It looks like not only Schneiderman had the eye for suspicious settlement between The Bank of New York Mellon and Bank of America. Now investors in soured Countrywide MBSs used a legal trap Friday to stop the same settlement which Schneiderman tried to block. The plaintiff in the case, Walnut Place, represents investors in Countrywide [...]
A couple days ago the government – lacking of any ideas to solve the pressing issue – shocked the analysts with its proposal to sell pools of foreclosed homes to investors to rent. Federal agencies, including the Federal Housing Finance Agency (FHFA), HUD, and the Treasury Department recently issued a Request for Information and will [...]
NATIONWIDE Eric Schneiderman is facing pressure on Bank Foreclosure Deal As time goes by banks along with the Obama administration increasing pressure on New York Attorney General, Eric Schneiderman. It looks like the administration forgot all the bad these lenders did. Each of them is ready to sign the settlement, because this will forgive [...]
As time goes by banks along with the Obama administration increasing pressure on New York Attorney General, Eric Schneiderman. It looks like the administration forgot all the bad these lenders did. Each of them is ready to sign the settlement, because this will forgive their illegal actions, a strange move, which is against Schneiderman’s will, [...]
Since the beginning of this year Bank of America stock fell more than 50% from $15 to $7.01 and now the nation’s largest bank faces the need of cutting costs and restructure. According to the memo, obtained by The New York Times, Brian T. Moynihan, the chief executive of the bank said the hopes to [...]
NATIONWIDE The ball is in president Obama’s field now After president Obama asked for real estate professionals to think offer solutions for the distressed housing market Realogy Corp sent a letter to the president saying it is time to put real estate professionals who are on the front line each day fighting the housing [...]
After president Obama asked for real estate professionals to think offer solutions for the distressed housing market Realogy Corp sent a letter to the president saying it is time to put real estate professionals who are on the front line each day fighting the housing crisis at the head of the table to craft a [...]
The Obama administration struggles to find the way to help out the housing market and now it prepares the stage for a public-private collaboration to deal with the growing number of REO homes already flooding the market by turning them into rental properties. The FHFA, HUD and the Treasury Department issued the call for private [...]
NATIONWIDE Fannie Mae continues to ask for taxpayer’s money Nobody knows when this will come to an end: Fannie Mae, the government-controlled mortgage company said yesterday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults while the housing market struggles. Fannie Mae made dividend payments to the [...]
Wells Fargo now faces a group of lawsuits claiming the lender has a performed illegal foreclosures. The base of the lawsuits are federal rules regarding reverse mortgages that allow surviving spouses the right to purchase properties at 95% of appraised value after the death of a borrower who took out a federally insured reverse mortgage. [...]
We want to say thanks to Eureka for making our short sale possible
Roger and Lisa Pringle
Austin, Texas
