Tag Archives: mortgage foreclosures

CA’s AG Seeks An End To Mortgage Foreclosures In That State

California’s attorney general seems to believe we can just legislate unpleasant economic realities such as mortgage foreclosures. She wants Fannie Mae and Freddie Mac to stop foreclosing in California. Fannie and Freddie have required a $160 billion in taxpayer funds … Continue reading

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Will Banks, Pols Reach A Settlement Over Robo-Signings?

There’s still no deal by the banks to settle claims against them for improper paperwork processing on mortgage foreclosures. There is a way now for those who believe they were wrongfully foreclosed on to state their case. All the biggest … Continue reading

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Housing Decline Worst Since Great Depression

The home ownership gap between blacks and whites has grown to its widest disparity in 40 years, erasing decades of progress by blacks. Why? Because blacks disproportionately bought subprime mortgages and when the recession hit in 2008, they often found … Continue reading

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What To Do About Fannie Mae, Freddie Mac

Republicans and Democrats are squabbling about what to do with Fannie and Freddie. Republicans want to wind them down quicker. Democrats want a big government role in the mortgage market. Fannie and Freddie don’t want to write down loan principal … Continue reading

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The Coming Foreclosure Wave

It looks like the rate of foreclosures is going to get worse, putting more downward pressure on home prices and increasing the number of mortgage foreclosures and the vicious cycle repeats. After much examination of their foreclosure processes, the big … Continue reading

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Bank of America On The Brink

The FHA agency is suing the major banks for selling mortgage-backed securities that proved to be worth little. State Attorney Generals and the Barack Obama administration want to extract $20 billion from the banks to settle disputes over robo-signing on … Continue reading

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Banks Gradually Clearing Backlog Of Mortgage Delinquencies

Overwhelmed by the number of mortgage delinquencies, banks are overcoming their paperwork processing issues to process more foreclosures and to sell these homes and move them through the system. With each foreclosure, banks lose on average more than $40,000. For … Continue reading

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Is A Slowdown In Mortgage Foreclosures A Good Sign For The Housing Economy?

No, this slowdown is not good news. It just signals that the foreclosure market remains gummed up and inefficient. Banks are reluctant to process mortgage foreclosures for many reasons including bad public relations and their tremendous load of foreclosed properties … Continue reading

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Wells Fargo Struggling With Its Mortgage Lending Business

Wells Fargo and Bank of America have the biggest exposure of the major banks to the mortgage market. Wells Fargo is particularly struggling. State and federal investigators have been looking into the way the big lenders have handled mortgage foreclosures. … Continue reading

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Who Will Win And Who Will Lose With Mortgage Modification Plans

ST. LOUIS, Nov 04, 2008 /PRNewswire via COMTEX/ — If the U.S. experience during the Great Depression offers any guidance, imposing a temporary ban on foreclosures in response to the current financial turmoil could create unintended costs, based on an … Continue reading

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