Justice Department's Holder and Breuer Ties to Big Banks Revealed
 |
|
HARP 2
Headlines and Blogs from Around the Web |
HAMP 2.0?Because the program was initially touted to reach between 3 million and 4 million borrowers, servicers have come under heavy criticism for a lack of performance along with the Treasury for not enforcing its guidelines more effectively. When asked if servicers should be bracing for any new changes in the last year of the program, a spokesperson would not rule any action out.Click to continue |
New York Life Getting Into Reverse Mortgages?... While there have been rumors floating around for the last few months that New York Life, one of the largest mutual life insurance companies in the United States, was looking to enter the space, a new job opening confirms the company plans to enter the reverse mortgage business.Click to continue |
The Long Term Impact of Battered FICO Scores
... Earlier FICO studies found that the deepest score declines — which create the toughest challenges for obtaining credit on affordable terms — have been among borrowers who ranked among the credit elite. Homeowners with scores in the high 700s may have lost as much as 130 points when they fell behind by three months or more on loan payments. They might have lost as much as 160 points when they negotiated a short sale with their bank and as a result had unpaid deficiency balances left over. ...Click to continue
Some Details of the AGs and Servicers Settlement Emerge
Headlines and Blogs from Around the Web |
Some Details of the AGs and Servicers Settlement Emerge... In the deal, approximately $17 billion would be set aside for principal reductions, and $3 billion would be to cover the costs of refinancing for current, underwater borrowers. The remaining $5 billion would be delivered in cash, $3.5 billion of which will help fund state and federal foreclosure mediation programs.Click to continue |
Light at the End of the Tunnel for Housing?
... Is 2012 the year the housing market turns around? Of course, no one can say for sure, but plenty of economists say signals are pointing in the right direction.
"It has become increasingly apparent that the pieces for a housing rebound next year are beginning to fall into place," wrote Barclays Capital analyst Stephen Kim in a recent report. ...
$250 Million RMBS Two Harbors and Barclays Deal Breathing Life Into the Jumbo Market
| |
|
Jim Cramer: Put Wells Fargo in Charge of Housing
| |
|
Pimco's Gross to Investors: Load Up on MBS Before the Fed Does
Headlines and Blogs from Around the Web |
Pimco's Gross to Investors: Load Up on MBS Before the Fed Does... “If the EU economies and the euro basically go down, the dollar goes up," Gross told CNBC. "It’s hard to see the Fed raising rates and thus reinforcing a higher and higher dollar making U.S. industries less and less competitive." Moreover, Gross says, "next year the expectation is that if there is a QE3, it will be mortgage-directed, and it would pay holders to load up on mortgages before the Fed does." ... |
Four More House Members Were 'Friends of Angelo'Congressional investigators said Monday that four House members received VIP discounted loans from the former Countrywide Financial Corp., the lender whose subprime mortgages was largely responsible for the nation's foreclosure crisis. Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, declined to name the four but wrote the House Ethics Committee that it should investigate the lawmakers. ... |
Fannie and Freddie's High Risk Loans Estimated at $2 Trillion
An analysis of data disclosed in new lawsuits against former executives of Fannie Mae and Freddie Mac indicates that the two own high-risk loans estimated at $2 trillion -- far more than they originally disclosed to investors.
The Securities and Exchange Commission last week announced two lawsuits filed against former senior executives at Fannie and Freddie. The defendants are accused of hiding their exposure to higher-risk loans. ...
Rep. Scott Garrett's Plan to Reforming Mortgage Markets (Video)
Headlines and Blogs from Around the Web |
Rep. Scott Garrett's Plan to Reforming Mortgage Markets (Video)Insight on the housing industry's interest in mortgage reform and the future of GSEs Fannie and Freddie, with Rep. Scott Garrett (R-NJ).Click to continue |
Google Kills Rate Comparison Shopper for Most ... for Now?
... But the closure, which happened on Nov. 21, is only temporary, sources say, as the search engine giant prepares a reboot of the service—which is a component of the Google Advisor platform that offers search tools for consumer banking and credit products including credit cards, certificates of deposit and checking and savings accounts.Click to continue
BofA Falling Behind on HARP Adoption Says Morgan Stanley Analysts
| |
|
FHFA Questioned About Fannie and Freddie's $640k MBA Annual Convention Expense Report
| |
|
Could Barney Frank's Retirement Put Dodd-Frank in Jeopardy
| |
|
The Death of a Foreclosure Mill (Timeline)
| |
|
NY Foreclosure Mill Steven J. Baum Banned From Working on Freddie Mac Loans
| |
|
Servicers a Little Excited About HARP Phase II
| |
|
Lehman Likely to Settle for .05 Cents on the Dollar for Bad Mortgages
| |
|
Goldman Facing $15.8 Billion in Law Suits Over MBS
| |
|
