NATIONAL The need for a defined foreclosure timeline Both Freddie Mac and Fannie Mae representatives upheld the companies’ practice of collecting penalties from servicers who fail to meet defined timelines for processing foreclosures. It is clear now, that both Fannie and Freddie representatives aim to keep borrowers in their home, because it is the better [...]
NATIONAL Treasury wants to put the bailout to bed The Treasury Department has sent out letters to the banks that received Troubled Asset Relief Program funds expressing its will to put the bailout to bed.“They’re saying to the 380 remaining banks, ‘We want to light a fire under you to figure out how you’re going [...]
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 [...]
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 [...]
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 refinanced their mortgages through the Home Refinance Program, or HARP. According to [...]
NATIONAL Special Inspector General concludes 600K will be left out of HAMP if Treasury doesn’t come up with something The Special Inspector General of the Troubled Asset Relief Program (SIGTARP) concluded: federal funding mortgage relief programs are a failure, as they struggle to reach their targets, troubled homeowners. The recently released report say only 5.4% [...]
The Special Inspector General of the Troubled Asset Relief Program (SIGTARP) concluded: federal funding mortgage relief programs are a failure, as they struggle to reach their targets, troubled homeowners. The recently released report say only 5.4% or $2.5 billion of the $45.6 billion in TARP funds have been spent. SIGTARP said participation in the HAMP [...]
NATIONAL Bailed out lenders increased their risk level According to a recent report conducted by the Michigan Ross School of Business banks that received federal funding from the Troubled Asset Relief Program or TARP, have since increased their risk level with about 10%. Professors Ran Duchin and Denis Sosyura signed the report, after studying risk [...]
NATIONAL House Veterans’ Affairs Committee investigates the case of defrauded veterans The House Veterans’ Affairs Committee ordered his staff to investigate the cases of cheated veterans and taxpayers as the nation’s biggest lenders have charged these people illegal fees in their struggle to refinance home loans. The chairman’s action comes after a whistleblower lawsuit was [...]
The House Veterans’ Affairs Committee ordered his staff to investigate the cases of cheated veterans and taxpayers as the nation’s biggest lenders have charged these people illegal fees in their struggle to refinance home loans. The chairman’s action comes after a whistleblower lawsuit was filed in federal court in Atlanta showing hard evidence of the [...]
Eureka, was instrumental in helping us sell our home. As our family experienced financial hardship we were left with limited options in dealing with our home. Because of our current financial situation and future plans to support our kid’s through college we chose to sell our home. Eureka was creative and always showed to have a solution regardless of the situation. If you are lost, facing foreclosure, or have any questions regarding selling your home, call Eureka a call they will have an answer.
Heriberto Garcia
Austin, TX
