Month: February 2011

Option-ARM Update

From bloomberg.com: This was the year thousands of U.S. homeowners with option adjustable-rate mortgages were supposed to default as their payments spiked. Low interest rates and a surge of early delinquencies mean the numbers probably won’t be as bad as forecast,...

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Another Blow to MERS

Hat tip to JimG for sending this along, from bloomberg.com: Merscorp Inc., operator of the electronic-registration system that contains about half of all U.S. home mortgages, has no right to transfer the mortgages under its membership rules, a judge said. U.S....

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