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- Strategic Default and Credit Cards in CaliforniaForum: Stop Foreclosure and Tell Us Your Story Posted By: WalnutCreek Homeowner Post Time: 01-27-2012 at 10:15 AM […]
- Chase HAMP Trial Mod Communication QuestionForum: Chase Mortgage - Tell Us Your Chase Story Posted By: Sunnyfish Post Time: 01-27-2012 at 09:38 AM […]
- Can you get a loan mod if you have 200,000 in equity ?Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: Saritas Post Time: 01-27-2012 at 08:50 AM […]
- BOA Has put my loan into foreclosure - ConnecticutForum: Stop Foreclosure and Tell Us Your Story Posted By: Housebroken13 Post Time: 01-27-2012 at 08:41 AM […]
- Questions about settling 2ndForum: Debt Settlement Posted By: johnmrob Post Time: 01-27-2012 at 01:09 AM […]
- Walking in NorCal, have a few ?'sForum: Wells Fargo Home Mortgage Posted By: thisishard Post Time: 01-26-2012 at 09:32 PM […]
- getting on the wheelForum: Wells Fargo Home Mortgage Posted By: msdjsd Post Time: 01-26-2012 at 08:31 PM […]
- GreenTree 1st and 2nd do I have a chance to settle 2ndForum: Stop Foreclosure and Tell Us Your Story Posted By: busterbully Post Time: 01-26-2012 at 08:20 PM […]
- Can they change my 2nd mortgage into a Personal Loan and garnish my wages for it?Forum: Stop Foreclosure and Tell Us Your Story Posted By: I'm So Tired Portland Ore Post Time: 01-26-2012 at 06:11 PM […]
- Short sale success!!! My perceived keys to success!!!Forum: Short Sale Outpost Posted By: jdubbs Post Time: 01-26-2012 at 03:55 PM […]
July 2011
U.S. Banks Project Lower Debit Card Fee Losses
(Source: Reuters By Joe Rauch) – Two of the largest U.S. consumer banks said on Tuesday they expect new limits on debit card fees to have less of an impact than originally projected, after regulators softened the rules.
Weak Recovery Weighs on Bank of America and Wells Fargo
(Source: DealB%%k By ERIC DASH) – Even as the big banks stanch their losses, they are reckoning with an unfortunate reality: the anemic recovery is hurting their results.
Mortgage Payment Help Available in Montana
MISSOULA (Source: KPAX by Angela Marshall) – There’s help available for Montana homeowners who are struggling to make their mortgage payments. However, they first must meet some qualifications to be eligible for the assistance.
Chase Opens Center to Help Struggling Homeowners
(Source: MySanAntonio By Patrick Danner) – JPMorgan Chase & Co., among the nation’s largest mortgage-loan servicers, has opened a San Antonio office to provide help for homeowners struggling to make their monthly mortgage payments.
Va. Beach Loan Modification Firm to Pay $54K to Settle Suit
(Source: By Josh Brown The Virginian-Pilot) – A Virginia Beach-based company has agreed to pay $54,200 to settle allegations that it charged homeowners facing foreclosure thousands in illegal upfront fees to help save their homes, Virginia Attorney General Ken Cuccinelli [...]
Life On MERS: Archive Is At Center Of Mortgage Mess
(Source: Reuters By Scot J. Paltrow ) – A little-known institution in Reston, Virginia, has done much to help loan servicers produce foreclosure documents of questionable legitimacy, according to multiple recent court rulings and deposition testimony.
Bank of America Posts 2Q Net Loss of $8.8B, Hit by Mortgage Troubles
CHARLOTTE, NC (Source: New York Post) – Bank of America reported Tuesday a second-quarter net loss of $8.8 billion, or 90 cents a share, against a year-earlier profit of $3.1 billion, or 27 cents a share.
U.S. Home Finance in Limbo a Year After Dodd-Frank
(Source: Reuters By Agnes T. Crane) – A year after the Dodd-Frank Act, the $10.5 trillion U.S. mortgage market is still in limbo. One big reason is that the law scarcely touches Fannie Mae, Freddie Mac and the Federal Housing [...]
Time for Action on Freddie and Fannie
(Source: New York Times By AGNES T. CRANE, GEORGE HAY and PETER THAL LARSE) – A year after passage of the Dodd-Frank act, the $10.5 trillion American mortgage market remains in limbo. One big reason is that the law scarcely [...]
Mortgage Industry ‘Didn’t Think Borrowers Were Worth Helping’
(Source: Pro Publica by Lois Beckett) – Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair’s revealing exit interview by the New York Times’ Joe Nocera has generated plenty of buzz. But while the interview provided a comprehensive look at [...]
AP Exclusive: Mortgage ‘Robo-Signing’ Goes On
(Source: Michelle Conlin and Pallavi Gogoi, AP Business Writers) – Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices [...]
