Fannie Executives to Discuss HAMP Progress, Challenges

Two senior executives from Fannie Mae have joined the panel that will discuss the government’s Home Affordable Modification Program at an Inside Mortgage Finance audio conference on October 21 at 2 pm EDT. Fannie regulates its customers for HAMP compliance plus it serves as an administrator –including managing incentive payments– for the overall program. Joining Fannie Mae at the upcoming audio conference are executives from CitiMortgage, the Boston Fed as well as a legal expert on HAMP.

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Details of Massive New TILA Proposal to be Addressed Tomorrow

A detailed look at the Fed’s sweeping proposal to overhaul the Truth in Lending Act is the subject of an Inside Mortgage Finance audio conference scheduled for 2 pm EDT tomorrow. The event  – “Bracing for Massive TILA Changes” – will feature Fed Senior Attorney Paul Mondor, mortgage regulation legal expert Steven Kaplan and Morgan Stanley VP for Legal and Compliance Andrew Budish discussing what this new 660-page regulatory proposal will mean for the mortgage industry.
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Latest Mortgage Regulatory Proposal to Be Discussed at IMF Event

The Federal Reserve last month proposed the most sweeping changes to the mortgage provisions of the Truth in Lending Act ever seen. The major proposal would place new limitations on payments to mortgage brokers and loan officers, and prohibit originators from steering borrowers to mortgage products that aren’t in their “best interest.”

Legal experts and a Fed representative will discuss the major changes and what they may mean for the mortgage industry at a must-attend Inside Mortgage Finance audio conference on Thursday, September 10 at 2 pm EDT. Click here for more info.

Largest Servicers to Explain Their Handling of Short Sales

The Obama administration is stepping up its efforts to promote short sales as part of its plan to help distressed homeowners avoid foreclosure. On August 18, representatives from the country’s two largest servicers–Bank of America and Wells Fargo–will outline their approaches for dealing with short sales at an audio conference from Campbell Surveys. The event– “Navigating the Short Sale Process: Learning from the Nation’s Largest Mortgage Servicers” –is aimed at helping real estate agents and others take advantage of the new opportunities to expedite short sales.

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GSE Regulator to Discuss Controversial Appraisal Code

Alfred Pollard, General Counsel of the Federal Housing Finance Agency, will discuss his agency’s move to require Fannie Mae and Freddie Mac to adopt a controversial new appraisal code at an Inside Mortgage Finance audio conference next Wednesday, July 29, at 3 pm EDT. Fannie’s and Freddie’s new Home Valuation Code of Conduct has drawn considerable fire from both the mortgage broker and real estate industries. Joining Pollard in addressing the current appraisal controversy are Marnie Applegate, Senior Vice President at SunTrust Mortgage, William Garber with The Appraisal Institute, and Jerome Nagy with the National Association of Realtors.

The audio conference, “Coping with Appraisal Changes,” will also cover Fannie’s and Freddie’s recent moves to require a “market conditions” addendum supporting new appraisals. Click here for more info.

Freddie Issues Appraisal ‘Best Practices’ to Help Its Lenders

In what is being viewed as a further toughening of appraisal requirements, Freddie Mac late last week issued new underwriting guidance that urged lenders to adopt a new set of “best practices” for handling appraisals.  The new guidelines spell out both appraiser and lender staff qualifications as well as appraiser selection. Significantly, the longest part of the new recommended practices relate to appraisal reviews and the steps lenders need to follow in monitoring the quality and accuracy of new appraisals.

Part and parcel of the new Freddie Mac appraisal guidance is assuring compliance with the recently implemented and controversial Home Valuation Code of Conduct. Inside Mortgage Finance is hosting an audio conference on July 29 at 3 pm EDT on “Coping with Appraisal Changes.” Click here for more info.