A federal judge ruled that former Countrywide CEO Angelo Mozilo must face allegations of securities fraud and insider trading in court, saying that the quality of loans that the mortgage lender was making would be of material interest to investors.
Read More »Survey shows Continued Volatility in Commercial Real Estate Market
The future of commercial real estate is still on unstable ground. According to a recent quarterly survey of more than 100 senior commercial real estate executives, conducted by the Real Estate Roundtable, difficulty in the commercial real estate sector is far from over.
Read More »Lawmakers Say Regulators are Cracking Down too Hard on Banks
Bank regulators are punishing the wrong institutions for the financial crisis and are exacerbating the credit crisis by being overzealous in their restrictions on banks, a top Democratic lawmaker said.
Read More »Fitch Reviewing Older CMBS for Downgrades as Market Deterioration Continues
After downgrading some 20 percent of its recent vintage commercial mortgage-backed securities (CMBS) issues, Fitch Ratings is undertaking a thorough review of pre-2006 issues for possible downgrade.
Read More »Survey Shows Mainly First-time Homebuyers to Benefit from Proposed Tax Credit Extension
With the proposed extension and modification of the tax credit for homebuyers pending before Congress, results of a real estate market conditions survey completed by Campbell/Inside Mortgage Finance Monthly show that first time homebuyers will benefit more than current homeowner.
Read More »Showhomes Warns Homeowners with Vacant Homes for Sale
With the number of foreclosures continuing to grow and the surge of vacant homes on the market, homeowners are becoming increasingly susceptible to scam artists peddling questionable services.
Read More »New President Appointed to Technology Subsidiary of UnitedTech Lender Services Inc
UnitedTech Lender Services Inc. (UTLS), a California based business solutions company, named Patrick Kopins as president of its subsidiary, UTLS Technology Services.
Read More »New Partnership Emerges in Hopes of Organizing REO Business
Recently, BFC Ventures signed agreements to team up with Streamline REO.
Read More »Hawaii Mortgage Lender Faces Serious Consequences from HUD
In recent news from the Mortgage Review Board (MRB) of the U.S. Department of Housing and Urban Development (HUD), a proposal to permanently withdraw the HUD/FHA approval of Financial Mortgage USA, Inc. (FMUSA) was announced.
Read More »Bank of America Simplifies Loan Terms for Borrowers
In an effort to allow borrowers to review loan details in plain language, Bank of America has created a simple one-page summary of key loan terms, now available for various loans.
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