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Fannie and Freddie Mortgage Write Downs - Another Bailout For Big Banks

By Donna S. Robinson | March 26, 2012
Fannie and Freddie regulator Edward DeMarco, the acting Director of FHFA, is taking a lot of heat for his reluctance to write down first mortgages for underwater homeowners. But DeMarco is rightly pointing out that the push to write down the first mortgages is merely a form of protectionism for the four largest banks in the U.S. - JP Morgan Chase, Wells Fargo, Citigroup, and Bank of America.
Mortgage, Real Estate, Residential, US Real Estate

Foreclosure Settlement between Banks and Government “Very Close”

By Mike Wheatley | January 19, 2012
As many as one million underwater borrowers deemed to be “at risk” of losing their homes could be set for a reprieve through a reduction on their mortgage principle, following reports that the government and America’s biggest banks have nearly reached a deal on mortgage aid.
Featured News, Mortgage, Real Estate, US Real Estate

California Attorney General Pulls Out Of Bank Settlement

By Mike Wheatley | October 3, 2011
California’s Attorney General Kamala Harris has announced she is pulling out of multi-state foreclosure practice negotiations which are currently under way with some of the country’s biggest banks, saying she intends to pursue her own investigations in an attempt to reduce foreclosure numbers and reform bank practices. Harris, in a letter to the committee, said […]
Mortgage, Real Estate, US Real Estate

US Banks Strive to Win Broad Liability Releases

By Allison Halliday | July 25, 2011
Apparently efforts by US banks to win broad liability releases are proving to be a major obstacle in talks to resolve foreclosure practices and mortgage servicing. The liability releases would give the US Banks protection from further state and federal probes into their mortgage practices, including the lending and securitization of loans, and would form […]
Mortgage, Real Estate Technology, US Real Estate

Short Sale Incentives For Cash-Strapped Homeowners

By Mike Wheatley | June 29, 2011
Two of the nation’s biggest lenders are giving away cash rewards to struggling Florida homeowners who agree to stave off foreclosure by doing a short sale instead, according to reports in the Florida Sun-Sentinel.   Wells Fargo and JP Morgan Chase haven’t made any official announcements about the initiative, but indebted homeowners have reported that […]
Mortgage, US Real Estate

NY and Delaware Probe Trustee Banks

By Allison Halliday | June 14, 2011
The Attorney General of New York, Eric Schneiderman, has requested more information from a number of financial institutions as part of an ongoing investigation into the way mortgages were sold to investors. Eric Schneiderman’s office has requested documents from the Bank of New York Mellon Corp and Deutsche Bank, as it continues to look into […]
US Real Estate

Faulty Paperwork Stalls April Foreclosures

By Mike Wheatley | May 15, 2011
The number of foreclosures fell in the last month as activity continued to slow down due to faulty paperwork, a survey said last week. Foreclosure numbers fell to a three-year low, with just 69,532 homes seized by banks in April, which is down 8.6% on the previous month and a third less than the same […]
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