N.Y. AG Sues BofA, Chase, Wells Fargo Over Mortgage Database
New York Attorney General Eric Schneiderman has sued the largest U.S. banks – Bank of America, JPMorgan Chase and Wells Fargo – charging that the private “mortgage electronic registry system,” known as MERS, ...
Foreclosure Sales Rate 4 Times Faster in Non-Judicial States
The foreclosure crisis is very much a tale of two states – judicial versus non-judicial.
In the 23 states were a judge has the final say, the foreclosure pipeline has stalled, compared to the 27 states with a ...
HAMP Mortgage-Mod Rules Eased, More Write-Downs Eyed
The Obama Administration is again giving a boost to its much criticized foreclosure rescue campaign by easing mortgage modification rules, tripling incentives to participating lenders and possibly getting Fannie ...
Foreclosures 20% of U.S. Sales in 3Q, Average Price $165,322
Sales of homes in some phase of foreclosure, or those bank-owned, accounted for 20 percent of all U.S. sales in the third quarter of 2011, down from 22 percent of all sales in the second quarter, according to RealtyTrac, ...
Raw ‘Robo’ Deal? New Terms, Some Cash for Foreclosure Victims
A settlement between state authorities and five top U.S. lenders over sloppy or wrongfully processed foreclosures will include an overhaul of industry practices – a first since the housing market collapsed four ...
In Florida, Gingrich’s Freddie Mac Link Matters – Ask Romney
If New Gingrich’s consulting ties to troubled mortgage giant Freddie Mac is going to have traction for rival Mitt Romney, the topic would resonate farther in Florida, one of the states most mired in the foreclosure ...
Backlog Spurs 34% Decline in Foreclosure Filings for 2011
A total of 2,698,967 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total properties from 2010, ...
Housing’s Only Bright Spot is Multi-Family Homes: Fed Survey
Compared to earlier in 2011, the 12 Federal Reserve districts saw mostly expanded economic activity in late November through the end of the year, but the same cannot be said of the housing market.
The Fed’s most ...
2nd-Lien Mortgage Fixes Underway for 47% of Eligible
The U.S. Treasury’s program to modify the second-lien mortgages of borrowers potentially facing foreclosure has processed 54,828 loans out of 115,762 eligible, a 47 percent rate of assistance, according to figures ...
HAMP Foreclosure Rescues at 909K, But Cancellations Persist at Higher Rate
The Obama Administration’s foreclosure prevention program has started 909,953 permanent mortgage modifications through November 2011, but another 923,545 attempts at reducing monthly payments have been cancelled, ...
