Tag Archives: office of the comptroller of the currency

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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Are You A Victim Of Wrongful Mortgage Foreclosure?

I’m unaware of anybody who was making his mortgage payments every month as scheduled who was wrongfully foreclosed on by a lender. All the whiners are people who applied for a mortgage modification but stopped making their scheduled mortgage payments. … Continue reading

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Bad Mortgages Hold Down Bank Stocks

As long as bank stocks are in the toilet, banks aren’t going to have much money to lend out. Currently, it is hard to sell bonds backed by mortgages. As long as this market remains small, the funds available for … Continue reading

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Let’s Blame The Banks For Getting Overwhelmed By Foreclosures

Mortgage lenders aka banks lose about $40,000 per home they foreclose on. Banks do not want to foreclose, but what alternative do they have when people don’t make mortgage payments? Overwhelmed by the high number of foreclosures, banks have been … Continue reading

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How About Some Rules For Mortgage Risk?

Lobbyists must be raking in the big bucks as regulators thrash out arcane mortgage risk rules that will significantly affect the health of banks and subsequently reduce or increase the availability and price and terms of mortgages. Most experts agree … Continue reading

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Banks Face Fines For Crumby Foreclosures

Many banks have suspended their foreclosure operations for months while they review their procedures and make sure that everything they do is by the book. It appears that the Obama administration is more interested in the health of the housing … Continue reading

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How About 20% Minimum Down Payments On Homes?

If somebody has a substantial down payment on a home, they are much less likely to default. They are a better credit risk. During the go-go years of the housing boom, people bought homes with tiny downpayments, hoping to flip … Continue reading

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Banks In Trouble Over Their Foreclosure Process

The U.S. government regulators are investigating the major lenders for their foreclosure operations. They are close to taking action to penalize banks. Mortgage servicers are accused of breaking the law. These attacks on banks should be popular with much of … Continue reading

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Banks Must Be Tiring Of Modifying Mortgages

If somebody has lost his job, what is the point of modifying his mortgage? If he doesn’t have solid income every month, then how is he going to make a mortgage payment. Unemployment is around 10% and there is little … Continue reading

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Bank Complaints Way Up

Despite all the new regulations, complaints about banks are soaring. Or maybe the increased regulation is inciting more complaints. I am sure people would rather complain about banks than get their own finances in order. The Washington Post reports: Complaints … Continue reading

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