Home Loans

Why Despite A Chorus Of Critics, Fannie, Freddie Aren't Being Shutdown

Reuters | Posted 04.23.2012

Read More: Congress, Housing Market, Foreclosure Crisis, Video, Freddie Mac, Bailout, Reuters, Financial Services Committee, Obama Administration, Fannie Mae, Treasury Secretary Timothy Geithner, Home Loans, University of Pennsylvania's Wharton School, Business News

* Democrats and Republicans want to replace mortgage giants * No quick action from Congress expected in election year By...

Read Whole Story

ARMed and Dangerous: Why We Should Abolish Adjustable Rate Mortgages

Jane White | Posted 04.01.2012

Read More: Adjustable-Rate Mortgages, Mortgage Crisis, Timothy Geithner, Consumer Financial Protection Bureau, Home Loans, Underwater Mortgages, Money News

While many in the media have blamed the failures on reckless borrowers, the real driver of the crisis is lawless banks offering "bait-and-switch" adjustable rate mortgages.

Read Post

Watchdog: Mortgage Giants Too Free To Make Their Own Decisions

AP | CHRISTOPHER S. RUGABER | Posted 03.29.2012

Read More: Treasury Department, Video, Foreclosure Crisis, Freddie Mac, Bailout, U.S. Housing Regulator, Federal Housing Finance Agency, Financial Crisis, Fannie Mae, Foreclosure, Home Loans, Business News

WASHINGTON -- A government watchdog says the top U.S. housing regulator should take a more active role in overseeing mortgage giants Fannie Mae and Fr...

Read Whole Story

Black Borrowers Face Higher Hurdles in Lending, Study Shows

Posted 02.26.2012

Read More: Video, Mortgage Lenders, Lending, Bank of America, Mortgage Loans, Bank of America Countrywide, Real Estate, Racial Discrimination, Home Loans, Black Voices News

By Stefanos Chen This post originally appeared at AOL Real Estate. Qualifying for a loan in today's tight credit market is hard. But add rac...

Read Whole Story

BofA Tired Of Fannie Mae, Stops Selling Some Mortgages To Them

Reuters | Posted 04.25.2012

Read More: 401(K) Plans, Brian Moynihan, Video, Freddie Mac, Subprime Mortgages, Stocks, 10-K, Countrywide Financial, Reuters, Bank of America, Fannie Mae, Home Loans, Business News

* BofA cites Fannie Mae repurchase claims * Bank still selling loans to Freddie Mac * BofA freezing pension plan June 30...

Read Whole Story

Homeownership: Huge, Expensive Habit No One Can Break

HuffingtonPost.com | Ben Hallman | Posted 02.22.2012

Read More: Mortgages, Freddie Mac, Edward Demarco, Fannie Mae, Federal Housing Finance Agency, Financial Crisis, Homeowners, Foreclosure, Fhfa, Home Loans, Underwater Mortgages, Business News

Like many dangerous addictions, the government's reliance on Fannie Mae and Freddie Mac to make real the American dream of homeownership has turned in...

Read Whole Story

VA Loans Have a Huge Year, Remain Safest Lending Option on the Market

Chris Birk | Posted 04.02.2012

Read More: Refinancing, Department of Veterans Affairs, VA Loans, Home Loans, Business News

Military borrowers continue to flock to the safety, security and unmatched buying power of VA loans in the wake of the subprime mortgage meltdown and ensuing credit crunch.

Read Post

Big Banks Betting Wave Of Mortgage Defaults Will Slow

Reuters | Posted 03.29.2012

Read More: Video, Foreclosure Crisis, Big Banks Mortgages, Big Banks Home Loans, Reuters, Mortgage Crisis, Business News, Mortgage Loans, Big Banks, Home Loans, Business News

* Declining delinquencies spark hope that worst is passing * JPMorgan, Bank of America, Wells Fargo forecast savings * C...

Read Whole Story

Feds investigating possible fraud at GE's former subprime unit

The Center for Public Integrity | Posted 03.21.2012

Read More: Fbi, General Electric, Subprime Mortgages, Home Loans, Subprime Mortgage Crisis, Business News

By Michael Hudson and E. Scott Reckard, iWatch NewsFederal authorities are investigating possible fraud at General Electric Co.'s former subprime mort...

Read Post

BofA May Get To Move Its $8.5 Billion Settlement Back To State Court

Posted 12.27.2011

Read More: Bofa Settlement, Bank of New York Mellon, Countrywide Financial, Mortgage Crisis, Bank of America, Toxic Assets, Walnut Place, Metlife, Blackrock, Bofa, Bank of America Settlement, Home Loans, Bank of America Jurisdiction, Video, Business News

(JONATHAN STEMPEL, Reuters) - An appeals court on Tuesday granted an appeal of a controversial ruling that moved consideration of Bank of America ...

Read Whole Story

HARP Is Harping on the Wrong Solution and Bilking Taxpayers

Jerry Chautin | Posted 01.29.2012

The revised HARP program will help a few homeowners and investors at taxpayers' expense. It will release refinancing lenders from liability. And most disappointing, it may have no discernible effect on improving our economy.

Read Post

Government Sues Major Mortgage Lender For Billions Over Faulty Loans

Posted 01.01.2012

Read More: Federal Housing Administration, Allied Home Mortgage, Business News, Mortgage Crisis, Allied Home Mortgage Lawsuit, Video, Housing Crash, Home Loans, Housing Crisis, Department of Housing and Urban Development, Business News

The government sued Allied Home Mortgage Capital Corp and two top executives for at least $2.5 billion, accusing the company of fraud for misleadi...

