The amount of equity American homeowners have pulled from their homes over the past three quarters has fallen considerably compared to the same period a… Read More »Cash-Out Plummets Over Past Three Quarters
As previously speculated, the Treasury and the FDIC are reportedly working on a systematic loan modification program aimed at helping roughly three million troubled homeowners,… Read More »Loan Guarantee Program in the Works
It took some time, but the future of struggling Midwestern bank and mortgage lender National City is now clear. They are being purchased by PNC… Read More »National City Finally Finds Suitor
FDIC Chairman Sheila Bair, a long-time advocate of systematic loan modifications, today proposed the idea of loan guarantees during testimony before the Senate Banking Committee.… Read More »Bair Floats Idea of Loan Guarantees to Boost Modifications
Foreclosure filings fell 12 percent in September from a month earlier, but still increased 21 percent from the same period a year earlier, RealtyTrac reported… Read More »Foreclosure Filings Slip in September Thanks to New Legislation
Wachovia today reported a third quarter loss of $23.9 billion, or $11.09 per share, compared to a profit of $1.7 billion, or 90 cents per… Read More »Wachovia Posts $23.9 Billion Third Quarter Loss
National City reported a third quarter loss of $729 million, down from the $1.8 billion loss in the second quarter but far exceeding the $19… Read More »Exit Portfolio Charge-Offs Drive Nat City Third Quarter Loss
The Mortgage Bankers Association convened in San Francisco this week for its 95th annual convention, an event marked by protests and angry sentiment from passer-bys.… Read More »Annual Mortgage Bankers Meeting Marked by Protests
Wells Fargo reported net charge-offs of $2.0 billion during the third quarter, up from $1.5 billion in the second quarter, driven primarily by its souring… Read More »Wells Fargo Home Equity Loans Sour in Third Quarter
Notice of default filings fell a whopping 61.8 percent during September in the state of California, largely due to new legislation that makes it more… Read More »California Foreclosure Activity Slumps Thanks to New Law
