Daily Archives: May 12, 2012

Bank of America's workforce shrinks

Bank of America's workforce shrinks
These involve mortgages sold to securitizers, primarily government-sponsored entities Fannie Mae and Freddie Mac. If the securitizer believes they were sold using incorrect data, it demands the bank take them back. Bank of America has been in a dispute …
Read more on Kansas City Star

Insight: Ally's mortgage unit problems come full circle
But now ResCap faces litigation from private investors as well as the regulator of Fannie Mae and Freddie Mac over underwriting standards it used in making those loans, bringing a whole new set of liabilities that again threaten to take Ally down with …
Read more on CNBC.com

Foreclosures squeezing US home prices and sales

Foreclosures squeezing US home prices and sales
WASHINGTON – Rising foreclosures are weighing on the US housing market, reducing prices and keeping new-home sales weak. Foreclosed homes are usually sold at steep discounts, thereby lowering average prices. And by expanding the supply of low-priced …
Read more on Fox News

Foreclosed Houses Become Homes for Indoor Marijuana Farms
On a suburban block with six family homes, palm trees and views of the surrounding green hills, nothing at 110 Windsor Court stood out. Its occupants, who had moved into the foreclosed house a few years earlier, were quiet types.
Read more on Pittsburgh Post Gazette

Foreclosure Review Is Free, But Few Borrowers Apply

Foreclosure Review Is Free, But Few Borrowers Apply
by Yuki Noguchi A foreclosed home in Los Angeles. More than 4 million homeowners nationwide are eligible for an independent review of their foreclosure process, but only a small percentage have applied to the program. It's been more than six months …
Read more on NPR

Foreclosed Homes Destroyed By Previous Owners (VIDEO)
Home owners who have had their houses taken away in foreclosure sometimes take their anger out on the houses themselves. WTEV reports on a foreclosed mansion in Jacksonville, Fla. in which the previous owners have apparently ripped out the home's …
Read more on Huffington Post

As housing starts to grow, it moves southwest
Meier said that more people are looking to build homes, partly as an improved home sales market has made it easier for them to sell their existing homes. Home sales have increased strongly in the past year, and there are fewer foreclosed homes on the …
Read more on Post-Bulletin

Stubborn inflation, weak lending weigh on eurozone

Stubborn inflation, weak lending weigh on eurozone
A top executive at government-controlled mortgage giant Freddie Mac is leaving the company about a year after he was promoted to oversee its single-family mortgage business. The American dream of homeownership is at its lowest point in 15 years, …
Read more on KFVS

Campaign for a Fair Settlement Protests Obama Fundraiser: “Help Us”
And she wants the President to fire Ed DeMarco, who has dithered on allowing Fannie Mae and Freddie Mac to participate in principal reduction programs. Several of the attendees of the protest, carrying signs that said “Big Banks Are Not Too Big To …
Read more on Firedoglake

KEYC – Mankato News, Weather, Sports -Mayor: Heathrow chaos damaging London's
AP Sports News Video A top executive at government-controlled mortgage giant Freddie Mac is leaving the company about a year after he was promoted to oversee its single-family mortgage business. Humana Inc. said Monday that its first-quarter profit …
Read more on KEYC TV

KEYC – Mankato News, Weather, Sports -Spanish lenders in talks over 'bad bank
AP Sports News Video A top executive at government-controlled mortgage giant Freddie Mac is leaving the company about a year after he was promoted to oversee its single-family mortgage business. Humana Inc. said Monday that its first-quarter profit …
Read more on KEYC TV