California Homeowners Mount a Growing Protest Movement Against Foreclosures
By Peter Dreier, Huffington Post, September 29, 2011

Rose Gudiel is on the front lines of a growing protest movement to stop banks from foreclosing on families victimized by the economic crisis and abusive banking practices.

Students rally against foreclosures
By Elizabeth Carr, The Brown Daily Herald, September 29, 2011

Over 60 protesters gathered to challenge Bank of America and rising home foreclosures in front of the bank's building in downtown Providence yesterday afternoon.

Bernanke calls for more housing help from Washington
By Paul Jackson, HousingWire, September 28, 2011

Federal Reserve Chairman Ben Bernanke delivered a speech Wednesday afternoon on emerging market economies, but it was his remarks about the state of the still-ailing U.S. economy in a Q&A after the speech that garnered the most attention.

Letters: Banks, not courts, the problem with foreclosures
By Jim Weix, The Palm Beach Post, September 28, 2011

The Florida Bankers Association is hoping that the Republican majority in the Legislature will allow banks to again cheat taxpayers, homeowners and customers in Florida ("Can default fast track revive Fla.?")

Proprietary Modifications Unchanged, Foreclosure Starts Rise
By Krista Franks, DSNews, September 28, 2011

Servicers completed about 56,000 proprietary permanent loan modifications in the month of August – similar to their July efforts. Most of these modifications included reduced principal and interest payments and fixed interest rates for five years or more, according to HOPE NOW data released Wednesday.

Mortgage assistance a success in state
By Sam Spatter, The Pittsburgh Tribune-Review, September 29, 2011

A $1 billion federal program to help homeowners avoid foreclosure apparently is having success in Pennsylvania, but it won't meet its goals nationwide, officials said.

Home Prices Up in July in 17 Cities
By Sarah Halzack, Washington Post, September 27, 2011

Home prices rose in 17 U.S. cities in July, according to the Case-Shiller Home Price Index, a closely watched measure of the health of the nation’s housing market. Nationally, prices were up 0.9 percent from the previous month, exceeding analysts’ expectations.

Freddie Mac Loan Deal Defective, Report Says
By Gretchen Morgenson, New York Times, September 27, 2011

Freddie Mac used a flawed analysis when it accepted $1.35 billion from Bank of America to settle claims that the bank misled it about loans purchased during the mortgage boom, according to an oversight report released on Tuesday.

Detroit's Riverfront Towers Faces Foreclosure After $55M Mortgage Default
By Robert Snell, Detroit News, September 27, 2011

The Riverfront Towers apartment complex faces foreclosure after its owners defaulted on a $55 million mortgage, and lawyers fear the landmark high-rise, where civil rights icon Rosa Parks died, could fall into disrepair.

When Investing in Foreclosures, Turn-Key is Key
By Diana Olick, CNBC, September 27, 2011

It was just hitting 105 degrees in Dallas when Phillip Carter herded a group of Australian investors onto a bus and headed out to see some previously foreclosed properties. Cowboy to cowboy, Carter tells them the Dallas market is ripe for profit, as rental demand surges and rents head higher. The difference in his business model is that the cash is ready to flow, immediately.

7 Ideas to Jump Start the U.S. Economy
By Jim Saccacio, Forbes, September 22, 2011

This is my first Forbes blog post. What I want to accomplish here is to present housing facts, have some fun with you, the reader, and most importantly, solicit your opinions. So let’s get started. Let’s face it, the economy isn’t working! Here are seven things Washington can do right now to get Americans employed and jump start the U.S. economy:

Fannie Mae Cited for Failing to Stop Robo-Signing
By Derek Kravitz, Associated Press, September 23, 2011

Fannie Mae missed chances to catch law firms illegally signing foreclosure documents and its government overseer did not take the right steps to ensure Fannie was doing its job, federal regulators say. The Federal Housing Finance Agency's inspector general said in a report Friday that Fannie failed to establish an "acceptable and effective" way to monitor foreclosure proceedings between 2006 and early 2011.

Housing Slump Hits New Mortgage Loans
By Nick Timiraos and Alan Zibel, Wall Street Journal, September 23, 2011

Mortgage lending declined last year amid weak demand and tight credit standards, with particularly sharp credit contractions in neighborhoods with many foreclosures, according to the Federal Reserve.

Housing Lobby in Rare Defeat on Mortgage Limits
By Alan Zibel, Wall Street Journal, September 22, 2011

The housing lobby, a powerful voice on Capitol Hill, is running into trouble advancing its agenda.A push by the industry to stave off a decline in the size of mortgages that can receive government backing has fallen flat. It marks a rare defeat for an industry with considerable clout

Crash in Home Prices, Tight Lending Blocked 2.3 Million Refis
By Alan Zibel, Wall Street Journal, September 22, 2011

A new study by the Federal Reserve puts a number on a perplexing issue that has been on the minds of top officials in Washington of late. It finds that tight mortgage-lending standards and dramatic declines in home prices prevented about 2.3 million U.S. homeowners from refinancing last yea

Moody's Downgrades Big Banks on Changed Policy
By Alan Zibel, Reuters, September 21, 2011

Moody's Investors Service lowered debt ratings for Bank of America Corp, Citigroup Inc and Wells Fargo & Co on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders.

