Short Sale Incentives Coming in 2010, Treasury Says

From Diana Golobay at Housing Wire: Federal Incentives Coming for Short Sales, Deeds-in-Lieu US Treasury Department sources confirmed to HousingWire the Treasury expects to issue details on the short sale and deed-in-lieu program later this month.

 · Background. (These additional incentives are called “PRA investor incentive payments.”) The size of the PRA investor incentive payments depends not only on the amount of principal reduced but also on the loan-to-value ratio and the loan’s payment history before the HAMP modification. The PRA investor incentive payments range from 6% to 21%.

The bulk of those gains are coming from sales of the least expensive houses, which are in short supply and are often selling for. "This should not be misconstrued to say that sellers can overprice.

If you’re in trouble on your mortgage and can’t get a loan modification, check out the Obama administration’s standardized short-sale plan that’s scheduled to roll out in the next several months.

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The US Treasury Department has announced plans to launch a foreclosure program aimed at encouraging borrowers, servicers and investors, to pursue short sales. Scheduled to launch in April 2010, the Home Affordable Foreclosure Alternatives Program (HAFA) will offer up to $3,500 in incentive payments to qualified borrowers, servicers and investors who complete short sale transactions for properties with loans on the verge of foreclosure.

"If the short sale is completed then the borrower [homeowner] can receive up to $1500 in relocation assistance and the servicers can get up to $1000 compensation," says Olsen. "I think it’s a big step in the right direction," However, he says the success of the program is dependent on the buy-in of the subordinate (second-mortgage) lien holders.

OCC addresses foreclosure review controversy with new guidelines Summary. The Office of the Comptroller of the Currency (OCC) is publishing final guidelines that establish enforceable standards for recovery planning by insured national banks, federal savings associations, and federal branches of foreign banks with average total consolidated assets of $50 billion or more (collectively, covered banks).

That asset quality is apparently strong enough for ratings agencies to overlook the massive gearing embedded in the model: nearly 13x EBITDA based on 2019 expectations (dependent on asset sale trends.

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it’s fair to say, redrew the map of global business. Consider that when the Goldman analyst coined the term, Brazil, Russia, India, and China accounted for $2.7 trillion in GDP, or 8% of the world.

HR 1856 H. R. 1856. To amend title 28, United States Code, with respect to certain tort claims arising out of the criminal misconduct of confidential informants, and for other purposes. IN THE HOUSE OF REPRESENTATIVES. April 3, 2017.