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New Law is Net Benefit.(Editorial)
The housing bill recently enacted into law is the most sweeping overhaul of the regulatory environment affecting mortgage lenders in many decades. Fortunately, the bill should help stabilize a beleaguered housing finance sector. But like all changes in laws and regulations, it comes along with many uncertainties.
A key issue for servicers, especially those managing large volumes of adjustable-rate mortgages that are poised to reset at higher payments, will be how well the law's provisions to spur the refinancing of troubled nonprime borrowers into FHA loans plays out. Those provisions are targeted toward "underwater" borrowers, those who owe more on their loans than their homes are currently worth. The Congressional Budget Office estimates that the FHA rescue program will finance up to 400,000 loans, or $68 billion of volume. It's a modest portion of those loans at risk of default, but it's enough to help mitigate the number of loans that are migrating toward foreclosure and REO status.
The FHA's foreclosure rescue program requires servicers and investors to cut the ...
- Charter One Bank Makes $100,000 Donation to Greater Chicago Food Depository's...
- Press release article from: Business Wire May 28, 2009 700+ words
...Greater Chicago Food Depository's Food Rescue Program to kick off its summer-long "Making...The bank's support of the Food Rescue Program could not more timely. With an unprecedented...kitchens, the Food Depository's Food Rescue Program is a vital component in helping to...
- Digital River Launches E-rescue Program to Eliminate E-commerce Application...
- Press release article from: Business Wire April 18, 2002 700+ words
...commerce outsourcing model. The E-Rescue Program is designed to get companies up and...costs. With Digital River's E-Rescue Program, these companies can now put those...upgrade costs." Digital River's E-Rescue Program includes: -- Start-up costs at...
- Computer Associates launches rescue program to Tivoli and Remedy service desk...
- Press release article from: M2 Presswire July 3, 2001 700+ words
...Associates: Computer Associates launches rescue program to Tivoli and Remedy service desk customers...announced that it has formally launched a rescue program that gives Tivoli and Remedy Help Desk...recent Peregrine acquisitions, the CA rescue program provides Unicenter Service Desk ...
- Coronary rescue program unveiled for Colorado police, fire departments.
- Newspaper article from: Health & Medicine Week March 31, 2003 700+ words
...CHBI) has announced the CHBI Coronary Rescue Program - a special screening program being...and fire departments. The Coronary Rescue Program had its beginnings in 2001, when the...the program. Under the CHBI Coronary Rescue Program, heart scans, lung scans and other...
- Charter One Bank Makes $100K Donation to Greater Chicago Food Depository's Food...
- Magazine article from: Entertainment Close-up June 4, 2009 700+ words
...Greater Chicago Food Depository's Food Rescue Program to begin its summer-long "Making...The bank's support of the Food Rescue Program could not more timely. With an increase...kitchens, the Food Depository's Food Rescue Program is a component in helping to ensure...
- Digital River Introduces E-Rescue Program for Companies with Endangered...
- Press release article from: Business Wire July 18, 2001 700+ words
...outsource provider, today launched an E-Rescue Program for companies and government agencies...provider to Digital River. The E-Rescue Program is designed to offer a quick and safe...information about Digital River's E-Rescue Program, call 888-627-1053 or send an...
- Colorado Heart & Body Imaging Unveils Coronary Rescue Program for Colorado...
- Press release article from: PR Newswire March 6, 2003 700+ words
...CHBI) has announced the CHBI Coronary Rescue Program -- a special screening program being...and fire departments. The Coronary Rescue Program had its beginnings in 2001, when the...the program. Under the CHBI Coronary Rescue Program, heart scans, lung scans and other...
- Top Canadian insurer implements CA's Unicenter Service Desk to support 3...
- Press release article from: M2 Presswire January 10, 2002 700+ words
...support 3 million customers; CA "Tivoli Rescue Program" enables fast, easy migration to...decided to take advantage of CAs Tivoli Rescue Program that offered an easy migration path...offices throughout the country. CAs Rescue Program offers Tivoli and Remedy customers...