AFSA Newsbriefs

Mortgage Investors Raise Alarm as Eminent Domain Spreads

Housingwire (06/10/13) Mlyinski, Christina

�Industry quickly voiced its opposition to the intentions of several California jurisdictions to use eminent domain to seize and restructure underwater residential mortgages. Those municiplaties are n... (More)

© 2013 American Financial Services Association

Retooled Management Training Program Draws Large Numbers

The inaugural session of The EDGE � Education, Development, Growth and Enrichment � was a success, with 84 participants from 22 AFSA member companies. Held June 2-7 at Mercer University in Atlanta, th... (More)

© 2013 American Financial Services Association

FHFA to Hold Hearings on Force-Placed Insurance

American Banker (06/10/13) Horwitz, Jeff

The Federal Housing Finance Agency (FHFA) is planning to host a summit to learn more about the forced-placed insurance market. Attendance will be limited to stakeholders, meaning large banks, insuranc... (More)

© 2013 American Financial Services Association

Payday-Loan Measure Advances in Senate

The Seattle Times (06/09/13) Lovaas, Jimmy

The Washington Senate Rules Committee passed�a�bill that would allow payday lenders to make installment loans up to $1,500 with repayment periods ranging from six to 18 months. Currently, payday�lende... (More)

© 2013 American Financial Services Association

Florida Passes Expedited Foreclosure Bill

DS News (06/09/13) Franks Brock, Krista

Florida Governor Rick Scott signed a bill that�designates new requirements for filing a foreclosure.�Under�Florida H.B. 87, banks must have proof of the right to foreclose on a property before filing ... (More)

© 2013 American Financial Services Association

Oregon Court Supports Non-Judicial Foreclosures in Ruling

Brock, Krista Franks (06/07/13) DS News

�In Niday v. GMAC Mortgage LLC, an Oregon court ruled on June 10 that Mortgage Electronic Registration Systems (MERS) could legally take certain actions on home mortgages on behalf of the lender, as l... (More)

© 2013 American Financial Services Association

Number of Underwater Borrowers Drops below 10 Million

The Wall Street Journal (06/12/13) Timiraos, Nick

�Due to rising house prices, the number of homeowners who are underwater dropped to 19.8 percent at the end of March from 21.7 percent at the end of 2012 and 25.2 percent at the end of 2011, according... (More)

© 2013 American Financial Services Association

GE Names CFO Sherin to Lead Finance Unit as It Scales Back

Catts, Tim (06/12/13) Bloomberg

�Effective July 1,�Keith Sherin will lead GE Capital, succeeding retiring�Mike Neal. Sherin, who was�Chief Financial Officer for�General Electric Co.,�will lead efforts to� shrink the finance unit. Sh... (More)

© 2013 American Financial Services Association