These banks must have a lot of money laying around.... A $10 billion settlement to resolve claims of foreclosure abuses by 14 major lenders is expected to be announced as early as Monday, several people with knowledge of the discussions said on Sunday. The settlement...
The biggest concern about mortgage rates is that they can go up without notice, leaving sellers wishing that they woulda, coulda, shoulda sold when they had the chance. From MND: Mortgage rates soared to their highest levels in months today after Minutes from the...
Bank of America Corp. has amassed $64 billion of mortgages that are at least six months delinquent and have yet to enter foreclosure, more than twice the amount held by its four largest competitors combined. The loans are monitored as part of February’s $25 billion...
Even after paying a $67 million settlement to the SEC and being banned from the mortgage industry Angelo Mozilo, founder and former president of Countrywide Financial Corp still says his company never made a loan "that we knew the borrower could not pay." Mozilo...
Hat tip to SM for sending this in from yahoo: If President Obama gets his way, a lot of folks at Fannie Mae and Freddie Mac will be paying higher taxes in 2013 -- and not just the senior executives. More than 2,000 non-executive senior managers at the two firms were...
Demand for new mortgages is finally revving up—among big spenders, anyway. Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by...
The fate of the mortgage-debt tax relief? It's going to be decided in a lame-duck session, and there doesn't seem to be enough politicians willing to create a big fight - an excerpt from the latimes.com: One key strategy question: Could the Family and Business Tax...
Hat tip to HW for publishing this story, but I'm not sure that they or Barclays grasp the full meaning - that banks are deliberately letting defaulters live for free.....for years. Loans serviced by Bank of America tend to remain in the 90-plus-delinquency state for...
From desmoinesregister.com: Financial help is moving to embattled homeowners under the $25 billion national mortgage settlement that resulted from abusive foreclosure practices by some of the nation’s largest banks. Mortgage servicers spent $10.6 billion on principal...
From NMN: The Senate Finance Committee approved a bipartisan bill before summer recess that would extend the Mortgage Forgiveness Debt Relief Act through 2013. The debt relief law spares homeowners who receive principal reductions on their mortgages from being hit...
