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Volume 14 - Number 10

May 16, 2014

FHFA Targets REOs with Detroit Neighborhood Stabilization Pilot

The Federal Housing Finance Agency will launch a pilot program in Detroit designed to improve servicing standards and foreclosure prevention options in neighborhoods hardest hit by the foreclosure crisis. FHFA Director Mel Watt, in a speech this week at the Brookings Institution, unveiled the agency’s new Neighborhood Stabilization Initiative, as part of the Finance Agency’s more muscular conservatorship strategic goal to maintain Fannie Mae and Freddie Mac.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%