March 2011

Here is an article from the NY Times by Joe Nocera. I am sorry Joe, but I disagree with you and your theories in the article below. What Angelo Mozilo did was within the rule of “man made” law and [...]

(Source: Record, The; Bergen County, N.J. Kathleen Lynn) – Six large mortgage lenders will have to show a retired judge that they’re playing by the legal rules in foreclosures, under an agreement approved Tuesday in Superior Court in Trenton.

(Source: Star Tribune, Minneapolis By Jim Buchta and Jennifer Bjorhus) – A Forest Lake real estate closer accused of pocketing about $1.3 million in dozens of property transactions has been slapped with a $420,000 fine — one of the largest [...]

(Source: The Atlanta Journal and Constitution By J. Scott Trubey) – Federal rules go into effect this week to cap the pay of mortgage brokers — people who connect borrowers and lenders — in a move that has industry groups [...]

(Source: The Idaho Statesman, Boise By Joe Estrella) – Idaho had a 7.2-month supply of homes likely to become short sales, foreclosures or repossessions at the beginning of 2011, according to an industry report released Wednesday.

(Source: Irish Times By Arthur Beesley) – THE EUROPEAN Commission unveils plans today to clamp down on “irresponsible” mortgage lending with measures to ensure borrowers are warned of the consequences of their actions.

(Source: The Philadelphia Inquirer ) – It’s too bad that a Philadelphia judge has allowed a months-delayed sheriff’s sale to go ahead on Tuesday. That has set off a race against time for hundreds of Philadelphia homeowners facing the loss [...]

(Source: USA TODAY By Julie Schmit) – The U.S. had 1.8 million distressed homes in January that had yet to be listed for sale, a “shadow inventory” that is expected to weigh on home prices for years.

(Source: Fransen and Molinaro Law Firm By Paul Molinaro ESQ)- If you found this essay during your Internet travels or other research, you likely have a basic understanding of, and an interest in, the mortgage meltdown, the collapse of the [...]

(Source: Consumer Affairs.com) – Last year, attorneys general from 50 states were working together to put pressure on mortgage lenders to clean up the foreclosure process and provide more help to consumers trying to stay in their homes despite financial [...]

(Source: The Atlanta Journal and Constitution By J. Scott Trubey) – Federal rules go into effect this week to cap the pay of mortgage brokers — people who connect borrowers and lenders — in a move that has industry groups [...]

(Source: Portland Press Herald By J. Hemmerdinger) – Members of Maine’s real estate industry are scrambling to comply with licensing requirements that take effect Friday, when home “loan originators” will need state licenses.

(Source: The Kansas City Star) – Congress finally is taking early steps toward correcting one of the contributing causes of the credit meltdown: Many banks willingly approved mortgages regardless of risk.

(Source: The Philadelphia Inquirer By Jennifer Lin) – Auditors for the federal housing agency have launched another review of the Philadelphia Housing Authority, this time looking at possible conflicts of interest between PHA officials and contractors doing renovations of public [...]

(Source: The Gazette – Cedar Rapids, Iowa By George C. Ford) – While the number of delinquent mortgages continues to decline, the inventory of foreclosed homes is 30 times the volume of foreclosed sales each month, according to a new [...]

(Source: The Anniston Star By Laura Camper) – Despite the drizzle filtering down from the sky, the yards of Constantine Homes were noisy with activity. Lawnmowers roared in the background and the sound of hammering and sawing from some apartments [...]