Kentucky A.G. Backs New York's Schneiderman In Foreclosure Settlement
By William Alden, Huffington Post, September 22, 2011

Kentucky Attorney General Jack Conway has added his name to a list of state law enforcers who fear that a settlement being negotiated among government officials and big banks isn't backed by a sufficient investigation into potential wrongdoing.

Existing Home Sales Jump 7.7 Percent in August
By Jason Lange, Reuters, Sept. 21, 2011

Existing home sales rose more than expected in August to the fastest annual pace since March as falling prices and low interest rates drew more buyers into the market, the National Association of Realtors said.

Five Years After Peak, Still No Bottom Seen in Housing Market
By Roland Jones, MSNBC.com, Sept. 21, 2011

Five years after U.S. home prices peaked, overall expectations for the nation’s housing market are still dim, according to a survey of economists, real estate experts and investment strategists.

Rick Scott, GOP Look at Taking Courts Out of Florida Foreclosure Process
By Janet Zink, St. Petersburg Times, Sept. 21, 2011

The push is on in Florida to cut the courts out of the foreclosure process. Supporters of the concept, which is used in nearly 30 states, say it will speed foreclosures, get houses back onto the real estate market and boost the economy. Opponents say it puts property owners at the mercy of banks

10.4 Million More Mortgages Set to Default
By Jon Prior, HousingWire, Sept. 20, 2011

Roughly 10.4 million mortgages, or one in five outstanding home loans in the U.S., will likely default if Congress refuses to implement new policy changes to prevent and sell more foreclosures, analyst Laurie Goodman from Amherst Securities Group, told a Senate Subcommittee on Tuesday.

Mortgage Debacle Costs Banks $66 Billion as Suits Sap Profit
By James Sterngold, Bloomberg, Sept. 16, 2011

Faulty mortgages and foreclosure abuses have cost the nation’s five biggest home lenders at least $65.7 billion, according to a tally by Bloomberg News, and new claims may push the industry wide total to twice that amount.

Ranieri: Housing Could Sink Economy
By Nick Timiraos, Wall Street Journal, Sept. 19, 2011

The housing market’s problems aren’t going away, but policy makers and industry officials appear to be running away from them, mortgage-bond pioneer Lewis Ranieri told an audience of financial industry executives on Monday.

Effort on Home Loans Stalls
By Nick Timiraos and Ruth Simon, Wall Street Journal, Sept. 19, 2011

A year after U.S. banks slowed down the foreclosure machine as a result of pressure from judges and regulators, the foreclosure process remains snarled. Last September, GMAC Mortgage LLC, one of the nation's largest servicers of home loans, suspended sales of some foreclosed homes and put a moratorium on evictions of many borrowers behind on their payments. Other financial firms soon made similar moves, embarrassed by revelations of "robo-signing" by employees who signed off on hundreds of loans a day and falsely claimed they had personally reviewed documents giving the bank the right to foreclose.

Nevada AG Puts Bank of America on Notice Over Foreclosures
By Buck Wargo, Vegas Inc., Sept. 19, 2011

Call it Nevada’s version of David versus Goliath. As foreclosures continue and homeowners cry foul against lenders in their bids to stay in their homes, Nevada’s Attorney General Catherine Cortez Masto is taking on Bank of America in federal court. And the issue is going to heat up as Cortez Masto’s office investigates BofA and other parties in the foreclosure process. She says criminal charges are likely coming to the industry soon, which could provide more ammunition for her foreclosure fraud case.

Foreclosure Woes May Hurt Obama in 2012
By Nancy Benac, Associated Press, Sept. 17, 2011
 
President Obama's road to reelection is lined with lots of boarded-up houses. Although the high unemployment rate dominates talk in Washington, for many voters, the housing crisis may well be a more powerful manifestation of a sick economy. In an unfortunate twist for Obama, the problem is at its worst in many of the battleground states that will be decisive in determining whether he gets another term.

New Nevada Law Protects Against Abuses
By Las Vegas Sun (Editorial), Sept. 18, 2011

Nevada Attorney General Catherine Cortez Masto said her office has fielded plenty of complaints about the foreclosure crisis, including many in which homeowners are questioning the fairness of the process. A bill passed by the Legislature this year should help. Assembly Bill 284 will tighten the foreclosure process, increasing the requirements of lenders planning to foreclose. It takes effect next month.

Homebuilders' Outlook Gets Even Worse in September
By Derek Kravitz, USA TODAY, Sept. 19, 2011

The National Association of Home Builders said Monday that its index of builder sentiment in September fell to 14 from 15. The index has been below 20 for all but one month the past two years.A reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, peak of the housing boom.

Law Firm Flourishes in Mortgage Bust
By Brady Dennis, Washington Post, Sept. 16, 2011

The partners at the law firm of Quinn Emanuel Urquhart & Sullivan concluded a few years ago, before the financial crisis, that there was simply too much competition for representing major banks.