Top DSnews Stories from 2011

This year was undoubtedly one of the most noteworthy in the default servicing industry. As 2011 comes to a close, join us as we look back at the year that was and the Foreclosure-related stories that were most read and left the biggest impact on DS News readers.

Big Four Set to Participate in HARP 2.0

By Carrie Bay | 10/27/2011

The industry's four largest mortgage servicers all say they will be taking part in the revamped Home Affordable Refinance Program (HARP). Bank of America, Chase, Citigroup, and Wells Fargo have each expressed their support of the program and the changes that will allow more underwater homeowners to refinance. Government officials expect the program's revisions to expand its reach and increase competition for mortgage refinancing, with an estimated 1 million homeowners to receive assistance under the new guidelines.
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Administration Announces Refinance Program for Underwater Borrowers

By Krista Franks and Carrie Bay | 10/24/2011

It's official. The Federal Housing Finance Agency (FHFA) has unveiled a new, revamped government mortgage refinancing program. The initiative involves a series of rule changes to the Home Affordable Refinance Program (HARP) to allow more underwater homeowners to reduce their mortgage debt by taking advantage of today's rock-bottom interest rates. Under the revised HARP guidelines, the 125 percent loan-to-value (LTV) ceiling has been removed, and risk-based fees have been adjusted.
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HUD Offers REO Homes for $100 Down in Select States

By Carrie Bay | 10/24/2011

HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers. In select states, from now into October of next year, buyers need a down payment of only $100 to purchase a HUD-owned REO home. The buyer must be an owner-occupant, utilizing financing insured by the Federal Housing Administration (FHA). Contacts in the field say one of the most exciting features of this incentive program is that it can also be applied to an FHA 203k loan, which can be used to fund repairs and renovations on the home.
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Get all of the Top Stories from 2011 here