March 2011

As of the end of 2010, 87.6 percent of the 32.9 million residential mortgages covered by a report from the Office of the Comptroller of… Read More »87.6 Percent of Mortgages Are Current

The Comptroller of the Currency and the FDIC released proposed rules today regarding Qualified Residential Mortgages (QRMs), which will be exempt from the risk retention… Read More »Proposed Rules for Qualified Residential Mortgages

A new study from the Center for Responsible Lending, “Fix or Evict? Loan Modifications Return More Value than Foreclosure,” found that families facing eviction outnumber… Read More »Those Facing Eviction Outnumber Those With Loan Mods by 12 to 1

Here’s another PR nightmare… Wells Fargo reportedly offered a struggling homeowner a loan modification that resulted in just $2 off his monthly mortgage payment, according… Read More »Wells Fargo Offers Homeowner $2 Loan Modification Discount

A poll released today by Rasmussen Reports revealed that 31 percent of respondents said they were underwater on their mortgages, meaning they owed more than… Read More »Nearly One Third Say They Are Underwater on the Mortgage

Southern California home sales stuttered last month, though investors and cash-buyers continued to make bets on an eventual recovery, according to a report from DataQuick.… Read More »Southern California Home Sales Lowest Since 2008

Reverse mortgages are once again under fire after the AARP filed a lawsuit against the Department of Housing and Urban Development (HUD) over the loans.… Read More »AARP Sues HUD Over Reverse Mortgages

The National Association of Mortgage Brokers (NAMB) yesterday filed a lawsuit against the Federal Reserve regarding its forthcoming ban of yield spread premiums. Effective April… Read More »Mortgage Brokers Fight For Yield Spread Premium