FDIC Chairwoman Sheila Bair said the ultimate success of loan modifications depends on the direction of the economy, during remarks at the Chicago Federal Reserve… Read More »Bair: Loan Mod Success Dependent on Direction of Economy
As expected, the FHA has begun relying on government appropriations to operate, the first time in its 75-year history. Of course, the $800 million in… Read More »FHA Bailout Gets Underway
Foreclosure relief came to thousands of South Carolina residents yesterday after the state’s highest court put the brakes on certain pending foreclosure sales, the AP… Read More »South Carolina Judge Halts Foreclosures
More than a fifth of homeowners nationwide are now underwater, meaning they owe more on their mortgage than the home is worth, according to a… Read More »One in Five Homeowners Upside Down on Mortgage
GMAC reported a first quarter loss of $675 million thanks to elevated credit-related costs, valuation adjustments on mortgage servicing assets, and weaker performance on both… Read More »Mortgage Losses Drive GMAC First Quarter Loss
Good news. Beginning next year, former bank robbers, felons, and mortgage fraudsters will no longer be able to sell mortgages in the state of Florida… Read More »Legislation to Bar Criminals from Selling Mortgages in Florida
The Laborers’ International Union of North America (LIUNA) has suggested that a new assembly bill be introduced in California to bar homebuilders from involvement in… Read More »Bill Aims to Push Homebuilders Out of Mortgage Biz
