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Mortgage Modification

Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI's Seeming Blind Eye

Suzanne O'Keeffe | Posted 05.25.2011 | Business
Suzanne O'Keeffe

To combat mortgage and foreclosure fraud, we first need to understand the nature of the fraud. There are the small-potato schemes -- the loan modifica...

Arizona Sues Bank Of America, Alleges Loan Modification Fraud

AP | BOB CHRISTIE | Posted 05.25.2011 | Business

PHOENIX — Attorneys general in Arizona and Nevada filed civil lawsuits Friday against Bank of America Corp., alleging that the lender is mislead...

Borrowers Who Try & Try Again Rarely Succeed

Lita Smith-Mines | Posted 05.25.2011 | Business
Lita Smith-Mines

"If at first you don't succeed, try, try again" really doesn't apply when dealing with many mortgage holders.

Alan Greenspan, Animal House and the Scandal That Never Ends

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

As I've tried to make sense of the Robo-Signing, Document-Backdating Foreclosure Scandal That Never Ends, a couple of things have popped in my head: Animal House and Alan Greenspan. Stay with me here.

William Alden

WATCH: Treasury Admits It Hasn't Fined Banks For Failing To Modify Mortgages | William Alden | Posted 05.25.2011 | Business

A top Treasury department official said Thursday that the government has still not imposed any fines on banks that do not comply with the Obama admini...

B of A Blames Investors for Lack of Loan Mods, But....

ProPublica | Posted 05.25.2011 | Business

Homeowners have long been told that investors are frequently denying them help from a federal program created to foster loan modifications. But that's simply not the case. Investors rarely have a say in loan modifications or block such modifications.

'Winning' And 'Empathy' At Bank of America Call Center, Despite Alleged Mortgage Flaws

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Even as concerns over the legitimacy of mortgage documents plague homeowners and investors nationwide, the office of a Bank of America mortgage modifi...

Arthur Delaney

Woman Starts Hunger Strike, Protests Foreclosure | Arthur Delaney | Posted 05.25.2011 | Business

A Baltimore woman who is losing her home started a hunger strike on Monday morning to draw attention to the national foreclosure crisis and the diffic...

Arthur Delaney

Bank Of America Boasts About Its Poor HAMP Performance | Arthur Delaney | Posted 05.25.2011 | Business

Bank of America executive Rebecca Mairone, in response to calls for the federal government to put the nation's largest bank into receivership, is boas...

Arthur Delaney

Obama: More Aggressive Anti-Foreclosure Efforts Would Help Undeserving People | Arthur Delaney | Posted 05.25.2011 | Business

WASHINGTON -- President Barack Obama defended his administration's beleaguered foreclosure-prevention initiatives on Wednesday by arguing that more ag...

Treasury's Incredible Shrinking Mortgage Mod Program

ProPublica | Posted 05.25.2011 | Politics

The number of homeowners in ongoing mortgage modifications could start shrinking in several months if current trends continue, according to a ProPublica analysis of Treasury Department data.

Arthur Delaney

Homeowners Protest HAMP: 'It's Just A Scam And The Banks Are Getting Everything' | Arthur Delaney | Posted 05.25.2011 | Business

WASHINGTON -- Judy Stratton said she and her husband Harry have tried since January 2009 to modify the mortgage on their home in Stayton, Ore. after a...

Arthur Delaney

Federal Auditor Says Obama's Anti-Foreclosure Effort Risks 'Generating Public Anger And Mistrust' | Arthur Delaney | Posted 05.25.2011 | Business

The Obama administration's signature anti-foreclosure effort, unveiled in 2009 with the promise of helping three to four million homeowners modify the...

Shahien Nasiripour

Top Fed Official On Government's Foreclosure Prevention Efforts: 'Three Years Of Failed Policies' | Shahien Nasiripour | Posted 05.25.2011 | Business

One of the Federal Reserve's top economists denounced the Obama administration's approach to stemming the growing foreclosure crisis, saying it's part...

Arthur Delaney

In Their Own Words: Big Banks On Why They Won't Give You A HAMP Modification | Arthur Delaney | Posted 05.25.2011 | Business

Lawyers for homeowners who have been denied mortgage modifications under the Obama administration's Home Affordable Modification Program make a straig...

Arthur Delaney

Lawsuits Reflect Widespread Frustration With Government's Mortgage Modification Program | Arthur Delaney | Posted 05.25.2011 | Business

A federal judicial panel recently consolidated class-action lawsuits from across the country alleging that Bank of America treated homeowners with bad...

Arthur Delaney

Questioning The White House: Would A Foreclosure Moratorium Really Hurt Homeowners? | Arthur Delaney | Posted 05.25.2011 | Business

The Obama administration is resisting calls for a national foreclosure moratorium amid a foreclosure fraud scandal that has already forced some of the...

Arthur Delaney

One Man's HAMP HELL: 'Just Wait This Thing Out' | Arthur Delaney | Posted 05.25.2011 | Business

Troy Taliancich said he applied for a mortgage modification via the Obama administration's Making Home Affordable program in January after falling beh...

Watchdog Slams Companies Government Hired To Prevent Foreclosures

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — The bailed-out mortgage companies hired by the Treasury Department to manage its main program designed to prevent foreclosures probably...

The Final HUD OIG Report on AHCOA

Mike Shea | Posted 05.25.2011 | Chicago
Mike Shea

The Department of Housing and Urban Development's Office of the Inspector General (HUD OIG) has issued a final report evaluating the use of grant fund...

Shahien Nasiripour

Obama Homeowner Program Hits 10-Month Low As Prices Drop And Foreclosures Surge | Shahien Nasiripour | Posted 05.25.2011 | Business

The number of homeowners receiving permanent relief under the Obama administration's primary foreclosure-prevention initiative hit a 10-month low as h...

Grim Housing Choice: Help Today's Owners Or Future Ones

New York Times | Posted 05.25.2011 | Business

The unexpectedly deep plunge in home sales this summer is likely to force the Obama administration to choose between future homeowners and current one...

Serving Your Country? Bank of America Wants Your House...At Any Cost.

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

The HAMP program has done little more than give mortgage servicers an incentive and in some people' s eyes the encouragement by Treasury to suck what little money homeowners have left before throwing them out of their homes.

Shahien Nasiripour

EXTEND AND PRETEND: The Obama Administration's Failed Foreclosure Program | Shahien Nasiripour | Posted 05.25.2011 | Business

President Barack Obama's signature plan to combat the housing crisis has fallen short of its goals -- rather than significantly and permanently reduci...

Shahien Nasiripour

HAMP Report Revised After Analysts Question New Metric | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 8:00 p.m. ET to include two comments from a Treasury Department official. The Obama administration has revised its latest m...