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Mortgage

Zach Carter

CPAC Chief Tied To Fannie Mae, Foreclosure Mill

HuffingtonPost.com | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- The new head of the American Conservative Union, the group which hosts the annual Conservative Political Action Conference, has ties to ...

Foreclosure Crisis Not Over As Mortgage Modifications Fail, Spark Economic Stress

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

Despite signs of economic improvement, the foreclosure crisis is far from over. According to a piece of fresh data released on Monday, low levels of ...

Zach Carter

Fed Officially Abandons Plan To Gut Predatory Lending Rule

HuffingtonPost.com | Zach Carter | Posted 05.25.2011 | Business

WASHINGTON -- The Federal Reserve Board of Governors confirmed Tuesday that it will not proceed with plans to gut a principal federal remedy for preda...

Quicken Loans Turns Success into a Philosophy

Jason Schmitt | Posted 05.25.2011 | Business
Jason Schmitt

Dan Gilbert has figured a few things out for us, one being it is possible to create a workforce that is positive in this economic climate. But it is not easy.

Gretchen Morgenson: Banks Bad Mortgage Paperwork Isn't Blowing Away

The New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

KUDOS to the Congressional Oversight Panel for publishing a thoughtful and thorough report last week on the mortgage documentation mess. It argued tha...

Obama Pulls a Clinton

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

When Bill Clinton suffered a midterm reversal, he abruptly embraced the corporate money guys who had financed his opposition in an effort to purchase a second term. Now we have Barack Obama, and the same cycle begins anew.

A New Year's Resolution: Fixing the Mortgage Mess, and More

Allan Abramson | Posted 05.25.2011 | Politics
Allan Abramson

Proposition: There is a way to stabilize the housing market, end foreclosures, provide several trillions in stimulus funding, and not add to the federal debt. Read on.

A New Approach to America's Mortgage Crisis: Innovation and Collaboration

Richard French | Posted 05.25.2011 | Business
Richard French

So far, there have been few solutions for upside down/underwater homeowners and the mortgage lenders and servicers who own these loans.

Bankers Win: No Capitol Hill Action on Mortgage Foreclosure Protection for Two Years

Peter G. Miller | Posted 05.25.2011 | Business
Peter G. Miller

Stashed away in a draw somewhere on Capitol Hill is a simple piece of legislation that would have done much to stop the mortgage mess, robo-signing, unfair foreclosures, and the growing claims against lenders.

Mortgage Rates Low: Level Matches Lowest In Decades

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Rates on 30-year mortgages matched the lowest level in decades and rates on 15-year loans dropped to their lowest point in nearly 2...

Complicated Chart Shows Who Owns Mortgage (CHART)

Posted 05.25.2011 | Business

We all know the mortgage securitization process is complicated. But just how complicated? This chart from Zero Hedge shows the convoluted journey a m...

The Man Who Shattered Our Economy

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

Sandy Weill, who as former CEO of Citigroup did so much to create the foreclosure crisis, just bought a Sonoma wine vineyard for a record $31 million. No doubt his will be the grapes of wrath.

Banks Face $31 Billion Loss On Mortgage Buybacks: Report

Reuters | Maria Aspan and David Zimmerman | Posted 05.25.2011 | Business

NEW YORK (Reuters) - The top U.S. banks could face up to $31 billion in losses from buying back bad mortgages, Standard & Poor's said in a report on ...

Freddie Mac Posts HUGE Loss In 3Q, Wants $100 Million In Aid

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Government-controlled mortgage buyer Freddie Mac managed a narrower loss of $4.1 billion for the third quarter and asked for an add...

Payback at the Polls

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

The tea party is now in the awkward position previously occupied by the Obama hope crusade of having to deliver and will suffer a similar political fate if it fails to deal with the economic crisis.

Secrets of Florida's "Foreclosure King"

David Callahan | Posted 05.25.2011 | Business
David Callahan

A troubling truth about today's white collar crime wave is that wherever there is a complicated fraud, there is usually a lawyer helping make it happe...

Home Prices Fall As Housing Market Shows Signs Of Trouble

Posted 05.25.2011 | Business

WASHINGTON (AP, BY ALAN ZIBEL) -- Home prices are weakening around the country, even in metro areas that were showing strength earlier in the year. T...

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 ...

Home Sales Up In September, But More Troubles Ahead

AP | ALAN ZIBEL and JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Sales of previously occupied homes rose last month after the worst summer for the housing market in more than a decade. And fears o...

Ben Bernanke: Regulators Looking Into Foreclosure Mess

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclos...

Foreclosures: Why The New York Times Is Wrong

Peter G. Miller | Posted 05.25.2011 | Media
Peter G. Miller

The latest stumble in the foreclosure mess -- and probably not the last -- has been the revelation that huge numbers of sworn affidavits have been i...

Obama Hires a Hustler

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

The more one learns about the political roots of our economic meltdown, the more the Democratic Party stands revealed as an equal partner with the Republicans at the center of corruption.

Weekly Audit: Foreclosuregate Hits Home

The Media Consortium | Posted 05.25.2011 | Politics
The Media Consortium

Weekly Audit: Foreclosuregate Hits Homeby Lindsay Beyerstein, Media Consortium blogger Earlier this month, Bank of America (BOA), the country's larges...

Mortgage Damage Spreads: Big Bank Stocks Hit Again As Modern Finance Collides With The Legal System

Wall Street Journal | Posted 05.25.2011 | Business

The unfolding foreclosure-processing debacle is causing bank stocks to slide and putting millions of delinquent borrowers in limbo. But how disruptiv...

Friday Talking Points [143] -- Don't Ask, Don't Tell, Don't Appeal?

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

[OK, that was rather a fun title to write, but I have to at least begin with a warning that, while today's column is almost completely Obama-centric i...