Tag:
Mortgage Holders
Latest Headlines
Latest Headlines
Government ponders refinancing incentives
What would be the single best thing for the government to do right now to help the mortgage industry survive, give mortgage holders in good stead a break and help revive the economy?
We've long thought that the best answer would be to incentivize refinancing for the millions of mortgage holder
Mortgage industry clings to old ways
The consumer mortgage business has lost a lot of credibility since the start of the foreclosure fiasco. Few days go by without some reminder that industry's perceived lust for profits at any costs left a lot of victims in its wake.
Whether this is fair or not, the industry has found itself on
Banks proactively restructuring options ARMs
When it comes to cutting mortgage balances for end customers, the biggest banks have consistently maintained that it was a bad idea. It would be unfair to the mortgage customers that did everything right to remain up-to-date on their payments, and it would create a personal moral hazard that would
Bank of America dealt another foreclosure blow in Nevada
We've noted that mortgage lenders and servicers face a range of legal action across the country. Lawyers for aggrieved mortgage holders are emboldened like never before, and they seem to be racking up more wins. The latest: A state judge in Nevada on Jan. 20 issued a temporary restraining order an
Citigroup sued for faulty foreclosures, MERS a big issue
JPMorgan Chase, Bank of America and GMAC have made headlines for their foreclosure process woes. These processes have been paused as they work through information integrity issues related to the Mortgage Electronic Registration Systems.
The latest news is that a group of homeowners in Kentucky
JPMorgan suspends 56,000 foreclosures over 'robo-signing' controversy
For mortgage servicers, the recent moves by GMAC Mortgage and JPMorgan Chase to suspend foreclosures is nothing short of a nightmare. Lawyers for aggrieved mortgage holders have thrown a huge wrench into the market with revelations of so-called robo-signers who sign documents en masse, without per
Proposed law aims to correct mortgage service companies' conflicts
Frustration with the loan modification process has been felt at all levels. But there have been few attempts to fix key problems. The New York Times takes a look at a central issue: The conflict of interest at the main mortgage servicers, Bank of America, JPMorgan Chase and Wells Fargo.
Th
What to do about mortgage holders who walk
It's no secret that a lot of mortgage holders who can't make their payments are choosing to simply walk away from the property, basically defaulting and leaving the mess for the bank to clean up. For homeowners who are underwater on their homes, who can't make payments, who don't qualify for modif
Administration launches mortgage plan
The next wave of home owner relief comes in the form of mortgage modification. The Obama Administration kicked off a plan that it hopes will help up to 9 million Americans. The program has two parts: First, to work with lenders to modify the loan terms for up to 4 million homeowner, and second, to
Soros offers an alternative rescue plan
George Soros, once known as the Man Who Broke the Bank of England, was in Washington to make clear that he doesn't think much of the bailout plan that Congress just rejected. Rather than an RTC-like plan, he suggested an alternative that would recapitalize banks in similar fashion using preferred
