Housing

Lenders, Servicers Scramble To Shift Foreclosure Cases To New Firms

December 17, 2010

News came out this week that foreclosures fell in November to their lowest levels in the past 18 months (http://tiny.cc/92wrq). This seemingly positive data is clearly a result of the foreclosure freeze enacted by most banks following the revelation that lenders improperly handled millions of foreclosure cases. As lenders and loan servicers scramble to correct […]

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New Appraisal Rules Frustrating Home Buyers

December 15, 2010

Recently imposed rules and regulations dictating how lenders choose appraisers are frustrating potential home buyers. It is hard enough to qualify for a loan these days but now prospective home buyers are faced with the daunting task of getting a satisfactory appraisal. Under the new rules, lenders are no longer able to hand-pick the appraisers. […]

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Housing Agencies Clash Over Mortgage Relief Program

December 10, 2010

Fannie Mae and Freddie Mac are reluctant to join in the FHA’s new program designed to assist  borrowers whose homes are worth less than they owe on their mortgages largely because US Taxpayers would be on the hook for any losses incurred. Fannie and Freddie have already cost US taxpayers more than $130 billion and has […]

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Boston Foreclosure Fighters: ‘Banks Are Deceptive In Hosts of Ways’

December 9, 2010

It is no secret that lenders’ foreclosure practices have been placed under the magnifying glass since the recent revelation that the banks’ use of robosigners called into question the validity of millions of foreclosures throughout the United States.  Recent news out of Boston focuses on a ‘host’ of deceptive practices banks are using in order […]

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492 Days From Default to Foreclosure

December 8, 2010

According to mortgage-data provider LPS Applied Analytic, 492 days have elapsed since the average homeowner in foreclosure made a mortgage payment. In short, people are defaulting on their mortgage loans faster than banks are able to effectively carry out the foreclosure process. Homeowner’s that owe considerably more on their mortgage than the fair market value of their home […]

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US Banks Likely To Face Another Round of Crisis in the Future

December 8, 2010

A recent case in New Jersey involving Bank of America ignited the “robosigner” crisis by exposing lenders’ suspect foreclosure practices and called into question the validity of millions of foreclosures throughout the US.  As a result, many experts have weighed in as to whether the lenders, by way of securitization and complex trust agreements, ever […]

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Experts Fear That Housing Recovery Still Years Away

December 8, 2010

Record high foreclosure rates, mortgage rates inching up and a surplus of distressed properties are just some of the factors that will delay a recovery in the housing sector until 2014, experts say. As mortgage rates start to rise, demand for housing will soften and home national home prices are likely to decline another 5-7% […]

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