The state of Massachusetts continued to experience an increase in foreclosure deeds during the month of May, according to a new report from The Warren Group, which also is publisher of Banker & Tradesman.
Read More »Free Foreclosure Listing Service Increases Traffic 78-Percent
Bellevue, Washington-based USA-Foreclosure.com, a free online service that lists foreclosure properties across the country, has watched its unique visitor traffic increase by 78-percent since the site’s launch in May of last year.
Read More »LandAmerica Combines Underwriting Subsidiaries
Richmond, Virginia-based LandAmerica Financial Group, Inc., said Monday that in an effort to unify the company, the real estate transaction services provider has decided to merge its Transnation Title Insurance Co.
Read More »Securities Lawsuit Filed Against First American
First American Corp. is facing a class action lawsuit that alleges the company violated the Securities Exchange Act of 1934 by dispensing material misrepresentations to the market causing market prices to artificially inflate, according to a statement issued by Oklahoma City-based Federman & Sherwood, the law firm filing the suit.
Read More »California Median Home Sale Price Drops 35.3-Percent
A new report from the California Association of Realtors (C.A.R.) reveals that home sales in the state experienced a positive 18.1-percent increase in May when compared to the same period a year ago, but home price declines persisted with the median price of a home now 35.
Read More »AIG Braces to Cover $5 Billion in Subprime-Related Write-downs
Insurance giant American International Group, Inc. is the latest company to face significant financial losses because of ties the company’s insurance units have in the subprime lending sector, according to a news report from Bloomberg news.
Read More »BofA: Countrywide Deal About to Close, Layoffs Pending
Bank of America’s (BofA) acquisition of Countrywide Financial Corp. will be completed on July 1, 2008, and followed by a series of job cuts that are expected to take place over the duration of the next two years.
Read More »Washington Governor Fines Countrywide
The same day that Countrywide Financial Corp. was slapped with lawsuits filed by two State Attorney Generals, Washington State Governor Chris Gregoire announced that her state plans to issue a $1 million fine against Countrywide for preying on minority borrowers, while also attempting to revoke the company’s license to conduct business in the Northwestern state.
Read More »FIS Honors Mackie, Wolf & Zientz
FIS Foreclosure Solutions, Inc., a division of FIS Default Solutions, recently named law firm Mackie, Wolf & Zientz, P.C. Rookie of the Year for 2008. The Dallas-based law firm opened in late 2006 with the intent of offering comprehensive default legal services to the residential mortgage servicing sector.
Read More »Housing Bill Stalls in Senate
An anticipated final vote on a Senate Housing Bill that would provide an additional $300 billion for the support of more FHA-insured mortgage loans may not occur for several weeks, Bloomberg news quoted U.
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