Americas biggest mortgage servicers are closing in on a deal with federal and state officials to settle some of the thorniest foreclosure fiasco problems — including the robo-signing issue,
via NYPOST.com.
Jul 07
Jun 29
Con artists send letters telling borrowers they should begin sending their mortgage payments to a fictitious company that has begun servicing their loans. By the time borrowers find out they’ve been had, they’re out one or possibly two payments.
via latimes.com.
Jun 28
Here are five points about what to do if you have missed a mortgage payment and are having trouble affording your home:
via First Weber Group.
Jun 20
CitiMortgage, the mortgage servicing arm of Citigroup is paying borrowers an average $12,000 after completing a short sale this year.
via HousingWire.
Jun 20
New research from NAHB examines the scope of impact on housing markets from the scheduled October 1, 2011 decrease in the GSE and FHA loan limits. These loan limits determine what types of mortgages may be securitized by the GSEs, Fannie Mae and Freddie Mac, or insured by the Federal Housing Administration. Loans that fall outside of these limits would be subject to tighter credit conditions, including higher interest rates and larger downpayments.
via RISMedia.
Jun 19
To put things a bit more precisely, the mortgage securitization trust is the party that needs to be able to foreclose, but if the notes weren’t conveyed properly to it in the stipulated time frame, it does not have the legal standing to do so (presumably, a party earlier in the securitization chain can, but no one wants them to foreclose, since it would confirm that the MBS is in part if not in whole, not mortgage backed).
vianaked capitalism.
Jun 16
Prudently Managed Banks Victimized by Taxpayer-Subsidized Too-Big-To-Fail Banks; Seen and Unseen in Dodd-Frank RegulationDallas Fed president Richard Fisher blasted too-big-to-fail banks, CEO compensation, bank risk-taking, inadequacies in Dodd–Frank regulation, and unintended consequences of poor legislation in a speech in New York on Monday.
Jun 04
Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank?
Well, it has happened in Florida and involves a North Carolina based bank.
via digtriad.com.
