It seems entirely possible that before joining Alacrity Services, one might be asked to define “alacrity.” While actively expanding its property restoration services to insurance, REO, and consumer customers nationwide, the company is determined to continue embodying the true meaning of its moniker: moving nimbly and with good spirit.
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The Valuation Visionary award recognizes a standout collateral valuation professional every year who has demonstrated outstanding leadership, innovation and professionalism. Winners are nominated by their peers within the Collateral Risk Network. The recipient will be awarded at the Valuation Expo East on March 20, 2017, in Orlando, Florida.
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The company has also increased the size of the Board from eight members to nine after the appointment of the newest Board member. Ronald J. Korn, a Director at Ocwen, has informed the Board that he will retire from the Director position this May. Upon Korn’s resignation, the size of the Board will be reduced from nine members to eight.
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The Consumer Financial Protection Bureau released a proposal to amend certain regulations in the Equal Credit Opportunity Act (ECOA). The intent is to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. The proposed amendments should provide greater clarity to lenders regarding their obligations under the law, and according ...
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More lenders in February saw defects in mortgage applications compared to January, according to a new report by First American Financial Corp. The firm’s chief economist cited rising interest rates as the likely culprit. As rates rise, more borrowers are seeking ARMs, which are inherently riskier and, thus, ripe for more misrepresentation.
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Analyses of new Census data show populations are shifting out of the big cities and the Rust Belt and into the Sun Belt suburbs. According to the data, the fastest population growth in the last 30 years has been in Arizona, California, Colorado, Florida, Georgia, Nevada, North Carolina, South Carolina, and Texas. Detroit saw the largest decrease in population with a drop of nearly 20 percent.
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The release of a system designed to unify how Fannie and Freddie use mortgage-backed securities has been put on hold. The FHFA announced Thursday that its ‘Release 2’ plans for a unified MBS strategy will be delayed another year. The agency cited the need for further development before implementation, but FHFA Director Melvin Watt still touted the system’s potential.
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Defects in a chain of title can have devastating effects on the mortgage servicer’s ability to recover an asset associated with a nonperforming loan. The webinar discussed how to navigate regulation and correct mistakes, and what to look out for in judicial foreclosure states.
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The chain of title is the guy-wire that holds the home finance industry upright. Without some method to determine who owns a given parcel of real estate, it cannot be used as collateral for a loan. In cases where these loans go into default, a clear title is essential for a smooth foreclosure and REO process. Unfortunately, problems arise that cloud the title, increasing loss severity for investors.
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According to a recently released report by the Federal Housing Finance Agency (FHFA), foreclosures from Fannie Mae and Freddie Mac since the dawn of conservatorship reached 3.8 million as of Q4 2016. Overall however, serious delinquencies are down, along with short sales and REOs. FHFA also found that that the types of loan modifications offered are being influenced by the increase in home prices over the last couple of years.
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