twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/


Fannie Dismissing All Non-Judicial Foreclosures in Hawaii

All foreclosures to utilize judicial process

June 13, 2011

By MortgageDaily.com staff


A new law in Hawaii has the Federal National Mortgage Association abandoning non-judicial foreclosures in the state. In addition, the secondary lender might reverse some recent real-estate-owned filings.

Hawaii Gov. Neil Abercrombie signed SB 651 into law on May 5.

"The primary component established under this measure, the Mortgage Foreclosure Dispute Resolution Program, seeks to provide the owner-occupants of residential property in Hawaii who are facing foreclosure the opportunity to meet face-to-face with the mortgagees to possibly resolve their differences," Abercrombie's office said in a statement at the time.

But the program is only required on non-judicial foreclosures.

So Fannie Mae Friday told its approved servicers that all foreclosures in Hawaii which have not proceeded to sale and are not handled through a court of law should be dismissed. The cases should then be re-filed as judicial foreclosures.

Any new foreclosure filings must be handled as judicial foreclosures.

The policy is immediately effective.

The Washington, D.C.-based lender said that the maximum allowable foreclosure fee in Hawaii has been established at $2,200 for judicial foreclosures. The fee is in effect for all new filings in the state and pending foreclosures that are converted to judicial actions.

"Due to potential title insurance issues, Fannie Mae may be required to eliminate certain recent REO acquisitions that resulted from non-judicial foreclosures," the servicing notice stated. "Upon being notified of any eliminations, servicers must immediately restart the matters as judicial foreclosures."

The only two law firms that can be used by mortgage servicers in Hawaii are Crabtree & Olsen, PS; and Clay, Chapman, Iwamura, Pulice & Nervell, AP/ALC.

next story

back to current headlines


GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.


Political Mortgage News | Mortgage Laws
Mortgage people in politics. Political contributions by mortgage companies. Coverage of political support by lenders and executives. GSE lobbying and issues.



Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders