Wells Fargo Admits to Foreclosure Errors
Wells Fargo has finally admitted to errors involved in its foreclosure process, according to a company press release. The top mortgage lender in the nation… Read More »Wells Fargo Admits to Foreclosure Errors
October 2010
Fannie and Freddie Tab May Rise to $363 Billion
More staggering figures from the Federal Housing Finance Agency, which oversees government mortgage financiers Fannie Mae and Freddie Mac. The pair, which went into conservatorship… Read More »Fannie and Freddie Tab May Rise to $363 Billion
NY Courts to Hold Foreclosure Lawyers Accountable
The New York State court system today instituted a new rule regarding residential foreclosures in light of the ongoing robosigning accusations. Going forward, plaintiffs will… Read More »NY Courts to Hold Foreclosure Lawyers Accountable
Strategic Default Driven by Future Home Prices, Default Costs
Borrowers thinking about walking away from their homes voluntarily don’t necessarily give up because the mortgage balance exceeds the value of their homes, according to… Read More »Strategic Default Driven by Future Home Prices, Default Costs
Bank of America Resumes Foreclosures
Bank of America has decided to resume foreclosures after announcing a voluntary nationwide moratorium earlier this month. The company, which halted foreclosure proceedings amid allegations… Read More »Bank of America Resumes Foreclosures
Former Countrywide Boss to Pay Largest SEC Fine Ever
Former Countrywide CEO Angelo Mozilo will pay a record $22.5 million penalty to settle SEC charges that claim he and two other executives misled investors… Read More »Former Countrywide Boss to Pay Largest SEC Fine Ever
Home Prices Fared Best in Markets Where Borrowers Chose Fixed Mortgages
Home prices fell the least in housing markets where most borrowers took out fixed-rate mortgages, according to a perspective by Freddie Mac deputy chief economist… Read More »Home Prices Fared Best in Markets Where Borrowers Chose Fixed Mortgages
Bank of America Stops Foreclosures in All 50 States
Bank of America announced today that foreclosure sales have been halted in all 50 states amid allegations foreclosure proceedings were done hastily or improperly nationwide.… Read More »Bank of America Stops Foreclosures in All 50 States
Texas AG Calls for Foreclosure Moratorium Over Robosigners
Texas Attorney General Greg Abbott today called for a halt to foreclosures in the state so mortgage lenders and loan servicers could conduct a thorough… Read More »Texas AG Calls for Foreclosure Moratorium Over Robosigners
Seven Major Banks Told to Review Foreclosure Processes
The acting director of the Office of the Comptroller of the Currency has directed seven of the nation’s largest mortgage lenders to review their foreclosure… Read More »Seven Major Banks Told to Review Foreclosure Processes