From the latimes.com: A $7.6-billion federal program to help unemployed homeowners stave off foreclosure has provided little relief two years after being unveiled, with less than $218 million of the money paid out to needy borrowers as of Jan. 1. California, which was...
From the latimes.com: Reporting from Washington— The regulator over Fannie Mae and Freddie Mac pushed back against mounting pressure that the mortgage finance giants start reducing the principal owed on troubled loans, insisting the practice could hurt taxpayers and...
From the latimes.com: California’s attorney general has asked for a suspension of foreclosures on loans controlled by Fannie Mae and Freddie Mac. Atty. Gen. Kamala D. Harris in a letter asked the regulator of the government-controlled mortgage titans to halt...
Excerpt from Nick's article at the wsj.com: When the principal reduction program was rolled out two years ago, those incentive payments weren’t extended to Fannie and Freddie, and their regulator has said there are less costly ways to help borrowers avoid foreclosure....
Excerpts from the latimes.com: California walked away with the biggest chunk of this week's landmark foreclosure settlement partly because of the state's size but also because of Bank of America's desire to escape the legacy of its Countrywide problems. The nation's...
Thank you taxpayers! From HW: The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday. Officials announced several critical changes to HAMP, including...
All of these guys are big talkers.....From HW: Democrats on the House oversight committee are pushing to subpoena the Federal Housing Finance Agency to obtain an analysis looking at what effects principal reductions would have on Fannie Mae and Freddie Mac. FHFA...
From cnbc.com: About one million American homeowners would get writedowns in the size of their mortgages under a proposed deal with banks over shady foreclosure practices, U.S. Housing and Urban Development Secretary Shaun Donovan said Wednesday. The deal, which...
An excerpt from cnnmoney.com, about respected Laurie Goodman, the current record holder for highest estimate of expected foreclosures across the country: On top of the 2.5 million homes that have already fallen to foreclosure since the bubble burst, another 4.5...
Does anybody know someone who got a principal reduction? From HW: A borrower is more likely to get a principal reduction than a short sale or deed-in-lieu of foreclosure under the Home Affordable Modification Program. The Home Affordable Foreclosure Alternatives...
