U.S. District Judge Victor Marrero in the U.S. District Court for the Southern District of New York ruled that there was no evidence that Goldman knew the securities would fail or that Goldman failed to disclose any known risk to the securities.
Read More »Conservatorship Continues Seven Years Later With No End In Sight
While many housing stakeholders and lawmakers agree that the conservatorship needs to end, the issue of the GSEs' future remains a source of contention. Some of the GSEs' biggest investors, such as Fairholme Funds and Pershing Square, have filed lawsuits over the sweeping of GSE profits into Treasury, which began in 2012 when Fannie Mae and Freddie Mac returned to profitability.
Read More »Foreclosure Inventory and Serious Delinquencies Are Down to 2007 Levels
Foreclosure metrics were way down across the board again in July 2015, as pre-sale foreclosure inventory dropped to its lowest level since December 2007 and completed foreclosures were down by nearly 25 percent year-over-year, according to CoreLogic's July 2015 National Foreclosure Report released Tuesday.
Read More »Martin, Leigh, Laws & Fritzlen Changes Firm Name
Kansas City-based law firm Martin, Leigh, Laws, & Fritzlen PC announced that it will begin operating under a new name, Martin Leigh PC.
Read More »Collingwood Group Hires Former Freddie Mac Executive
The Collingwood Group, a Washington, D.C.-based business advisory firm, announced that Paul Mullings has joined the company as a managing director supporting the firm in business advisory and risk management and compliance practices.
Read More »More Than Half of Current HELOCs Facing Payment Shocks Over the Next Two Years
Home equity lines of credit (HELOCs) originated during the housing bubble years of 2005 to 2007 have either reached or will soon reach their 10-year "end of draw" period, at which point borrowers will face a payment shock that may cause delinquency rates among HELOCs to rise substantially.
Read More »Federal Judge Dismisses Two Fraud Lawsuits Against Ocwen
U.S. District Judge William Dimitrouleas in the U.S. District Court, Southern District of Florida, dismissed lawsuits filed by Ocwen Financial shareholders and Altisource Portfolio Solutions shareholders accusing the Atlanta-based servicer of fraud.
Read More »Housing and the Economy Have Returned to a Virtuous, Supportive Cycle
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Jonathan Smoke, Chief Economist with Realtor.com.
Read More »Nomura’s Penalty in Mortgage-Backed Securities Lawsuit Increased to $839 Million
Nomura Holdings and the Royal Bank of Scotland (RBS) have agreed to pay an extra $33 million in addition to the $806 million a judge ordered them to pay for allegedly misrepresenting the quality of mortgage-backed securities sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.
Read More »Freddie Mac Announces Extensions of State Foreclosure Timelines in 34 Jurisdictions
Freddie Mac has announced that as part of the periodic review, state foreclosure timelines have been extended in 34 of 55 jurisdictions for all foreclosure sales completed on or after August 1, 2015.
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