Wall Street Journal (04/17/12) Zibel, Alan New standards from the Federal Housing Finance Agency will require mortgage servicers to review and respond to short sale requests within 30 days of an offer on the property and provide weekly status updates if the offer is still under review after that. Mortgage firms will have to make [...]
Category | Mortgage News
Man sentenced to five years in prison for mortgage fraud scheme. A Carlsbad-based real estate consultant was sentenced to five years in prison for a multimillion dollar mortgage fraud scheme involving properties in Georgia, Florida and California, according to the U.S. Attorney’s office. John J. Borzellino was also ordered by U.S. District Court Judge Janis [...]
Did You Know? Recent years have seen a dramatic increase in the number of reported mortgage frauds in the U.S. According to a recent article in The Wall Street Journal, banks are reviewing their loan portfolios for questionable loans made during the housing boom, and that has caused a 31 percent increase in the number [...]
Startling new reports show the U.S. housing market is taking a turn for the worse, putting added pressure on families saving for retirement and on local governments that rely on property tax revenue to stay afloat. The trend is sure to squeeze local communities already faced with the prospect of declining federal aid, as they [...]
Government-owned mortgage companies Fannie Mae and Freddie Mac are encountering strong resistance from mortgage institutions and banks such as Bank of America and JPMorgan Chase in their drive to transfer defaulted home loans back to their original lenders. Fannie Mae and Freddie Mac are putting into effect agreements calling for banks to repurchase loans that [...]
Happy Thanksgiving As Thanksgiving is upon us, let’s give thanks for everything we have and the family we love. What a wonderful holiday (and excuse) to spend time with family and loved ones as we appreciate the simpler things in life. With warmest regards, my best wishes to you and your family this Thanksgiving. [...]
San Diego County single-family-home prices are facing an 8.5 percent fall over the next year now that buyers no longer have access to state and federal tax credits, Fiserv economists predicted Monday. Fiserv, which provides the data for the widely watched Standard & Poor’s/Case-Shiller Home Price Index, said San Diego prices rose 11.6 percent from [...]
