 Guineas at the Curragh. “Havana Gold should be right in the mix,” said David Redvers, racing manager to owner Sheikh Fahad Al Thani. “He simply hit the front too early in the French Guineas and pulled himself up in front. “This time he’ll be ridden differently, probably in typical Jamie Spencer fashion, in the aim of putting his head in front right on the line.” First Cornerstone is set to make his seasonal bow in the Classic after a bad scope forced him to miss an intended run earlier. Press Association
Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Sumner Newscow report â€” Wellington received 1.8 inches of rain this weekend, all of it occurring during the Friday evening and Saturday morning period. Interestingly a lot of that rain occurred during the Wellington-Clearwater football game under clear blue skies at Clearwater Stadium.Follow us on Twitter.