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January 20, 2011

NATIONWIDE   Another scandal of Ally Financial Ally Financial, one of the nation’s biggest lenders said it will withdraw all of its foreclosures in Maryland. Okay, not each one of them, just the ones signed by Jeffrey Stephan, the robo-signer, who admittedly signed thousands of files every month with no review. There are around 250 [...]

January 13, 2011

NATIONWIDE   Short sale requirements dropped by Treasury The numbers of underwater mortgages were up day by day, and homeowners didn’t qualify for loan modifications, the Obama Administration launched a program to help them out. Under the name of The Home Affordable Foreclosure Alternative program incentives are included to lenders to do more short sales. [...]

January 6, 2011

NATIONWIDE   MOODY’S PREDICTS ANOTHER HARD YEAR FOR BANKS IN 2011 The Mortgage Servicers Outlook published by Moody’s forecasts more troubles ahead for servicers regarding irregularities in foreclosure practices and documentation. More checks of the irregularities servicers have been recently under fire or could allow for definition of just how bad things were, but more [...]