12 months after evidence surfaced about the existence of robo-signing practices, state attorneys general aren’t getting closer to a consensus on what the settlement should include or not. Fact is, Kentucky Attorney General Jack Conway and Minnesota Attorney General Lori Swanson now took Schneiderman’s role and they are now speak against the settlement agreement, which [...]
The unregulated housing market ended up collapsing a couple years ago and this isn’t what the government-sponsored enterprises want to witness again, so they published new guidelines which took effect at the end of last month. These guidelines cover the work of appraisers and help the GSEs to build a massive database of every appraisal [...]
As the nation’s biggest lender, Bank of America resumed its foreclosures, notice of default filings jumped nearly 70% in California from July, ForeclosureRadar reported. Foreclosure starts increased in five West Coast States from the previous month: California, Arizona, Washington, Oregon and Nevada. According to ForeclosureRadar statistics, Bank of America foreclosure starts more than doubled last [...]
After a year of investigation, the Department of Housing and Urban Development has result in the robo-signing case, Iowa Attorney General’s spokesman said. As the date of the settlement approaches, Iowa Attorney General surprises the taxpayers with news each day. The latest one is the result of the robo-signing investigation, or at least the announcement [...]
Washington state’s Supreme Court will determine whether thousands of pending foreclosures can proceed out of court or not. MERS was created by the nation’s big lenders such as Fannie Mae, Freddie Mac, bank of America and others in 1995 to get around cumbersome laws that required paperwork and the involvement of county clerks when a [...]
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 [...]
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, [...]
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 [...]
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. [...]
The glut of foreclosures forced banks to adopt news strategies and one of the is likely to be the demolishing of foreclosed properties. Lindsey Rupp from Bloomberg reported the phenomenon, giving some background informations. The main idea is that the lender donates a foreclosed home and even pays for its demolition. A recent example comes [...]
We want to say thanks to Eureka for making our short sale possible
Roger and Lisa Pringle
Austin, Texas
