SEC grants Bank of America relief in $16 billion settlement

Ben Lane November 21, 2014 5:04PM The record-setting settlement between Bank of America (BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission. In August, BofA agreed to a $16.65 billion settlement over toxic mortgages, collateralized … More SEC grants Bank of America relief in $16 billion settlement

Mortgage Delinquency Rate Tumbles to Seven-Year Low in October

Author: Brian Honea November 21, 2014 The nationwide mortgage delinquency rate in October fell to its lowest level in seven years, according to Black Knight Financial Services‘ “First Look” at October 2014 Mortgage Data released on Friday. October’s delinquency rate, or the rate of loans that are more than 30 days past due but not … More Mortgage Delinquency Rate Tumbles to Seven-Year Low in October

Old foreclosure debt coming back to haunt former homeowners

By Les Christie  @CNNMoney November 17, 2014: 6:12 PM ET NEW YORK (CNNMoney) They thought losing their home was bad enough. Now, years later, collectors are coming after them for thousands of dollars in back debt. Ben McLarin lived near Jacksonville, Fla., until he lost his job and got divorced in 2007. His wife kept … More Old foreclosure debt coming back to haunt former homeowners

First-time homebuyers abandoning the housing market

By Les Christie  @CNNMoney November 4, 2014: 11:29 AM ET NEW YORK (CNNMoney) Young America’s love affair with homebuying has hit a low point. The percentage of homes that were sold to first-time homebuyers dropped to 33% this year, the lowest percentage in almost three decades, according to the National Association of Realtors. Typically, first-time … More First-time homebuyers abandoning the housing market

If A City Tree Falls On Your House, Does It Sound Like Eminent Domain?

Written by Bob Hunt on Monday, 03 November 2014 12:29 pm <!– TOOK OUT THESE TOP TEXT ADS BECAUSE CHRIS SAID TO REMOVE THEM Learn the secrets to being a happy agent  |  7-Piece Patio Dining Set – $350 Off–> In late November of 2011, extremely strong winds battered much of Southern California. In the … More If A City Tree Falls On Your House, Does It Sound Like Eminent Domain?

Fannie Mae Chief Details Plan to Ease Mortgage Rules

By PETER EAVIS  NOVEMBER 6, 2014 11:35 AM Seeking to bring more people into the housing market, the government said last month that it planned to expand the availability of mortgages with low down payments. On Thursday, the chief executive of Fannie Mae, the largest government mortgage entity, provided some crucial details on what the program would look … More Fannie Mae Chief Details Plan to Ease Mortgage Rules

10 states where homeowners owe the most on their mortgages

By Stacy Jones • Bankrate.com Where do people owe the most on their mortgages? When it comes to the top 10 states for outstanding mortgage debt, we’re definitely not in Kansas anymore. This list comprises mostly East and West Coast mainstays, where homeowners owed an average of $200,000 to $300,000 on their mortgages in June … More 10 states where homeowners owe the most on their mortgages

UPDATE 4-NY says Ocwen backdated foreclosure letters, company shares slide Tue Oct 21, 2014

By Karen Freifeld and Peter Rudegeair Oct 21 (Reuters) – Ocwen Financial Corp may have harmed hundreds of thousands of borrowers by sending backdated letters about loan modifications and foreclosures, New York state’s financial regulator said on Tuesday, sparking a selloff in shares of the mortgage servicer. The company denied loan modifications in letters that … More UPDATE 4-NY says Ocwen backdated foreclosure letters, company shares slide Tue Oct 21, 2014