A new bill written up by California Assemblymember Bob Blumenfield (D-San Fernando Valley) calls for a $20,000 fee to be charged to banks for every… Read More »Bill Calls for $20,000 Fee for Each California Foreclosure
Fico, the creator of the almighty Fico score, says enhancements in its analytic modeling allow it to identify borrowers who are over 110 times more… Read More »Fico: Some Homeowners 110 Times More Likely to Strategically Default than Others
Notices of Default (NoDs), the first step in the foreclosure process, fell 2.2 percent in the first quarter to 68,239, according to analytics firm DataQuick.… Read More »California Mortgage Defaults Lowest Since Early 2007
A new bill aims to clear the growing foreclosure backlog by allowing buyers to dip into their retirement accounts without penalty. The Housing Recovery Act… Read More »New Bill Would Allow Use of Retirement Funds to Purchase Foreclosures
Gone are the days of option arms and stated income. Going forward, the Federal Reserve wants a minimum set of mortgage underwriting standards implemented on… Read More »Fed Unveils Minimum Mortgage Underwriting Standards
Formal enforcement action was taken against eight large bank mortgage servicers and two third-party service providers today by the Office of the Comptroller of the… Read More »Mortgage Servicers Penalized for Faulty Foreclosure Practices
If you’re having trouble keeping up with mortgage payments, which we know many of you are, there’s a new solution. It might be a little… Read More »Can’t Pay Your Mortgage? Turn Your Home Into a Billboard
One of the nation’s top homebuilders plans to buy its own homes and rent them out. Beazer Homes introduced its “Pre-Owned Homes Division” today, which… Read More »Homebuilder Plans to Buy Its Own Homes
