A U.S. District Court has dismissed a derivatives lawsuit filed by Fannie Mae shareholders against some of the company’s former leaders and current directors.
The original lawsuit was intended to hold certain Fannie Mae directors and former executives, Franklin Raines and J.
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Federal regulatory agencies released illustrations this week to help mortgage consumers better understand the differences between alternative loans and fixed-rate mortgage products.
The Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of Currency, and the Office of Thrift Supervision spearheaded the creation of the illustrations to help lending institutions implement the consumer protection portion of the Interagency Guidance on Nontraditional Mortgage Product Risks adopted in 2006.
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While pending home sales in the U.S. dropped 3.2-percent between the months of March and April, the Pending Home Sales Index does show signs of a possible leveling out period, according to the National Association of Realtors (NAR).
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Springboro, Ohio-based Laurito & Laurito, L.L.C., a law firm that provides the default servicing industry with representation and loss mitigation assistance, has hired Casey R. Crosley as a new associate attorney.
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Andrew Karr has been appointed as president and general counsel for AmeriPoint’s newest location in Austin, Texas.
The office will be located in the Arboretum Atrium at 9737 Great Hills Trail.
AmeriPoint Title, a partnership of independent title companies, offers personal services to meet the title insurance needs for its residential and commercial clients.
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NeighborWorks America, a national nonprofit dedicated to community development, expects more than 40,000 participants during the 24th Annual NeighborWorks Week campaign.
The event, which runs from June 2-9, encourages homeowners across the nation to improve the value of homeownership by participating in events that foster routine property maintenance and home repairs.
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Freddie Mac, one of the nation’s largest investors in residential mortgages, continues to promote and fund Nuestro Barrio, a Spanish-language TV mini-series about Hispanic life in the U.S.
The 13-episode series is expanding its reach in 10 media markets on public access television, beginning June 1 on the Spanish language network V-me.
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The state of Delaware is set to have a record-breaking year when it comes to the number of foreclosures filed in the state’s three counties, according to Gerry Kelly, deputy banking commissioner of community affairs at the Delaware Office of the State Bank Commissioner.
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The Mortgage Bankers Association (MBA) released its weekly Mortgage Applications Survey on Wednesday, which shows a drop in the number of mortgage applications filed during the week ending May 25.
According to the MBA’s report, the Market Composite Index—a measure of mortgage loan volume—dropped 7.
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The number of foreclosure filings in Ohio has reached an alarming level, according to a report from Policy Matters Ohio nonprofit research institute that calculates the number of sheriff sales and foreclosures in the state on a biennial basis.
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With foreclosure and pre-foreclosure properties peeking the interest of investors nationwide, Irvine, California-based RealtyTrac
is introducing a new online tool—RealtyTrac Rooftop Views™—so online users can access aerial views (or rooftop views) of foreclosure properties via the Web.
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Hudson & Marshall of Texas, Inc., one of the nation’s largest auction companies, will be selling off a collection of California foreclosures valued at $65 million in June.
The auctions, which run from June 12 to June 17, will feature homes located in the cities of Bakersfield, San Diego, Santa Maria, Los Angeles, Victorville, and West Palm Springs.
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Mark Schultz has been named the new managing director for Reliable Defeasance, a full-service capital markets advisor dedicated to the CMBS market.
Reliable, a Los Angeles-based real estate company, validates market pricing on clients’ transactions using proprietary financial systems and has handled more than $500 million in more than 50 transactions.
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A 73-percent increase in May foreclosures over last year has prompted a Northwest Florida company to reach out to distressed homeowners in the area.
The company, Residential Solutions Plus LLC (RSP) of Pensacola, Florida, says in a press release that it became alarmed when the Escambia County Clerk of Court (in Northwest Florida) recorded 529 foreclosures in May of this year, compared to 305 last year — a 73-percent increase.
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The American Financial Services Association (AFSA) released a study on Tuesday saying over-regulation in the mortgage market could have the unattended effect of hurting subprime borrowers, rather than saving them from foreclosure.
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Tighter lending standards and the loss of subprime products in the marketplace contributed to a significant drop in existing home sales in April, according to a new report from the National Association of Realtors (NAR).
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The California Association of Realtors (C.A.R.) says home sales decreased 27.8-percent in April due to uncertainty in the market and the affects of tighter lending standards on mortgage loans.
April sales fell in part because of tighter lending standards and growing concerns about the impact of subprime loans on the market, said C.
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The Real Estate Disposition Corporation (REDC), an affiliate of LandAuction.com, Inc. and NRP Holding Co., raised nearly $100,000,000 during its 3-day live auction event in Irvine, CA.
Ninety-five percent of all REO properties were sold to the 4,000 registered bidders who attended, in what was considered to be the largest residential REO auction in U.
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Irvine, California-based New Century Financial Corp. says a probe of its financial statements recently uncovered errors that were probably made in the lender’s 2005 financial statements.
In a filing with the Securities and Exchange Commission, New Century said the 2005 reporting errors were related to the company’s accounting and reporting on loan repurchases.
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A dramatic increase in foreclosures nationwide has prompted several regulatory agencies to launch a series of programs designed to help distressed borrowers living in the states of Arizona, California, and Nevada.
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