News

Bank of America says it modified more than 64,000 Countrywide mortgages between December and March. The workouts are part of the bank’s agreement with 42 state attorneys general to settle predatory lending charges against its Countrywide subsidiary.

Existing-home sales rose in April with strong buyer activity in lower price ranges and distressed real estate, according to a new report released this week by the National Association of Realtors (NAR).

The Cincinnati-based law firm of Reisenfeld & Associates LPA, LLC has announced the firm’s acceptance of Angel status to the recently created Wingspan Portfolio Attorney Network (WPAN). As an part of this group, Reisenfeld & Associates will provide legal support to Wingspan Portfolio Advisors, LLC, a Dallas-based mortgage company specializing in servicing delinquent loans.

Equifax Inc., the consumer credit reporting agency based in Atlanta, Georgia, announced on Thursday the availability of a proprietary solution which the company says now provides even more comprehensive employer- and government-verified information for mortgage lending institutions.

The FDIC has certified Next Wave Advisors Inc. to assist the agency with a variety of real estate services, including lender workouts, asset valuation, and disposition of property acquired through bank takeovers and liquidations.

The Cincinnati-based law firm of Reisenfeld & Associates LPA, LLC has announced the firm’s acceptance of Angel status to the recently created Wingspan Portfolio Attorney Network (WPAN). As an part of this group, Reisenfeld & Associates will provide legal support to Wingspan Portfolio Advisors, LLC, a Dallas-based mortgage company specializing in servicing delinquent loans.

The federal district court for the Southern District of California in San Diego has denied Countrywide Financial Corp.‘s motion to dismiss a consolidated class action complaint against the lender, which challenges Countrywide’s subprime mortgage marketing and lending practices.

HOPE NOW announced this week that 270,000 homeowner solutions were completed in April. This is the largest number of workouts in any month since HOPE NOW began to compile data. Last month, HOPE NOW members and the mortgage lending industry modified 127,000 mortgages and completed 143,000 repayment plans.

As more people struggle to pay their mortgages, large and small banks alike have taken the hit. The FDIC reported on Wednesday that 305 banks have made the agency’s high-risk list, and more are expected as the recession and housing crisis continue.

Sales of single-family homes and condos in Massachusetts fell by double-digit percentages in April, according to a report released this week by Boston-based real estate research firm The Warren Group. Median property values in the state also continued to decline in April, but not as sharply as in recent months.