Feb
06
MERS Speak | Setting the Record Straight – MERSCORP’s Response to Some of Attorney General Schneiderman’s Claims
Setting the Record Straight: MERSCORP’s Response to Some of Attorney General Schneiderman’s Claims FOR IMMEDIATE RELEASE CONTACTS: Janis L. Smith 703-738-0230 janiss@mersinc.org Karmela Lejarde 703-761-1274 karmelal@mersinc.org Mortgage Electronic Registration Systems, Inc. (MERS) takes its role as a mortgagee very seriously. The MERS® System is an important part of the mortgage industry and the MERS business … Read more
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Oct
21
Did Citi Get a Sweet Deal? Bank Claims SEC Settlement on One CDO Clears It on All Others
Did Citi Get a Sweet Deal? Bank Claims SEC Settlement on One CDO Clears It on All Others by Jesse Eisinger and Jake Bernstein ProPublica In the run-up to the global financial collapse, Citigroup2019s bankersworked feverishly to create complex securities. In just one year, 2007, Citimarketed more than $20 billion worth of deals backed by … Read more
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Oct
17
Other People’s Money | Fannie and Freddie, Still the Socialites
Only Lender Processing Services had more (guests) — 91 — than Fannie and Freddie. (Perhaps they robo-signed their registrations.) ~ Fannie and Freddie, Still the Socialites THE mortgage business is moribund. New loans are down. New foreclosures are up. But why let a little sorry news get in the way of a good party? Last … Read more
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Aug
31
WSJ | Bank of America to Exit Correspondent Mortgage Business
Bank of America to Exit Another Line Bank of America Corp. intends to sell its correspondent mortgage business, as the troubled lender looks to narrow its focus and bolster its financial strength, said people familiar with the situation. Employees could be notified as soon as Wednesday that the lender has decided to exit the correspondent … Read more
Aug
15
Registers of Deeds, Andrea F. Nuciforo Jr. Says Southern and Northern District Registries Owed a Collective $775,000 in MERS Fees
Registers of deeds usually remain out of the political spotlight, unless up for re-election, but Nuciforo believes he and his colleagues must prevent MERS alleged deceptive practices. “I have an obligation to make sure our [registry's] documents are an accurate reflection of who owns the mortgage to a property,” he said. ~ Mortgage business ‘stiffing’ … Read more
May
19
Mortgage delinquencies surge to a record
The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.
Foreclosure – Mortgage – Business – Real estate – United States
May
17
Mortgage aid program still having mixed effect
The Obama administration’s main mortgage assistance plan has provided permanent relief to 25 percent of borrowers enrolled, but nearly as many have dropped out.
Mortgage – Business – Presidency of Barack Obama – United States – Financial services
Apr
26
Reports of mortgage fraud up 7 percent
Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report such activity.
Mortgage fraud – United States – Mortgage – Business – Financial Services
Mar
25
Foreclosure relief plan coming up short
Treasury officials acknowledged problems in the government’s latest mortgage-modification program and announced changes at a highly critical hearing.
Foreclosure – Mortgage modification – Business – United States – Mortgage
Mar
25
BofA to reduce principal for at-risk mortgages
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure.
Bank of America – Mortgage – Business – Financial Services – Banking Services
Mar
24
Watchdog: Mortgage plan goal ‘meaningless’
A government watchdog is criticizing the Obama administration for establishing a “meaningless” goal for its flagship mortgage assistance program.
Government – Presidency of Barack Obama – Mortgage – Business – United States
Mar
17
Fannie Mae cuts mortgage investment forecast
Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a “setback” in home sales.
Fannie Mae – Mortgage – United States – Business – Financial Services
Feb
22
Obama considers changes to mortgage plan
The Obama administration is soon expected to unveil additional protections to ensure homeowners are treated fairly and consistently under its mortgage relief program.
Presidency of Barack Obama – Mortgage – United States – Business – Financial Services
Jan
15
Mortgage relief reaches 7 percent of borrowers
The Obama administration’s mortgage relief plan provided help to 7 percent of borrowers who signed up last year.
Mortgage – Presidency of Barack Obama – Business – United States – Financial Services
Dec
24
Mortgage rates hit highest level in 2 months
The average fixed-rate for a 30-year mortgage climbed above 5 percent for the first time in two months, leading to a decline in mortgage applications.
Mortgage – Business – Financial Services – Batting average – United States
Dec
21
Few borrowers helped by modified mortgages
One of the biggest challenges to ending the foreclosure crisis is this: A surprising number of homeowners who get their monthly payments reduced fall behind again within a year.
Mortgage – Business – Financial Services – Loan – United States
Dec
10
Foreclosure activity falls for fourth month
The number of homeowners on the brink of foreclosure fell in November, the fourth straight monthly decline, as mortgage companies evaluated whether borrowers were eligible for help.
Foreclosure – Mortgage – Business – Real estate – Investing
Dec
02
General Growth, lenders agree to debt rework
General Growth Properties Inc. said Wednesday that it has filed its reorganization plan, and its lenders have agreed to restructure about $9.7 billion in shopping mall mortgage loans.
General Growth Properties – Business – United States – Shopping mall – Mortgage loan
Nov
29
U.S. to lean on mortgage companies
The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to help people stay in their homes, officials say.
Foreclosure – United States – Presidency of Barack Obama – Mortgage – Business
Nov
19
Mortgage delinquencies hit record high
A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.
Mortgage – Foreclosure – Business – United States – Financial Services
