Foreclosures Reach Lowest Quarterly Level Since 2007
Foreclosures Reach Lowest Quarterly Level Since 2007
By Brady Dennis, Washington Post, April 12, 2012
Foreclosure filings fell during the first quarter of 2012 to their lowest levels since the housing market began its collapse nearly five years ago, according to new data from the firm RealtyTrac.
Home Prices Close to Bottoming, To Rise in 2013
By Lucia Mutikani, Reuters, April 12, 2012
The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of foreclosures could threaten the recovery, according a Reuters poll of economists.
Consumer Regulator Seen Pushing Loan Writedowns
By Maya Jackson Randall, Wall Street Journal, April 10, 2012
As the federal regulator for Fannie Mae and Freddie Mac ponders cutting mortgage-loan balances for more Americans, U.S. House Republicans are eyeing the role of another independent agency – the Consumer Financial Protection Bureau. Republicans on the House Oversight Committee are accusing the federal government’s newest financial regulator of working behind the scenes to tilt other agencies in favor of cutting mortgage balances for more distressed borrowers, a politically-charged issue known as principal writedowns.
Would Mortgage Write-downs Spur More ‘Strategic Defaults’?
By e-Credit Daily, April 10, 2012
The regulator over Fannie Mae and Freddie Mac will decide this month if the two taxpayer-subsidized mortgage financing companies will embrace mortgage write-downs as part of the Obama’s Administration’s primary foreclosure prevention program.