Fed Blesses Banks' Foreclosure-Rental ApproachWall Street Journal (blog)The shift to rentals is a significant change in the way banks deal with properties that fall into foreclosure – if loan assistance programs don't work. Federal Reserve Chairman Ben Bernanke and other central bank officials have spoken publicly about …Fed rules on turning foreclosures into rentalsReutersFed Outlines [...]
Secondary Sources: Foreclosures, European Crisis, GoldWall Street Journal (blog)By Phil Izzo –Foreclosures: Barry Ritholtz has dedicated a series of blog post to the housing market. Today he looks at foreclosures. “Once we begin to see an increase in foreclosures, the data is going to be far less accommodating. View full post on foreclosures – Google [...]
MassLive.com Study Hits Banks On Foreclosure MaintenanceWall Street Journal (blog)“This report offers evidence that banks responsible for peddling unsustainable loans to communities of color and triggering our current foreclosure crisis are continuing to damage those communities by failing to properly maintain and market the …As Foreclosures Stall Again, Warnings of Housing 'Paralysis'CNBC.comSenate Democrats urge housing [...]
CNBC.com Just 3% of Eligible Borrowers Apply for Foreclosure ReviewWall Street JournalBy RUTH SIMON And DAN FITZPATRICK Last April, federal banking regulators cracked down on alleged foreclosure abuses by announcing enforcement actions against 14 major financial companies and promising widespread reforms. A year later, borrowers haven't …Foreclosure reforms to widenWashington PostAs Foreclosure Problems Persist, Fed [...]
Bloomberg Foreclosure 'Starts' Fall in FebruaryWall Street Journal (blog)By Nick Timiraos For months, housing pundits have warned that banks were likely to jumpstart the foreclosure process after finalizing their $25 billion settlement with the federal government and 49 state attorneys general. But so far, there's little …The Foreclosure Deal Spares the Housing Market (So Far)BloombergLPS' [...]
KVAL Former Morgan Stanley Unit Cited for Foreclosure ViolationsWall Street JournalBy ALAN ZIBEL And IAN TALLEY WASHINGTON—The Federal Reserve on Tuesday ordered Morgan Stanley to review thousands of foreclosures conducted by a mortgage-servicing unit it sold this year and said it would levy fines against the investment bank.Starwatch Consumer | More homes heading for foreclosureKansas [...]
Wall Street Journal BofA Tests an Option to ForeclosureWall Street JournalBy NICK TIMIRAOS Bank of America Corp. is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let them rent the houses back from the bank at a market rate.BofA [...]
MiamiHerald.com Foreclosure Activity Rising In Some US States -RealtyTracWall Street JournalBy Amy Hoak CHICAGO (Dow Jones)–While foreclosure activity fell 8% nationally in February, compared with a year ago, foreclosures appear to be on the rise in some of the country's most populated metropolitan areas, according to RealtyTrac's latest …Foreclosure filings down, but 'tide' is comingSan [...]
Los Angeles Times Government Reports Detail Pressure on Foreclosure WorkersWall Street JournalA Bank of America manager apparently signed a foreclosure-related document about every two minutes of a typical work day for an entire two-month period, the inspector general said. The HUD inspector issued reports about foreclosure-handling practices …Watchdog says banks impeded foreclosure inquiryReutersReport: Bank managers [...]
AFP US, 49 States File Settlement Of Foreclosure-Abuse AllegationsWall Street JournalBy Alan Zibel and Nick Timiraos Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)–The US government and 49 states filed a $25 billion settlement of alleged foreclosure abuses in federal court on Monday, capping a year of negotiations with five major banks …$25B mortgage settlement with [...]
