Goldman Sachs' latest clever idea to make money poses a dilemma for the government as the Wall Street firm negotiates to acquire tax credits from Fannie Mae.
Read More »FHFA Documents Practices for Improving Default Risk Evaluation
Borrowers with no-doc loans are more likely to default. Borrowers in recourse states who may lose other assets in a default are less likely to walk away from a mortgage.
Read More »California AG Calls on Lenders to Outline Option ARM Modification Plans
California's attorney general asked 10 leading mortgage lenders to detail their plans for modifying option adjustable-rate mortgages (ARMs), warning that the state will be the epicenter for a new wave of foreclosures as these loans reset in the coming years.
Read More »Still No Decision on Homebuyer Tax Credit Extension: Update
There was no final word from Capitol Hill on an extension of the homebuyer tax credit this week, as was expected.
Read More »Residential Vacancies Rise in Third Quarter
The number of empty homes in the United States including foreclosures, residences for sale, and vacation properties rose during the third quarter, according to data released by the U.S. Census Bureau Thursday.
Read More »LAMCO Celebrates Two Decades of Managing the REO Default Process
Lenders Asset Management Corporation (LAMCO), a nationwide REO and default management company headquartered in Littleton, Colorado, announced its 20th anniversary Thursday.
Read More »Foreclosure Counseling Contact Removed from HOPE NOW Door Hangers
The Homeownership Preservation Foundation (HPF) has asked all HOPE NOW Alliance partners to stop using its housing counseling hotline the well-recognized 888-995-HOPE number on door hangers left behind by field service operatives at homes that may be at risk of foreclosure.
Read More »Congress Passes Higher Loan Limit Extension for Federally-Backed Mortgages
Legislation was approved by both the House and Senate Thursday that extends the higher loan limits currently in place for mortgages backed by Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA).
Read More »Mortgage Payment Habits Improve as Households’ Recession Fears Ebb
U.S. consumers are doing better about paying their mortgages on time, indicating that the worst might be over for financial stress in households.
Read More »Banks Can Handle Commercial Real Estate Losses, Geithner Says
Growing problems in commercial real estate won't set off a new banking crisis, Treasury Secretary Timothy Geithner said Friday.
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