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President Announces Increased Mortgage Relief

1/25/2012 6:00 PM

President Obama, in his Jan. 24 State of the Union address, announced legislation that would allow millions of homeowners to refinance their current home loans into new ones guaranteed by the Federal Housing Administration, The New York Times reported. “I’m sending this Congress a plan that gives every responsible homeowner the chance to save about...Read More

Lenders, Attorneys General Agree to $25 Billion Settlement

1/25/2012 6:00 PM

The nation's five largest mortgage lenders have agreed to a $25 billion settlement hashed out by state attorneys general, The Associated Press reported Jan. 23...Read More

Cordray Likely to Shake Up FDIC

1/25/2012 6:00 PM

Richard Cordray’s recess-appointment as director of the Consumer Financial Protection Bureau isn’t the only thing that has Republicans and some bankers raising objections, National Mortgage News reported Jan. 17. Under the Dodd-Frank Act, the CFPB director also sits on the Federal Deposit Insurance Corp. board....Read More

CFPB to Collaborate with Municipal Governments, Identify Predatory Lenders

1/25/2012 6:00 PM

Richard Cordray, director of the Consumer Financial Protection Bureau, announced Jan. 18 that his agency would be collaborating with municipal governments to identify predatory lenders, HousingWire reported. The announcement came during the Conference of Mayors in Washington, D.C. Cordray told the group that individual financial problems could quic...Read More

Feds Fight Chicago on Vacant Property Ordinance

1/25/2012 6:00 PM

A federal judge tabled the Federal Housing Finance Agency’s request for a summary judgment Jan. 19 that would have ended its case against Chicago over the city’s vacant property ordinance, the Chicago Tribune reported...Read More

CalPERS to Dump Much of its Real Estate Portfolio

1/25/2012 6:00 PM

The California Public Employees’ Retirement System, the nation’s biggest public pension fund invested in residential housing and land deals, has prepared a significant amount of its real estate for sale at a huge loss, The Wall Street Journal reported Jan. 18. CalPERS is selling its portfolio of 28 housing developments to a partnership formed betwe...Read More

$50 Million Foreclosed Homes-to-Rentals Program Planned

1/25/2012 6:00 PM

Carrington Holding Co. and Oaktree Capital Management have created a partnership to purchase up to $50 million in vacant foreclosed homes with plans to convert them into rentals, HousingWire reported Jan. 18...Read More

Freddie Mac: Quick Recovery Unlikely in 2012

1/25/2012 6:00 PM

Freddie Mac released its U.S. Economic and Housing Market Outlook Jan. 18, and the report showed that the economy had improved compared to one year ago, but noted doubts about a recovery this year...Read More

CoreLogic: Slow but Steady Housing Recovery

1/25/2012 6:00 PM

Affordable mortgage rates and low home prices are among the economic and consumer developments that could contribute to a housing recovery in 2012, according to CoreLogic’s new MarketPulse report released Jan. 18...Read More

Originators Concerned about Regulation of Mortgage Industry

1/25/2012 6:00 PM

More than 50 percent of mortgage originators said their main challenge for 2012 would be the oversight and regulation of the mortgage industry, according to results from the second annual Survey of Originator Opinions released Jan. 17. The survey of 400 mortgage loan originators was conducted by Hammerhouse, LLC, a national recruiting firm speciali...Read More

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