Hearing brings more censure for handling of foreclosures
Hearing brings more censure for handling of foreclosures
USA Today — November 19, 2010
Bankers, housing regulators and members of Congress agreed on this much in the week's second congressional hearing on foreclosure problems: The system needs fixing.
Aggressive lobbying defends mortgage-trading system
The Washington Post — November 19, 2010
The financial services industry has launched an aggressive campaign on Capitol Hill to bolster the legality of the way companies have turned mortgages into securities and traded them across the globe in recent years.
Fewer Fall Delinquent in Paying Mortgages
The New York Times — November 18, 2010
Even as the fight over foreclosures continues, the high tide of delinquency among homeowners has begun to recede.
Distressed Sales, Federal Programs Drive 20% Jump in Mortgage Fraud
DSNews — November 18, 2010
Mortgage fraud has increased by more than 20 percent since fraud rates reached their lowest point in early 2009, according to CoreLogic.
Washington DC creates "quasi-judicial" foreclosure process
HousingWire — November 18, 2010
Washington D.C. mayor Adrian Fenty ratified a provision this week with the aim of bringing a more judicial-type framework to the nonjudicial foreclosure system in the nation's capital. However, enforcement of the mandate is likely to add confusion to the federal district's mortgage industry.
Obama administration committed to preventing 'avoidable foreclosures'
HousingWire — November 18, 2010
Recovery in the housing market remains fragile but the Obama administration is committed to preventing "avoidable foreclosures and stabilizing" the market.