Hat tip to daytrip for sending this along, from betabeat.com: A new wave of startups is working on algorithms gathering data for banks from the web of associations on the internet known as “the social graph,” in which people are “nodes” connected to each other by...
Thanks to the few readers who sent in the links about the Fannie/Freddie executives who had civil lawsuits filed against them today - but it doesn't look like they will be facing jail time. Excerpted from the AP: In a lawsuit filed in New York, the Securities and...
From the latimes.com: After a year characterized by grumpy partisan gridlock, Congress came up with a Thanksgiving compromise that could change the mortgage choices of buyers and refinancers in more than 660 markets across the country: It raised maximum loan limits...
A reader sent this in: An article in today's Wall Street Journal sounds like the HARP program should be named CRAP, because Fannie/Freddie are holding the line by not allowing HARP refi's on loans over 6% to appease their bond holders, and the Bond rates increased...
From Reuters: Republicans and Democrats in the U.S. Congress have agreed on a measure that would increase the maximum size of mortgage loans that can be insured by the Federal Housing Administration, a key funding source for U.S. home loans. The measure to raise the...
DOB sent in this latest bank-speak which was seen in a few media outlets, like the SFBT: CEO Brian Moynihan said Tuesday that the pace of selling its foreclosed home inventory is picking up as “tons” of investor cash comes into the market. “Where you’ve had the...
From HW: A group of 131 members of Congress sent a letter to House leaders this week, pressing for a restoration of higher limits for mortgages guaranteed by the government. Congress elevated the conforming loan limits in 2008 to allow the Federal Housing...
From Originator News: Bank of America is working "very hard" on a short sale-to-lease program for distressed borrowers who don't qualify for government-backed refinance programs. But the much-maligned bank won't move forward until it gains assurance from regulators...
Excerpts from the nytimes.com: Cutting to the chase: if you thought this was the deal that would hold banks accountable for filing phony documents in courts, foreclosing without showing they had the legal right to do so and generally running roughshod over anyone who...
From dsnews.com: HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers. In select states, from now into October of next year, buyers need a down payment of only $100 to purchase a HUD-owned REO home. The buyer must...
