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 [...]
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 US Treasury, totaling $2.3 billion, so this reduces the amount [...]
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 [...]
Sen. Maria Cantwel and nine other senators wrote a letter to regulators asking them to release information on “how well banks have carried out foreclosures.” The aim of the letter addressed to the Office Comptroller of the Currency, the Federal Deposit Insurance Corp. and the Federal Reserve is to prevent illegal foreclosure practices. The highest [...]
US banks push to win broad liability releases as part of the mortgage settlement. This has become the most litigious issue in talks to solve a nationwide investigation of foreclosure practices and mortgage servicing. Bank of America, JPMorgan Chase and Citigroup push for obtaining protection from additional state and federal claims as part of the [...]
Lender Processing Services, Inc (LPS) released its May Mortgage Monitor report showing that the number of loans that are three months or more delinquent combined with the foreclosure inventory at the end of May totaled 4,087,557. Foreclosure sales numbers contrast this fact: the stats show only 78,676 foreclosure sales at month end, so the volume [...]
After four years of foreclosure crisis, banks have finally said they’ve made major improvements in how they handle struggling homeowners. They promised, for instance, not to foreclose on homeowners who are being considered for mortgage mods. However, these are still promises and still empty words, as it is still happening. That are the cases of [...]
The nation’s biggest mortgage lenders and banks have steadily increased their real estate portfolio acquiring a glut of foreclosed homes that now has overgrown and threatens to deepen the housing slump and delay the economic recovery. The numbers are shocking: the nation’s biggest players own more than 872,000 homes as a result of the groundswell [...]
It started with Deutsche Bank and now a set a of confidential federal audits accuse the nation’s five biggest lenders of defrauding taxpayers in their handling of foreclosures on homes purchased with loans backed by the government. The five separate investigations were conducted by the Department of Housing and Urban Development’s inspector general and examined [...]
A company of integrity is what I thought of Eureka. I was repaid for the roof repair as soon as I faxed the receipt. Everyone was happy. My clients got their new home that was a dream and a blessing for them. Thanks again.
WILDA RODRIGUEZ
Nations Realty
