The Securities and Exchange Commission (SEC) is in the process of settling old debts related to the accounting scandal that shook up government-sponsored enterprise Fannie Mae a few years back.
The Securities and Exchange Commission confirmed on Monday that $357 million in Fair Funds will be distributed to certain Fannie Mae stockholders in the future.
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Representatives in the Pine Tree State are pushing for legislation that will crack down on predatory lending by making lenders more accountable for the loans they issue. The new legislation, which is called the Maine Homeowner Protection Act, was introduced this week during a state house press conference by Maine’s Speaker of the House Glenn Cummings (D-Portland) and a coalition of other representatives.
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Santa Ana, California-based First American Title Insurance Co., an arm of The First American Corp., has promoted William Homa to the position of vice president and director of commercial sales and services.
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The Governor of Massachusetts implemented a foreclosure moratorium this week to save certain distressed borrowers from losing their homes.
Governor Patrick Deval launched the moratorium on Monday by asking Commissioner of Banks Steven Antonakes to review all foreclosure complaints filed at his office and determine on a case-by-case basis if a foreclosure delay should be requested from a lender.
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Freddie Mac, one of the nation’s largest government-sponsored enterprises (GSEs), remains committed to helping subprime borrowers out of risky loans and the current credit crunch, said Richard F.
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Melville, New York-based lender American Home Mortgage Investment Corp. is one of several companies to experience first quarter losses. The company’s first quarter results show its revenue dropping from $257.
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As homeowners continue to grapple with adjustable-rate mortgages and skyrocketing monthly payments, The National Association of Mortgage Processors (NAMP) predicts the Federal Housing Administration, or FHA loan, will replace subprime mortgages in the marketplace.
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Cincinnati, Ohio-based eLynx, an arm of American Capital Strategies Ltd., which provides a secure electronic document communications network for those in the financial services industry, announced a strategic partnership with Fresno, California-based MortgageDocs.
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Troy, Michigan-based Fabrizio & Brook P.C., a default servicing law firm, has announced some exciting developments within its organization.
The firm says attorneys Joseph G. Fabrizio and Paul J. Raine recently represented the law firm by serving as judges during a moot court competition at the University of Detroit-Mercy School of Law.
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A U.S. representative reintroduced the Predatory Lending Practice Reduction Act of 2007 on Thursday. The well-known act seeks to create regulations requiring all mortgage brokers and agents engaged in subprime to obtain federal certifications.
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A foreclosure hotline launched in New York City this week was designed specifically to help distressed borrowers facing foreclosure.
The city’s Comptroller William C. Thompson, Jr. announced the hotline’s creation during a press conference on Thursday.
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After spending 29 years in the real estate business, REO broker Elaine Simpson with McDaniel & Co. Realtors in Little Rock, Arkansas, did not hesitate when she received a great listing in a well-kept neighborhood.
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Vero Beach, Florida-based Opteum Financial Services, LLC (OFS), a subsidiary of Opteum Inc., has entered into a definitive agreement to sell a majority of the company’s private-label and agency mortgage servicing portfolio, according to a company press release.
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Tulsa, Oklahoma-based Williams & Willams, a real estate auction company, has hired Jennifer Capron as Supervisor of National Sales. In her new role, Capron will be responsible for managing residential properties for individual sales.
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Massachusetts Governor Deval L. Patrick announced several initiatives this week to help distressed homeowners struggling in the state’s rocky real estate market.
It is vital that we have an effective an immediate action plan in place to help homeowners facing foreclosure, said Governor Patrick.
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Calabasas, California-based Countrywide Financial Corp. reported a net earnings loss of approximately $188 million between the final quarter of 2006 and the first quarter of 2007, according to the company’s 2007 first quarter report.
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San Francisco-based First American LoanPerformance, an arm of The First American Corp., says industry professionals who specialize in managing, analyzing, servicing, or holding mortgage risk can now sign up for the company’s 19th Annual RiskSummit Conference, which will be held at the La Costa Resort & Spa in Carlsbad, California, from July 22-July 24, 2007.
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Arlington, Virginia-based Friedman, Billings, Ramsey Group Inc. (FBR Group), an investment banking platform, said challenges at one of its nonprime lending subsidiaries caused the company to experience $185.
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Seattle-based Washington Mutual, Inc.) has launched a new loan product designed to give borrowers more flexibility when choosing or refinancing their home loans.
The company’s latest WaMu Mortgage Plus™ product gives buyers the luxury of no closing fees, instant access to equity, and the ability to re-set the interest rate on their mortgages twice a year.
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David B. Zoffer has been named senior vice president- litigation counsel, of LandAmerica Financial Group, Inc. Zoffer will supervise the company’s litigation, claims, recovery, and clearance functions.
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