Vice President Joe Biden, HUD Secretary Julián Castro, and the Obama Administration say they are are committed to leveling the playing field for all Americans and increasing access to safe and affordable housing.
Read More »AACER: Bankruptcy Filings Continue Yearly Tumble, Falling 10 Percent In March
The total number of bankruptcy filings year-to-date for the first three months of 2015 is 205,703, compared to 231,839 for the first three months of 2014. The average number of filings per month for the first three months of 2015 is 68,258, down from 2014's monthly average of 75,840. The state with the most cumulative filings year-to-date is California with 20,984, followed by Illinois at 15,031. Florida was a close third at 14,361.
Read More »Study Reveals Housing Market To Be At Its ‘Healthiest’ Level Since 2001
In its first-ever analysis of the U.S. housing market released Thursday, Nationwide Economics indicated that the national market was at its healthiest level in 14 years.
Read More »Former Senator, Ex-FDIC Chair Denounce FHFA’s Conservatorship of GSEs
Isaac and Kerrey contend that the FHFA's conservatorship of Fannie Mae and Freddie Mac was not intended to be a long-term solution to the problem, yet the enterprises are in a "state of limbo" because no end is in sight to the conservatorship.
Read More »HOPE NOW Planning Loss Mitigation Outreach Events Nationwide in 2015
HOPE NOW announced that from its creation in 2007 until the end of 2014, the mortgage industry has completed more than 23 million non-foreclosure solutions for homeowners, including 7.3 million permanent loan modifications. In January 2015, lenders and servicers offered homeowners another 158,000 non-foreclosure solutions.
Read More »Appellate Court Upholds District Court’s Ruling in Favor of MERS in Wrongful Foreclosure Claim
The Ninth Circuit Court of Appeals on Wednesday upheld a decision by a district court that dismissed a borrower's wrongful foreclosure claim against Mortgage Electronic Registration Systems, Inc. (MERS), according to an announcement from MERSCORP Holdings, Inc.
Read More »Former Fannie Mae CEO Testifies in FHFA v. Nomura Trial
When he was asked if Fannie Mae could have predicted the magnitude of the housing crash, Mudd said the GSE's predictions "undershot" what eventually happened and that to his knowledge, no one at Fannie Mae could have accurately predicted the extent of the housing crisis.
Read More »Massachusetts AG Assists Homeowners Who Benefited from Settlement Over Unlawful Foreclosures
The settlement was reached between four banks (Bank of America, JPMorgan Chase, Citi, and Wells Fargo) and the AG in January 2015 in Suffolk Superior Court to resolve claims that the banks lacked legal authority to foreclosure on homes when they did not own the mortgages on those homes.
Read More »Legal Technicalities May Let Defaulting Borrowers Keep Their Homes Without Paying
The issue has been particularly hot in judicial foreclosure states such as Florida and New Jersey, where the foreclosure process must pass through the courts and signed by a judge to be completed.
Read More »Consumer Sentiment Strong; Attitudes Positive Toward Wage Gains, Homebuying
While consumers remained positive toward homebuying conditions in the latest survey, the reason for the positive outlook has shifted – prospective homebuyers are now dependent on low mortgage rates as opposed to low home prices. In Q1 2015 surveys, the percentage of consumers citing low home prices was at its lowest level since 2006, while the percentage of consumers who cited low mortgage rates was at a 10-year high.
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