Read Whole Story

Seven Terrifying Things They Don't Tell You About Bankruptcy

InvestingAnswers | Posted 11.29.2011

Read More: Debt, Bankruptcy, Credit Cards, Credit Card Debt, Chapter 13, Home Loans, Personal Finance, Chapter 7, Credit Report, Finance Advice, Credit Score, Bankruptcy Advice, Business News

Attorneys often tout bankruptcy as an easy way to get out of debt, but they downplay some of the serious long-term consequences. Before you decide if bankruptcy is right for you, consider seven realities first.

Read Post

Second-Lien Loans May Prompt New Losses For Banks

nytimes.com | GRETCHEN MORGENSON | Posted 09.16.2011

Read More: Foreclosure Crisis, Economy, Business News, Banks, Financial Crisis, Economic Recovery, Home Loans, Bank Loans, Recession, Business News

On Thursday, JPMorgan Chase said it earned $5.4 billion during the second quarter. On Friday, Citigroup said it earned $3.3 billion. Despite such h...

Read Whole Story

Bank Of America's Mortgage Business 'Struggling Mightily,' CEO Says

Posted 07.11.2011

Read More: Brian Moynihan, Profits, Bank of America Costs, Bank of America, Problem Mortgages, Bank of America Housing, Home Loans, Housing Crisis, Business News

CHARLOTTE, North Carolina (Joe Rauch) - Bank of America Corp (BAC.N) is working to improve profits by reducing its number of problem mortgages and...

Read Whole Story

Freddie Mac Posts First Quarterly Gain In Two Years

AP | By DEREK KRAVITZ | Posted 07.04.2011

Read More: Mortgage Crisis, Fannie Mae, Foreclosure, Subprime Crisis, Freddie Mac, Quarterly Earning, Home Loans, Quarterly Gain, Housing Crisis, Financial Capital Markets, Business News

WASHINGTON -- Freddie Mac reported earning $676 million in the January-March quarter, the first time the bailed-out mortgage giant has posted a quarte...

Read Whole Story

SEC Asked BofA For Details About Its Rainy Day Reserves

Posted 06.05.2011

Read More: Loan Loss Reserves, Sec, Mortgage Industry, Bofa, Securities and Exchange Commission, Foreclosure Abuse, Home Loans, SEC Bank of America, Business News

The Securities and Exchange Commission (SEC) sought information from Bank of America Corp (BAC.N) last year about the loan-loss reserves used to rep...

Read Whole Story

JP Morgan Chase Rolls Out New Protections for Military Borrowers

Chris Birk | Posted 05.25.2011

Read More: JP Morgan Chase, Mortgages, Foreclosure, Jamie Dimon, Servicemembers Civil Relief Act, Sept. 11, Home Loans, Veterans, Business News

Lending giant JP Morgan Chase is working to increase protections for military borrowers after the company overcharged thousands of service members and...

Read Post

Bank Of America Posts Big Loss On Bad Home Loans

AP | PALLAVI GOGOI | Posted 05.25.2011

Read More: Bank of America, Banks, Brian Moynihan, BofA Shares, Bofa, BofA 4Q, Home Loans, Bank of America Loss, Business News

It should come as no surprise that Brian Moynihan, CEO of Bank of America Corp., wants to put 2010 behind him. "Last year was a necessary repair and ...

Read Whole Story

Foreclosure Records Shattered In 2010

Posted 05.25.2011

Read More: Foreclosure Crisis, Foreclosure, Realtytrac, Mortgages, Mortgage Crisis, 2010 Foreclosure Rate, 2010 Foreclosures, Foreclosure Record, 2010 Total Foreclosures, Home Loans, Business News

WASHINGTON (Reuters) - Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few mont...

Read Whole Story

Home Loan Demand Drops To Lowest Level In A Year

Posted 05.25.2011

Read More: Mortgage Bankers Association, Home Loan Demand, Mortgage Applications, Real Estate, Mba, Home Loans, Business News

NEW YORK (Reuters) - Mortgage applications tumbled to their lowest level in nearly a year as a six-week-long rise in interest rates took a significant...

Read Whole Story

Homeowners Say Loan Modifications Led Them To Foreclose

AP | JACOB ADELMAN | Posted 05.25.2011

Read More: Homeowners, Home Loans, Housing Market, Loan Modifications, Housing Crisis, Foreclosures, Foreclosure Crisis, Business News, Business News

LOS ANGELES — Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Cha...

Read Whole Story

Refinancing Surges Even As Foreclosure Crisis Mounts

Bloomberg | Jody Shenn | Posted 05.25.2011

Read More: Refinancing Surge, Foreclosure Crisis, Low Interest Rates, Mortgage, Economy, Wells Fargo, Bank of America, Home Loans, Home Sales, Business News, Business News

A rush by U.S. homeowners to refinance at near record-low interest rates marks a rare bright spot for the mortgage industry, under attack for choking ...

Read Whole Story

Foreclosure Fraud Is the Tip of the Iceberg

Gordon Whitman | Posted 05.25.2011

Read More: Mortgage Crisis, Treasury Department, Timothy Geithner, Foreclosure Crisis, Foreclosure, Foreclosure Freeze, Foreclosure Fraud, Home Loans, Politics News

One year ago, homeowners from California, Missouri and Massachusetts marched into the U.S. Treasury and handed officials a foot-high stack of documents from 150 families trying to save their homes.

Read Post

Property Rights Gone Wrong

Dylan Ratigan | Posted 05.25.2011

Read More: Mortgage Crisis, Fannie Mae, Federal Reserve, Banks, Mortgage-Backed Securities, Fraudulent-Lending, Home Loans, Politics News

Banks profited by packaging and selling those toxic home loans. Then they profited again by betting against those same securities. A bet, in essence, that a fraudulent loan wouldn't be paid back. But why would politicians allow this?

Read Post