NATIONAL Banks will gain FHA relief under foreclosure servicing settlement Government officials are likely to offer a sweetener for the banks sitting at the foreclosure servicing settlement table, by releasing these lenders from liability relating to their loss-mitigation efforts on delinquent FHA-insured loans, sources cited by the American Banker say. The deadline for resolving their [...]
Government officials are likely to offer a sweetener for the banks sitting at the foreclosure servicing settlement table, by releasing these lenders from liability relating to their loss-mitigation efforts on delinquent FHA-insured loans, sources cited by the American Banker say. The deadline for resolving their differences is Christmas, so the government is ready to give [...]
State attorneys general are working with banksters to finalize the foreclosure settlement agreement, but it looks like they are losing field each day. DsNews and the Wall Street Journal blames California Attorney General, Kamala Harris for the failure. The initial deal – at the time when California AG was still part of the committee – [...]
NATIONAL GSE penalties contributed to robo-signing? Rep. Elijah Cummings (D-Maryland) has several questions to ask from the GSEs’ regulators, such as “Did policies in place at Fannie Mae and Freddie Mac help fuel foreclosure abuses such as robo-signing?” According to documents obtained by Cummings, the nation’s two largest mortgage financiers assessed $150 million in fines [...]
Rep. Elijah Cummings (D-Maryland) has several questions to ask from the GSEs’ regulators, such as “Did policies in place at Fannie Mae and Freddie Mac help fuel foreclosure abuses such as robo-signing?” According to documents obtained by Cummings, the nation’s two largest mortgage financiers assessed $150 million in fines against servicers last year for not [...]
President Obama gave green light to a government spending bill yesterday morning which reinstalled higher conforming loan limits for the FHA (Federal Housing Administration) through the end of 2013. This means that starting yesterday, FHA can ensure loans up to $729,750 from $625,500 in the most expensive neighborhoods. An earlier proposed amendment to the bill [...]
NATIONAL Long awaited batch of Dodd-Frank rules due out soon The central bank will soon issue a long-awaited package of proposed rules, implementing the Dodd-Frank Act, Federal Reserve Board Vice Chairman Janet Yellen said. “The Federal Reserve will soon release for comment its proposed rule on enhanced prudential standards that would apply to large bank [...]
The central bank will soon issue a long-awaited package of proposed rules, implementing the Dodd-Frank Act, Federal Reserve Board Vice Chairman Janet Yellen said. “The Federal Reserve will soon release for comment its proposed rule on enhanced prudential standards that would apply to large bank holding companies and systemically important nonbank financial firms,” Yellen said [...]
The Federal Housing Finance Agency (FHFA) and the Treasury signed off recently on $12.79 million performance-based bonuses for the 10 highest-ranking executives at the GSEs. And this happened after the two giants were asking of more than $15 billion bail-out combined. The reply of the lawmakers: the amount of bonus pays is outrageous, so they [...]
NATIONAL Housing data reflects reality: there is much more work to do A new progress report was released by the Treasury on its Making Home Affordable initiative. The report covers all “H” acronyms: HAMP, HAFA and HARP. HAMP started in April 2009 and since then 857,000 homeowners have received permanent loan restructurings and 894,000 have [...]
We want to say thanks to Eureka for making our short sale possible
Roger and Lisa Pringle
Austin, Texas
