Sharga: Several more years with nearly 1M foreclosures per year --

The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.
Sharga recently left RealtyTrac, where he helped build a network that tracked foreclosure filings across the country. Recently, analysts at Bank of America Merill Lynch estimated REO […]

A deal that wouldn’t sting --

After months of back and forth, a deal that is supposed to punish large financial institutions for foreclosure misconduct may be nigh.
While the exact terms remain under wraps, some aspects of this agreement — between banks on one side, and the federal government and a raft of state attorneys general on the […]

Monday Morning Cup of Coffee --

A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues:
Last week, the Federal Housing Finance Agency announced its plan to tweak the Home Affordable Refinance Program to try and help more underwater borrowers refinance into lower-rate mortgages.
President Obama even appeared on the Tonight Show to further spread the message […]

BofA stock up more than 4%, DJIA ends fourth week of gains --

Bank of America (BAC: 7.35 +4.26%) lead the way Friday, as the Dow Jones Industrial Average closed out a fourth week of gains.
The benchmark index of 30 selected stocks finished the week at 12,231.11, up 22.56 points from Thursday's close.
The nation's largest mortgage lenders rose Friday, with Bank of America leading the way, followed […]

DBRS RMBS ratings now includes loan-level default data --

Ratings agency DBRS enhanced its loss model and rating methodology for residential mortgage-backed securities this week to include RMBS Insight, which measures default probability statistics at the loan level.
The method that DBRS rolled out is similar to its old RMBS rating method, except for its inclusion of  loan level data. This updated methodology includes scoring […]

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