Calling Fannie Mae's decision to go after strategic defaulters an "opaque, overbroad and punitive policy," Rep. John Conyers Jr., D-Mich., has asked Treasury Secretary Tim [read more]
New York City Comptroller John C. Liu says that talks have officially begun between his office and five of the city's largest banks regarding steps [read more]
The July Mortgage Monitor report released by Lender Processing Services Inc. (LPS) shows that foreclosure starts are on the rise, with seriously delinquent loans - [read more]
Richard Weiss, Clerk of the Circuit Court in Polk County, Fla., has launched a new foreclosure sale site that he says will increase the number [read more]
The U.S. Department of Housing and Urban Development (HUD) has signed a deal with the nation's top lenders and servicers to offer selected state and [read more]
Fannie Mae has updated the allowable foreclosure time frames for the states of Florida, Maryland, Nevada and New York, according to a servicer announcement dated [read more]
Walter Investment Management Corp., which last week announced its acquisition of specialty servicing platform Marix Servicing, has completed the purchase of a pool of residential [read more]
Servicers completed more than 120,000 proprietary loan modifications in July - more than three times the number of mods completed through the federal Home Affordable [read more]
Texas Attorney General Greg Abbott has charged American Home Mortgage Servicing Inc. (AHMSI) with multiple violations of the Texas Debt Collection Act and the Texas [read more]
More than 1,200 foreclosures were recorded in Massachusetts in July - nearly an 80% increase from July 2009, according to The Warren Group, publisher of [read more]
PERSON OF THE WEEK: This week, MortgageOrb.com caught up with Dr. Alex Villacorta, Clear Capital's senior statistician, to get his thoughts on price trends, REO [read more]
WORD ON THE STREET: Over the past 20 years, as the banking industry has consolidated into fewer and larger banks, a perennial question has been, [read more]
Selling real estate owned (REO) properties to owner-occupants and buyers who qualify for publicly funded housing programs remains an overarching goal of the government-sponsored enterprises [read more]
REQUIRED READING: If your firm originated loans prior to 2009, you have buybacks and need to know how to defend yourself. Loan buyback demands are [read more]
PERSON THE WEEK: As the mortgage banking industry continues to keep up with the acute changes in regulation and policy - the Dodd-Frank Act, government-sponsored [read more]
BLOG VIEW: Does the U.S. really need a Consumer Financial Protection Bureau? Probably not, but the Dodd-Frank Act gave us this new bureaucracy, and we [read more]
WORD ON THE STREET: The new Financial Stability Oversight Council is directed to make recommendations to the Federal Reserve's Board of Governors "concerning the establishment [read more]
REQUIRED READING: Today's mortgage lenders fall into one of three categories: those that are growing faster than ever, those that are getting ready to shut [read more]
REQUIRED READING: Try as it might, the Home Affordable Modification Program (HAMP) cannot resolve the shadow inventory alone. With only a fraction of the borrowers [read more]
