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Tue Feb 09, 2010
The House Committee on Oversight and Government Reform has launched an official investigation into the federal government’s foreclosure prevention program.
According to a statement from the head of the committee, the probe was triggered by complaints that servicers have been slow and inconsistent in modifying loans under the Making Home Affordable (MHA) program, and are not communicating clearly with eligible homeowners.
The distressed commercial real estate market has made it difficult for potential property owners and opportunistic investors to secure funding for new deals, as widespread losses on such assets have led banks to shy away from extending credit in recent months. But according to new data from Jones Lang LaSalle that tide appears to have turned, with a growing number of lenders to the commercial real estate sector anticipating an increase in loan production this year.
MBA has agreed to sell its D.C. headquarters, after finding itself underwater on the mortgage. Read More
The comprehensive Home Affordability and Stability Plan, introduced by the Obama administration in March 2009, was created in hopes of providing refinance and modification options for millions of homeowners. So far, thou ... read more
Despite the static housing economy, RE/MAX, a global real estate company based in Denver, earned No. 1 market share status in the Twin Cities 13-county metro for number of listings sold between January 1, 2009 and Decemb ... read more
Multiple bank closures have become commonplace on Friday evenings, but last week, regulators shut the doors on just one institution - 1st American State Bank of Minnesota. The bank operated two local branches in Hancock, ... read more
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