More on this year's bailouts du jour - from MND: Acting Federal Housing Finance Agency Director Edward J. DeMarco spoke to the Boston Security Analysts Society on Wednesday, in part defending his stand against principal reductions for Freddie Mac and Fannie Mae Loans....
Hat tip to evansea for sending this along from HW: The nation's largest banks are charging borrowers who refinance under the Home Affordable Refinance Program significantly higher rates than other types of refinance loans, according to Amherst Securities Group. HARP...
Excerpts from the latimes.com: The federal government's response to the home mortgage crisis always has been an exercise in living down to one's lowest expectations. The $25-billion settlement with five big banks over foreclosure abuses that U.S. housing officials and...
From the latimes.com: The most ambitious federal mortgage program to date aimed at millions of underwater homeowners is poised to take off in the coming two weeks, yet some key issues could hinder borrower participation. One of them involves something most owners know...
Hat tip to Stormin for sending this in, and who said, "we gotta do something":
Thank you taxpayers! From HW: The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday. Officials announced several critical changes to HAMP, including...
CR outlined on his show how the Fannie/Freddie HAPR refinances will escalate in March when they change to automated underwriting, and loosen the guidelines by not requiring appraisals or income verifications. See more details here:...
Thanks to everyone who participated in the blog talk radio show last night with Bill McBride! Based on the responses here and at CR, people enjoyed hearing from Bill, and are encouraging him to do more - hopefully we can do it again. Here is the link to the two hours:...
From Huff: Less than 20 percent of homeowners who theoretically qualify for a government mortgage modification are actually eligible, according to data released Monday by the Treasury Department. Although roughly 4.6 million U.S. homeowners have missed at least two...
From theenterpriseblog: This could be just the beginning. If President Barack Obama’s legally dodgy appointment of Richard Cordray to head the consumer finance agency should stick, it may open the door to more such actions. Here’s Jaret Seiberg of the Washington...
