Tag Archives: Conservator

Short Sales Higher, Prices Lower

Buyer traffic is strong, supply of homes for sale is low, and yet home prices continue to defy the usual formula, falling again in March. Prices usually rise as supply shrinks, but demand is still too low to make those … Continue reading

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US Treasury Forcing Mortgage Principal Forgiveness

Late Friday the U.S. Treasury Department announced a major expansion of its Home Affordable Modification Program (HAMP). The three-year-old program has been largely deemed unsuccessful, as it has provided just about 750,000 borrowers with permanent loan modifications. The initial expectation … Continue reading

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President Obama Proposes Mortgage Refinances for ‘Responsible Borrowers’

After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are current on their … Continue reading

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Bulk Foreclosure Sales Could Cause Bigger Bank Write-Downs

As government, federal regulators and big-money private investors try to figure out a plan for bulk sales of foreclosed properties, big banks are already making deals, but they are few and far between. The trouble is, they are looking at … Continue reading

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Private Equity Readying a Run on Foreclosures

As the Obama administration and federal regulators work on a program to sell government-owned foreclosures in bulk to investors, those investors aren’t wasting any time stockpiling cash and buying foreclosed properties at auction and from the major banks. Oakland, California-based … Continue reading

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Government Set to Sell Foreclosures in Bulk

The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration … Continue reading

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Mortgage Modifications Wind Down As Foreclosures Heat Up

Mortgage modifications under the government’s bailout program, permanent and trials, and as well as proprietary modifications made by the big banks continue to fall and are falling at an increasing clip. You might think it’s because there are fewer troubled … Continue reading

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Lawmakers Contradict on Speeding up Foreclosures

Wednesday morning House Committee on Oversight and Government Reform Ranking Member Elijah Cummings (D-MD) issued a press release detailing a letter he sent to the conservator of Fannie Mae and Freddie Mac, FHFA Acting Director Ed DeMarco. The letter requested … Continue reading

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Federal Housing Finance Agency Under Inspector’s Fire

Given that the conservator of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency (FHFA) has been wielding incredible power of late in deciding how much the two mortgage giants can and cannot charge in guarantee fees and whom … Continue reading

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Fannie and Freddie’s Boss Speaks Out On Obama’s Refi Plan

Barely two weeks after President Obama proposed expanding a government mortgage refinance program in order to make millions more borrowers eligible, the man who would have to guide such a program announced yet another barrier to entry. The President’s plan … Continue reading

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