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Loan Modifications

Shahien Nasiripour

Treasury Getting More Comfortable With Principal Write-Downs -- Sort Of

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Is the Treasury Department finally going to help homeowners who owe more than their homes are worth get out from underwater? Maybe, maybe not. At a ...

Shahien Nasiripour

Obama Plan To Modify Second Mortgages Has Yet To Help One Homeowner

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Nearly a year after the Obama administration announced a plan to help up to 1.5 million struggling homeowners modify their second mortgages, not a sin...

Obama Administration Floats Idea To Ban All Foreclosures Until Government Review

Bloomberg | Posted 05.25.2011 | Business

Feb. 25 (Bloomberg) -- The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they ha...

Shahien Nasiripour

Top Treasury Official Backs Off Promise To Stem Foreclosure Crisis, Signature Initiative May Fall Short

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A top Treasury Department official indicated Thursday that the Obama administration's signature foreclosure-prevention initiative may not deliver on i...

Fighting Foreclosure: Wells Fargo, You Never Knew What Hit You

Wajahat Ali | Posted 05.25.2011 | Business
Wajahat Ali

I was the guy who was going to save these people from being evicted from their own home? Who was I kidding?

Shahien Nasiripour

Obama Announces 'Modest' Foreclosure-Prevention Initiative

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

In what senior administration officials repeatedly stressed as a "modest" effort, President Barack Obama announced a $1.5 billion initiative to help f...

Burning Down the House

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

Foreclosure breeds foreclosure. This is sometimes called the contagion effect. As home values fall and homes fall into disrepair, today's foreclosures inextricably set up those which will occur tomorrow.

Shahien Nasiripour

Obama Foreclosure Program Shows Slight Gains, Though Troubling Trends Remain (CHARTS)

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

One in five eligible homeowners has received the kind of long-lasting relief promised by the Obama administration's signature foreclosure-prevention i...

Shahien Nasiripour

Obama Administration Knew Foreclosure Program Wasn't Working Right, Did Nothing

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

This story has been updated: See below. Even as the Obama administration's signature foreclosure-prevention program has foundered, Treasury Departmen...

Shahien Nasiripour

Treasury Announces Fix To Foreclosure-Prevention Plan, But Nearly 500K Homeowners At Risk Of Being Bounced

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

With as many as 450,000 troubled homeowners in danger of being bounced out of the Obama administration's signature foreclosure-prevention program due ...

Shahien Nasiripour

State Regulators: Foreclosure Prevention Efforts Are Failing Because They Don't Reduce Principal

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

*This story has been updated* Lackluster foreclosure-prevention efforts and the dearth of principal reductions risk plunging more homeowners into for...

Loan Modification Performance Chart

ProPublica | Posted 05.25.2011 | Business
ProPublica

On Jan. 15, 2010, the Treasury Department released data showing how the largest mortgage servicers participating in the administration's $75 billion foreclosure prevention program have been performing.

Mortgage Principal Reduction: Why "Re-Equifying" Borrowers Could Exacerbate The Mortgage Mess

WSJ | James R. Hagerty | Posted 05.25.2011 | Business

Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equi...

Stephen Colbert Takes On The 'Walk Away From Your Mortgage' Movement (VIDEO)

Posted 05.25.2011 | Business

With an increasing number of people walking away from their underwater mortgages, there's much discussion among the chattering classes about so-called...

Obama's Loan Modification Plan 'Destined To Fail': Amherst Securities (TRANSCRIPT)

Posted 05.25.2011 | Business

In Congressional testimony today, a mortgage market expert offered scathing criticism of the Obama administration's plan to help distressed homeowners...

Couple Torture Loan-Modification Agents

Reuters | Steve Gorman | Posted 05.25.2011 | Business

As Los Angeles housing advocates launched a campaign warning of mortgage rescue scams, a couple hit by foreclosure are charged with torturing two loan...

Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 05.25.2011 | Business

Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center...

Foreclosure 'SWAT Teams' Unleashed By Treasury Department: NPR

npr.org | Weekend Edition Sunday | Posted 05.25.2011 | Business

The Treasury Department has started dispatching what it calls foreclosure "SWAT teams" to big banks to take a hard look at their operations. ...

White House Plans To Step Up Pressure On Lenders To Help Homeowners

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON (AP/HuffPost)-- The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage...

Ocwen Bank: Fun With Numbers

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Ocwen Financial is responsible for 45 percent of all the successful loan modifications in the country. Wow, 45 percent. If I hadn't almost flunked math, I'd think that was almost half.

Shahien Nasiripour

Nine Months Later, Obama Plan To Help 1.5 Million Struggling Homeowners Yet To Launch

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

An Obama administration plan announced in April to help up to half of all struggling homeowners modify their second mortgages has yet to officially la...

Gretchen Morgenson: Why The Treasury Needs A Plan B For Mortgages

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

A stalled loan modification plan might not be worrisome if the foreclosure crisis were abating. Yet at the end of September, a record 14.4 percent of ...

Fighting Loan Modification Scams

Antonio Villaraigosa | Posted 05.25.2011 | Politics
Antonio Villaraigosa

Today, I took a big step in helping homeowners to combat loan scams and foreclosure fraud, the start of NeighborWorks America's national campaign against loan modification scams.

Shahien Nasiripour

Mortgage Loan Modification: More Offers Extended, Fewer Homeowners Accepting -- Are Homeowners Losing Hope?

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

While the Obama administration and reporters trumpet the fact that the administration is about a month early in reaching its stated goal of modifying ...

NYT Norris: "Banks Losing Paperwork? What Am I Missing?"

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Reporters, journalists, and correspondents ideally report all sides of a story...When a reporter panders to the industry they are covering they do a disservice to the public that turns to them for the truth.