Archive for foreclosures
Are the Freddie HARP Rumors True?
You may have been hearing (also experiencing) a substantial amount of turn downs on HARP loans using LP and Open Access. I have had personal experience with this in trying to refi my rental… Read more
Bank of America Freddie Mac and Fannie Mae Denials for Modification Sent Out In Error due to ‘System’ Mistake
Letters have been going out erroneously to borrowers with Bank of America letterhead stating the following: Bank of America, N.A. 5401 N Beach St TX2-977-01-34 Forth Worth, TX 76137 borrower… Read more
Bernanke Successfully Re-Inflating Housing, Unbeknownst To Shiller
Adapted from the Wall Street Examiner. There were two major housing data releases today. One of them is important. The other was a misleading misdirection play, as it usually is. Due to its… Read more
Principal Reductions and Loan Modification without Hardship Requirements
Mr. DeMarco, who is the head of the FHFA and is a Republican, sees such a large moral danger in people cheating by going late on their mortgage to get a principal reduction and applying for a loan… Read more
Law Firm Pays $4 Million, Settles Foreclosure Abuse Probe
We are not big fans of the large mortgage lenders and servicers. MERS (Mortgage Electronic Registration Systems Inc.) is pretty far down on our list too. But besides from being overworked and… Read more
Whistleblowers Reaping Millions From Mortgage Crisis
Since February, all the focus of mainstream media has been about how much of the $25 billion mortgage settlement will filter down to homeowners. For many the relief comes too late, although… Read more
Good News for Mortgage Rules…for a Change!
So I have some good news, and even more good news. First the good news–it seems like the rule makers have been on vacation, with eight updates over the last 30 days. In fact, this is the first… Read more
Taking a Closer Look at Mixed Signals
This post is contributed by the Consumer Metrics Institute. For those of us who track the macro-econometric behavior of consumers, the past six or seven months have been (at best) challenging…. Read more
“What Ronald Reagan said about the federal government…” (Mtg. Regs Update)
I’m sure that at some point in your life, you’ve heard the three biggest lies in the world…. “Your check is in the mail.” Or: “I promise I’ll respect you in the morning.” And as… Read more
This Hurts My Brain… (On-Again, Off-Again Mortgage Origination Rules)
Can you guess how many rule updates affected JUST the origination side of the business this year? Just guess! Ok, I’ll tell you—it’s 259, or an average of 21 rule updates per month. To… Read more
