Quarterly Servicer Assessments Show Mortgage Servicers Demonstrate Considerable Improvement in Implementation of the Making Home Affordable Program Administration Will Continue to Hold Servicers Accountable for their Progress as Additional Efforts to Reach Struggling Homeowners Get Underway WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today [...]
WASHINGTON (CNNMoney) — Final details are due out this week in the $26 billion settlement to help struggling homeowners and settle charges of abusive and negligent foreclosure practices, according to President Obama’s housing chief. The Obama administration made a big announcement nearly three weeks ago, touting that 49 states had agreed on a deal with [...]
WASHINGTON (MarketWatch) — The Federal Housing Finance Agency, which overseas Fannie Mae and Freddie Mac, is already playing a leading role in helping homeowners avoid foreclosure, in contrast to how it is often portrayed, the agency’s acting chief said Tuesday. Edward DeMarco’s comments came in his prepared testimony to the Senate Banking Committee, where he [...]
How many times do brokers need to say, they never developed a single-loan program, wrote guidelines for those same programs, or underwrote and approved any consumer’s mortgage? (TheNicheReport.com) On July 21, 2010, Congress sent the final version of the Dodd-Frank Act to the President for signature. Surrounded by then Senator Chris Dodd and [...]
(TheNicheReport.com) More than three years have passed since the U.S. government placed mortgage giants Fannie Mae and Freddie Mac into conservatorship status pending a reassessment of the deep financial damage they managed to bring upon them during the heady days of the American housing bubble. Now the government agency assigned to oversee Fannie and Freddie [...]
(TheNicheReport.com) The financial instruments that brought down Wall Street in 2008 and triggered periods of economic recession around the world are once again capturing the interest of investors. Mortgage bonds backed by subprime home loans were once labeled as toxic assets in the portfolios of investors, but according to a recent report appearing on the [...]
(By Cora Currier / ProPublica) Answers to homeowners’ questions about the Independent Foreclosure Review. The administration’s website for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program. A list of HUD-approved housing counseling agencies nationwide. Tips for homeowners from the Federal Trade Commission. [...]
To cut or not to cut principal balances, GSE’s stuck between a rock and a hard place. In the wake of the announcement of the $25 billion settlement between state attorney generals and the five major mortgage lending banks in the United States, government-sponsored enterprises Fannie Mae and Freddie Mac have indicated that they [...]
“As the leading advocate for housing and homeownership, NAR is strongly opposed to elements of President Obama’s budget proposal that would limit itemized deductions, including the mortgage interest deduction, for thousands of families. “NAR firmly believes that the mortgage interest deduction is vital to the stability of the American housing market and economy. We urge [...]
BANK ERROR IN YOUR FAVOR! EX-HOMEOWNERS TO RECEIVE UP TO… $2,000! If you’re a recently displaced homeowner, you’ve probably already heard the fantastic news. If your bank screwed up and improperly or illegally foreclosed on your home between January 1, 2008 and December 31, 2011… the downside is that you lost your home… the [...]
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