Royal Bank of Scotland is Sued by Federal Regulators Over Credit Union Losses
(Source: By E. Scott Reckard, Los Angeles Times) – Federal regulators are seeking $629 million in damages from a Royal Bank of Scotland unit accused of selling riskier-than-advertised mortgage securities to Western Corporate Federal Credit Union, a San Dimas credit [...]
UniCredit’s Rosen Says U.S. Banks to Avoid Downgrade
July 19 (Source: Bloomberg) — Monika Rosen, head of research at UniCredit Private Bank, talks about U.S. bank earnings and the debate over the debt ceiling. She speaks from Vienna with Owen Thomas and Francine Lacqua on Bloomberg Television’s “Countdown.”
Goldman Banks Less Pay Per Employee in Second Quarter
NEW YORK -(Source: MarketWatch By Liz Moyer)- Goldman Sachs Group Inc. GS -0.74% set aside 19% less compensation per employee in the second quarter than one year ago as profits fell below expectations on weakness in trading.
Banks Lead Rebound for European Shares
LONDON, July 19 (Source: Reuters By Brian Gorman) – European shares rose on Tuesday, with forecast-beating earnings lifting some companies, tech shares gaining after an upbeat statement from IBM and banks recouping some ground lost in the previous session’s steep [...]
Commercial Loan Modifications Possible
(Source: The Arizona Republic by J. Craig Anderson) – It’s entirely possible for struggling commercial-property owners to obtain a loan modification, according to Kevin Kopp of 1st Service Solutions, a commercial-foreclosure-prevention firm. The problem is that most commercial-mortgage borrowers don’t [...]
BofA Mortgage Settlements Magnify Capital Strain as $50 Billion Gap Looms
(Source: Bloomberg By Hugh Son) – Bank of America Corp. (BAC) may have to build its capital cushion by $50 billion and renege again on Chief Executive Officer Brian T. Moynihan’s pledge to raise the firm’s dividend as mortgage losses [...]
MGIC Swings to Loss as Claims Costs Increase
(Source: Bloomberg By Brooke Sutherland) – MGIC Investment Corp. (MTG) led a mortgage insurer slump after the company swung to a loss as fewer borrowers caught up on overdue loans.
Mystery Mortgage Economics
(Source: New York Times Paul Krugman) – As most of our attention is focused on the debt-ceiling crisis, another issue is coming to a head: whether prosecutors will rush to let banks off the hook for mortgage abuses in return [...]
Mortgage Megadeal is Still Weeks Away
(Source: New York Post By MARK DeCAMBRE) – America’s biggest mortgage servicers are still weeks from reaching a potential multibillion-dollar deal with federal and state officials to settle the foreclosure fiasco, The Post has learned.
Corporate Whistle Blower Center Urges Loan Servicing Or Bank Foreclosure Insiders To Step Up For Potentially Huge Rewards For Wrongdoing
(Source: San Francisco Chronicle) – The Corporate Whistle Blower Center is dramatically increasing its efforts to expand its whistleblower initiative into the US mortgage servicing industry. The group says, “The US mortgage loan servicing industry is rotten to the core, [...]
Do Not Fall Victim to Mortgage Modification Scams; Get Real Help
July 17, 2011 (Source: US Politics Today) – The recession has hit families hard, and many Americans are willing to try just about anything to escape from burdensome loan payments, including their mortgage. But, some companies offering a way out [...]
Whittier Woman Accused of Defrauding Seniors in Real Estate Scam
WHITTIER (Source: Whittier Daily News By Ruby Gonzales) – A Whittier woman allegedly stole money from five seniors between 2006 and 2009 using her contacts and her knowledge of real estate.
A Bad Credit Score Doesn’t Guarantee Landlord Denial
(Source: New York 1 By: Jill Urban) – During the past few years, the real estate market was weaker and landlords were willing to be more forgiving.
Foreign Investors Snapping Up Choice Silicon Valley Property
(Source: Mercury News By Patrick May and Pete Carey) – Silicon Valley real estate may look badly bruised to those of us living here, with depressed prices, a glut of foreclosures, and a stubbornly bleak outlook. But to many foreign [...]
Growing U.S. Population Set to Affect Real Estate Market … But How?
(Source: Sun Gazette by DAVE FACINOLI) – The Census Bureau predicts that the U.S. population will increase from 311 million today to 423 million by 2050, keeping the United States the third-largest nation by population behind India (expected to grow [...]
Many Real Estate Agents are Small Businesses, Facing Costs and Uncertainties
(Source: Philly By Alan J. Heavens) – Eight out of 10 real estate agents are independent contractors, not salaried or commissioned employees.
China to Expand Real Estate Restrictions to Second and Third-tier Cities
Jul. 18 (Source: China Briefing) – Following the release of statistics on the first half of 2011 which show house prices are still growing in most surveyed cities, China’s State Council said on July 12 that it will continue to [...]
Scorned Bank of America Tries to Change Its Image
(Source: North Jersey News BY RICHARD NEWMAN) – Luis Morales, owner of Andre’s Wine and Spirits in Leonia, opened a business checking account at the Bank of America branch across the street from the shop when he acquired the business [...]
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