The Foreclosure Prevention Act of 2008—a legislative package that aims to help families with an assortment of legislative measures such as allowing judges to modify existing loan terms—is still stirring up debate even though earlier attempts to get the Senate to vote on the measure failed.
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The National REO Brokers Association Inc. (NRBA) is preparing for its Seventh Annual REO Education Conference—an event which is held exclusively each year for members of the organization. This year’s attendees will enjoy three days of networking, educational sessions and industry-related discussions with 100 asset managers and leading lending and servicing clients in attendance.
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Massachusetts Attorney General Martha Coakley announced this week that embattled subprime lender Fremont Investment & Loan, a subsidiary of Fremont General Corp., will not be allowed to offload the servicing rights of troubled mortgage loans onto an interested buyer—unless that buyer is willing, in writing, to accept full responsibility for those loans.
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Weltman, Weinberg & Reis Co. announced this week that associate Gail Hersh Jr., who serves as part of the firm’s Real Estate Default Group, has been appointed vice chairman of the Real Property Law Committee of the Cincinnati Bar Association (CBA).
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Veros Real Estate Solutions is preparing to host the 8th Annual Predictive Methods Conference (PMC), which will take place at the Hotel del Coronado in San Diego on June 9-11.
The conference allows mortgage banking professionals to gather and discuss how technology can answer various analytical needs, while also covering the new solutions that have been developed to detect early risk and to respond to other industry needs.
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Recognizing that many families facing foreclosure do not have the financial resources to hire an attorney, Ohio state leaders rolled out a new legal initiative Tuesday that will help officials expand the Ohio Save the Dream campaign by adding a legal volunteer service to the state’s foreclosure prevention effort.
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U.S. Housing and Urban Development Secretary (HUD) Alphonso Jackson said today that he will be resigning from the agency, effective April 18, 2008, according to a press statement issued by HUD.
Jackson’s announcement comes after much speculation about his pending resignation and after two U.
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Washington, D.C.-based Lender Technologies Corp. (LTC)-a subsidiary of the Mortgage Bankers Association (MBA)-is now focusing on the need for the potential creation of a national database that will help the mortgage community detect fraud within individual loan portfolios.
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U.S. Treasury Secretary Henry Paulson Jr. officially announced his office’s plan to streamline the nation’s financial regulatory structure by creating new oversight in areas such as mortgage lending and by combining the efforts of existing agencies like the Office of Thrift Supervision (OTS) and the Office of the Comptroller of Currency (OCC), as well as the efforts and philosophies of the Securities and Exchange Commission (SEC) and the U.
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Methamphetamine addiction has become an epidemic in the United States. Regardless of numerous federal, state and county wide campaigns to stop meth use, the number of people becoming addicts rises every year.
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Parsippany, New Jersey-based Red Vision, a provider of real property research solutions, announced their recent partnership with New House Title, a Florida-based foreclosure service firm, to adapt Red Vision’s Title Vision solution to meet New House’s expanding business needs.
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Attorneys representing creditors can now help their servicing and lending clients with loss mitigation efforts, thanks to a recent Federal Trade Commission advisory opinion. The opinion specifically addresses issues raised by USFN, a national not-for-profit network of mortgage banking attorneys and trustee companies.
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Calabasas, California-based All Valley Trustee, a non-judicial foreclosure trustee that serves the mortgage loan servicing industry, has hired Michael S. Goldstein to serve in the role of executive vice president of marketing.
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Recognizing that electronic mortgage transactions continue to grow in the mortgage banking industry and are advantageous when it comes to streamlining the transaction process, MISMO, the data standard subsidiary of the Mortgage Bankers Association (MBA) and the Property Records Industry Association (PRIA) have published the Intellectual Property Rights Disclosure Draft of a Business Requirements Document.
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Illinois Governor Rod Blagojevich said Friday that a statewide program designed to help struggling homeowners is growing in scope and funding—especially with four additional lenders now signed on to contribute additional funding.
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Scott Burns, a popular personal finance and business writer out of Dallas, is recommending in an upcoming column that the U.S. government establish a regulator to oversee the rating practices of companies like Moody’s and Standard & Poor’s, according to a press release issued by Burns’ company, AssetBuilder.
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Brea, California-based Fremont General Corp., the parent-company of subprime lender Fremont Investment & Loan, has been issued a directive from the Federal Deposit Insurance Corp. (FDIC), saying the company has until May 26, 2008 to raise capital to stay in compliance with FDIC guidelines.
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IKB Deutsche Industriebank AG, a major German financial services platform and bank, is now facing irate shareholders who blame the company for financial losses because of lack of oversight in relation to the bank’s exposure to U.
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McLean, Virginia-based Freddie Mac says the 30-year fixed rate mortgage hovered at 5.85-percent for the week ending March 27, 2008, down from a week earlier when it hit 5.87-percent.
The same time last year the same fixed-rate mortgage was at 6.
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ForeclosuresMass.com, a provider of foreclosure data and analytics for the state of Massachusetts, announced this week that foreclosure filings in the state are expected to increase 15 to 25-percent this year—hovering above the historic records set last year.
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