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Mortgage delinquencies hit record – again
(AP) — The pace at which people fell behind on their mortgages slowed during the summer for the…
Homeowners in financial trouble often redefault
Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.
FBI nabs mother-daughter duo who devised $5M scam
The FBI has arrested a Manteca, Calif. mother and daughter accused of defrauding lenders of about $5 million from home sales.
Genworth mortgage unit settles arbitration case related to coverage on a block of loans
A Genworth Financial Inc. mortgage insurance subsidiary has settled an arbitration case, ending a nearly yearlong feud related…
Two plead guilty in $3 million mortgage fraud scheme
A Missouri man and an Iowa woman have pleaded guilty to a scheme to defraud mortgage lenders for $3 million.
Government to lenders: ‘Ramp up’ loan modifications
The Department of the Treasury expressed dissatisfaction yesterday with the number of trial loan modification initiated through July 31 and has asked the 38 loan providers participating in the federal government's Home Affordable Modification program to “ramp up” their efforts.
Frank threatens banks to stop foreclosures
A senior House Democrat is threatening banks that if they don't volunteer to save more homeowners from foreclosure, Congress will make them.
‘TARP for Main Street’ legislation introduced in House
A bill to provide low-cost loans to unemployed homeowners with delinquent mortgages was introduced yesterday by Rep. Barney Frank, D.-Mass., chairman of the House Financial Services Committee.
Consumer Financial Protection Agency bill introduced in House
House Financial Services Committee Chairman Barney Frank, D-Mass., has introduced legislation proposed by President Obama to set up a new Consumer Financial Protection Agency.
Manhattan DA indicts mortgage company for $100M fraud
Manhattan District Attorney Robert M. Morgenthau yesterday announced the indictment of mortgage company AFG Financial Group Inc. of Garden City, N.Y., and 13 individuals in a case involving over $100 million in mortgage fraud over a four-year period in the New York metropolitan area.
FBI: Housing bust led to mortgage fraud boom
Cases of mortgage fraud have surged since the meltdown in the housing markets began last year — a trend that could continue well into next year, according to a report from the FBI.
Mortgage rates drop, reversing three weeks of increasing rates
Mortgage rates have declined this week, reversing three weeks of rising rates, according to a report from Bankrate.com.
Lessons of ’08: Pay down debt, don’t panic
For all its complexity, the financial crisis was triggered by one thing: an overabundance of easy money.
Goldman to pay $60M for role in securitizing subprime mortgages
Massachusetts Attorney General Martha Coakley today announced a $60 million settlement with The Goldman Sachs Group Inc. as part of a continuing investigation into investment banks’ role in securitizing subprime-mortgage loans.
Police investigating death of Freddie Mac official
David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home…
Loan modifications rise; many don’t pare payments
Lenders are boosting their attempts to avoid home foreclosures, but fewer than 50% of modifications reduced payments by more than 10 percent.
Citi to lower some mortgage payments
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners for three months as part of a new program to help the unemployed.
Paying off a mortgage
A client wants to pay off his mortgage with a retirement account distribution and is wondering about the short- and long-term financial ramifications.
Obama plan targets 9M homeowners
President Obama’s mortgage plan aims to keep up to 9 million families from losing their homes to foreclosure.
Jan. foreclosures off 10% from Dec.
Efforts to stem the tide of foreclosures appear to be having some impact as foreclosure activity fell 10% in January from December, according to RealtyTrac.
