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Home Loans

Foreclosure Records Shattered In 2010

Posted 05.25.2011 | Business

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...

Home Loan Demand Drops To Lowest Level In A Year

Posted 05.25.2011 | Business

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...

Homeowners Say Loan Modifications Led Them To Foreclose

AP | JACOB ADELMAN | Posted 05.25.2011 | Business

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

Refinancing Surges Even As Foreclosure Crisis Mounts

Bloomberg | Jody Shenn | Posted 05.25.2011 | Business

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 ...

Foreclosure Fraud Is the Tip of the Iceberg

Gordon Whitman | Posted 05.25.2011 | Politics
Gordon Whitman

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.

Property Rights Gone Wrong

Dylan Ratigan | Posted 05.25.2011 | Politics
Dylan Ratigan

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?

A Visit To A Loan Modification Marathon

FDL News Desk | David Dayen | Posted 05.25.2011 | Business

I walked through the Los Angeles Convention Center on Saturday, past the marquee blaring the finals of the World Cyber Games, known as the Olympics of...

William Alden

Foreclosure Repossessions Hit Record High in August | William Alden | Posted 05.25.2011 | Business

August saw more Americans lose their homes to foreclosure than any other month on record, RealtyTrac reported today. Banks repossessed a total of 9...

Wells Fargo's 'College-Application-Type Essays' Violate Fair Housing Act | TARA SIEGEL BERNARD | Posted 05.25.2011 | Business

When Linda Falcão applied for a mortgage from Wells Fargo, she didn't realize she would be required to write the type of essay that's more commonly i...

1 MILLION Americans Expected To Lose Homes In 2010

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — Rosalyn Dalebout rents out space in her home to three tenants, has cut off her phone service and canceled her earthquake and life ...

A Tale of Two Worlds

Gary Liberson, PhD | Posted 05.25.2011 | Politics
Gary Liberson, PhD

Housing completions are at a 50-year low and our unemployment is at a 50-year high. I am sure the Fed will cut interest rates. We do not have an interest rate problem. We have a bank problem.

Liar's Loans

Christopher Carduff | Posted 09.18.2012 | Business
Christopher Carduff

A great lie is repeated as the cause of our current economic crisis, and it prevents us from dealing with reality.

Jason Linkins

JPMorgan Executive Mobbed By Borrowers After Inviting Them To Bring Him Their Complaints | Jason Linkins | Posted 05.25.2011 | Business

David Lowman, chief executive for JPMorgan Chase's home mortgage division, may have gotten a little ahead of himself at yesterday's House Financial Se...

Freddie Mac and Fannie Mae Must Marry, Shrink and Change

Jerry Chautin | Posted 05.25.2011 | Politics
Jerry Chautin

But the time is right to merge Fannie Mae and Freddie Mac and form three separate companies. That is the best way to lead the GSEs out of federal conservatorship and repay the taxpayers.

Michael Burry: The Unlikely Billionaire Investor In Michael Lewis's Latest Book

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

In his new book, "The Big Short" -- excerpted in the latest Vanity Fair -- Michael Lewis profiles the value investor who foresaw the mortgage meltdown...

Rep. Brad Miller: The

UnHAMPered | Rep. Brad Miller | Posted 05.25.2011 | Business

As part of its initial legislative barrage on the economic crisis, the Roosevelt administration created the Home Owners' Loan Corporation ("HOLC") in ...

Elkhart, Ind.: How One Town Relies On The Government's Enormous Support For The Housing Market | DAVID STREITFELD | Posted 05.25.2011 | Business

More than one in 10 mortgage holders in Elkhart is seriously behind on payments. The median sales price has plunged to the level of a decade ago. Many...

Mortgage Modification Plan Has Helped 20 Percent Of Eligible In Califofrnia, Nevada And Arizona

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but most ...

Foreclosures: Prime Borrowers Are The Latest Victims

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down hou...

Big Banks Repeatedly Bending Loan Modification Rules

ProPublica | Posted 05.25.2011 | Business

Nathan Reynolds is something of an expert on the government's foreclosure prevention program. A mortgage broker who's worked in the Chicago area since...

Preventing Foreclosure: How To Cope With Negative Equity

Mainstreet | Brian O'Connell | Posted 05.25.2011 | Business

You wouldn't know it from the national media, but just because your home loan is underwater -- meaning you owe more than the house is worth -- that do...

Gretchen Morgenson: Lobbyists Win Again In Securing Tax Break For Home Builders

Huffington Post | Nicholas Graham | Posted 05.25.2011 | Business

The New York Times's Gretchen Morgenson points out that lobbyists have won another victory that will lead to billions in taxpayer dollars being handed...

Homeowners Often Rejected Under Obama's Make Home Affordable Loan Modification Plan

McClatchy | Kevin G. Hall | McClatchy Newspapers | Posted 05.25.2011 | Politics

WASHINGTON -- Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are hold...

Home Loans Brokered By Nonprofits Helped Fuel The Housing Crisis

The Huffington Post Investigative Fund | Jeff Horwitz and Dave Jamieson | Posted 05.25.2011 | Business

Before the housing boom got underway in the late 1990s, a California nonprofit group hatched an idea to help families who qualified for government-bac...

Brokering the Bailout

John O'Kane | Posted 05.25.2011 | Politics
John O'Kane

Bailing out big banks has hardly contributed to a climate conducive to free markets and competition. On the contrary, it has allowed institutions already too big to fail to gobble up other banks.