Hutchens Law Firm, a leading default service law office based in North Carolina, announced that it has opened an office in Columbia, South Carolina. The new Columbia office is the fourth for Hutchens Law Firm and the first in South Carolina.
Read More »FHA Officer to Join CFPB
The Federal Housing Administration (FHA) will be losing another officer when Patricia McClung, senior single family housing policy adviser at FHA, joins the Consumer Financial Protection Bureau (CFPB) next month as the assistant director of mortgage markets. Earlier this week, FHA commissioner Carol Galante announced her intention to step down from her post at the end of the year.
Read More »Fed & FDIC Provide Resolution Plan Direction
Financial institutions received additional guidance from the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Friday regarding resolution plans which the institutions will be filing in December for the second time.
Read More »Investors Sue Federal Government Over GSE Profits
New York-based hedge fund giant Pershing Square Capital Management sued the U.S. government on August 14, alleging that common stockholders in Fannie Mae and Freddie Mac have been short changed since the government began sweeping profits from the GSEs into the U.S. Department of Treasury starting in 2012.
Read More »Home Sales Decline for First Time in Five Months
Home sales for July decreased slightly from the previous month after increasing for four months in a row, according to the July 2014 RE/MAX National Housing Report released on August 14. Meanwhile, home prices fell marginally month-over-month but increased year-over-year.
Read More »TARP Takes Another Step Toward Winding Down
The U.S. Department of the Treasury announced on August 14 that it plans to continue selling its shares of common stock in Ally Financial, thus further reducing its investment in the Detroit-based lender.
Read More »Nonprofits Combine Efforts to Improve Housing Opportunity
The Florida-based nonprofit network NeighborWorks announced the establishment of a new partnership between all 10 of its members. The new group will be a collective effort to increase housing opportunities throughout the state of Florida.
Read More »Florida Housing Market Recovering But Still Not ‘Healthy’
In Florida, the median price of homes is increasing and sales of single-family homes have gone up, Florida Realtors reported in its Q2 2014 report released on August 12. However, RealtyTrac's July 2014 U.S. Foreclosure Market Report released on August 14 found that Florida had the highest state foreclosure rate in the nation for the 10th consecutive month despite a 30 percent year-over-year decrease.
Read More »Foreclosure Filings Up in July
Foreclosure activity on U.S. housing units showed a 2 percent increase in July from the previous month but was still down 16 percent from the same month last year, according to RealtyTrac's July 2014 U.S. Foreclosure Market Report released on August 14.
Read More »New Jersey Lender Settles Complaint
New Jersey-based nationwide residential lender Freedom Mortgage Corporation agreed to pay $104,000 in a discrimination settlement with the U.S. Department of Housing and Urban Development, HUD announced on August 13.
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