TITLE

Deal Would Recycle Foreclosed Homes

AUTHOR(S)
Launder, William
PUB. DATE
November 2007
SOURCE
American Banker;11/30/2007, Vol. 172 Issue 230, p17
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the plan of New Vista Asset Management, a marketer and manager of repossessed homes, to partner with U.S. federal mortgage lender Fannie Mae in promoting foreclosed properties as affordable housing. The companies will use New Vista's network of mortgage lenders to promote foreclosed properties in minority communities.
ACCESSION #
27734126

 

Related Articles

  • Countrywide in Property Pact. Berry, Kate // American Banker;4/28/2008, Vol. 173 Issue 81, p10 

    This article discusses a partnership between Countrywide Financial Corp. and New Vista Asset Management to market foreclosed properties in minority neighborhoods. New Vista will provide seminars for first time home buyers interested in foreclosed properties in these neighborhoods. Countrywide...

  • Fannie Puts FICO Floor at 580. Collins, Brian // National Mortgage News;4/14/2008, Vol. 32 Issue 28, p12 

    The article reports on the issuance of a new seller guide by Fannie Mae in the U.S. The guide aims to reduce the underwriting flexibility lenders enjoyed under Fannie's affordable housing product line known as MyCommmunityMortgage and Expanded Approval. Fannie will no longer accept borrowers who...

  • Fannie: Minorities see better chance to own homes. Kleege, Stephen // American Banker;4/23/1998, Vol. 163 Issue 76, p8 

    Focuses on a survey conducted by the Fannie Mae Foundation on the prospects of home ownership among blacks and Hispanics, in the United States. Number of African-Americans and Hispanics that were surveyed; Percentage of African-Americans who perceived special obstacles because of their racial...

  • The Housing Rescue Law: Boon to Borrowers, But Bane to Taxpayers? Brannum, Robert // Banking New York;Fall2008, Issue 7, p8 

    The article examines the objectives and impact of the housing relief law. The objectives include helping an estimated 400,000 homeowners with lower-cost loans to avoid foreclosure, helping the mortgage market recover, and bailing out mortgage lending agencies Freddie Mac and Fannie Mae. The...

  • Foreclosure Sales Strategy Aims to Give Owners an Edge Over Investors. Allen, Mike // San Diego Business Journal;9/20/2010, Vol. 31 Issue 38, p6 

    The article reports on the impact of home foreclosures in California on real estate firm New Vista Asset Management owned by Jim Park and Gary Acosta. According to their prediction, the trend will continue to increase in the year and it will be beneficial to their company since the portfolios of...

  • Pacific Paradox. Berry, Kate; Terris, Harry // American Banker;6/28/2007, Vol. 172 Issue 124, p3 

    This article says that although delinquency and foreclosure rates are rising in California, the home prices keep rising on a year-over-year basis. This dichotomy has stumped many experts who are concerned since accounts in California account for 48 percent of mortgages in the nation. The median...

  • Fannie Mae Declares Itself a Leader In Reaching out to the Underserved. Sichelman, Lew // National Mortgage News;4/1/2002, Vol. 26 Issue 27, p10 

    Focuses on the offering of mortgage funds to minority and low-income families by Fannie Mae Corp. in the U.S. Competition with the Federal Housing Administration in providing public funding for housing; Commitment of the company toward minority homeownership; Contribution to the American Dream...

  • New Lawyer Incentives to Encourage Workouts. Berry, Kate // American Banker;11/9/2007, Vol. 172 Issue 217, p17 

    This article reports that to stem the tide of foreclosures, Fannie Mae has begun paying incentive fees to foreclosure lawyers who qualify delinquent borrowers for repayment plans or loan modifications. Michael A. Quinn, a senior vice president said in an interview that the program is designed to...

  • GSE Shows Some Caution on Housing. Muolo, Paul // National Mortgage News;11/25/2002, Vol. 27 Issue 10, p8 

    Reports that Fannie Mae has expressed caution about underwriting mortgage loans in local housing markets in the U.S. Key issues of interest; Analysis of pertinent topics and relevant issues; Implications on mortgage lending.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics