If you were to ask Karey Brown with Re/Max Associates in Topeka, Kansas, how to describe the process of dealing with REO properties, she would tell you to remember that It takes all kinds in her line of work.
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A sweeping subprime lending reform bill that requires lenders to qualify borrowers for their ability to pay over the life of a loan, rather than at teaser rates, passed the California State Assembly this week.
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%{=FONT-SIZE: 8.5pt}Kansas City, Missouri-based law firm Martin, Leigh, Laws & Fritzlen, P.C., announced the appointment of four new attorneys this week.
The firm, which represents creditors and focuses on bankruptcy and foreclosures, recently hired attorneys James Fletcher, Jr.
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Minnesota Governor Tim Pawlenty vetoed a bill this week that would have granted eligible homeowners a one-year deferral on any home foreclosure in which the borrower could show a lender failed to produce good-faith negotiations to save a home.
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The HOPE NOW Alliance national coalition of mortgage servicers, counselors and mortgage industry experts working to aid struggling homeowners—said Friday that in April alone, the agency assisted 183,000 homeowners through effective loan workout solutions.
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With JPMorgan’s acquisition of embattled investment bank Bear Stearns close to complete, Dallas-based Lone Star Funds confirming that the private equity firm has agreed to absorb portions of Bear Stearns Residential Mortgage Corp.
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A bill proposing the creation of a financial clearinghouse that will provide California citizens with critical information about credit scores, interest rates, responsible borrowing and overall financial literacy has passed the State Assembly and is now heading to the State Senate.
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Speculation that the Federal Reserve will raise short-term interest rates in the near future caused mortgage interest rates to jump this week.
McLean, Virginia-based Freddie Mac officially released its Primary Mortgage Market Survey (PMMS) on Thursday, which shows the 30-year fixed-rate mortgage (FRM) hovering at 6.
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Chicago, Illinois-based Artemis Enterprises, LLC, a company that provides collaborative cross-enterprise information management technology solutions, said Thursday that it has entered into a strategic business relationship with Innovative Relevance platform that constructs custom solutions for its strategic partners.
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Culver City, California-based ValuFinders, Inc., is promoting the flexibility of its Web-based Appraisal CONCIERGE appraisal ordering system in light of recent discussions about the Office of Federal Housing Enterprise Oversight (OFHEO) and the government-sponsored enterprises (GSEs) adopting a new appraisal code of conduct.
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The Massachusetts foreclosure crisis shows no signs of abating with a new report from real estate publisher The Warren Group concluding that foreclosure deeds hit their highest level in recorded history last month.
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The season of change continues at Bank of America) with the banking giant announcing Thursday that David Sambol, president and chief operating officer of Countrywide Financial Corp., will be retiring after Barbara Desoer, BofA’s chief technology and operations officer, successfully transitions into the role of president of consumer real estate operations once the two companies are combined.
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Higher provisions for loan losses placed additional stress on banks insured by the Federal Deposit Insurance Corporation (FDIC) during the first quarter of this year, according to a new report from the FDIC.
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Bensalem, Pennsylvania-based ISGN, a company that offers the mortgage banking industry an assortment of technology solutions, said Wednesday that UK-based GMAC-RFC Property Finance Limited has agreed to utilize the company’s Construction Lender (TCL) software system to streamline the creation and management of loans and reduce risk.
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The Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey—a measure of loan origination activity—shows a drop in mortgage application volume for the week ending May 23, 2008.
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First American National Claims Outsourcing, a division of The First American Corp., said Wednesday that it aims to achieve peak levels when it comes to internal training and business processes by entering into an alliance with consultant Lyons McCloskey.
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U.S. Treasury Under Secretary for Domestic Finance Robert Steel believes access to financial literacy tools may have helped many Americans avoid foreclosure, according to testimony he gave in front of the President’s Advisory Council on Financial Literacy Subcommittee on the Underserved.
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The idea that companies or law firms would turn to legal outsourcing providers for help during busy season seems foreign to many. But Abhi Shah, chief executive officer of legal services provider the Clutch Group, says the subprime crisis is shining a new light on the outsourcing of legal services.
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Credit rating agencies (CRAs) will be adhering to a new Code of Conduct in the near future because of a new report from the International Organization of Securities Commissions, which was created to give credit rating agencies new guidelines to follow when evaluating structured finance products.
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Parsippany, New Jersey-based Red Vision Systems, Inc., a company that provides property research and technology solutions, recently announced the availability of an electronic plant that will provide the entire state of Maryland with easy to access title search options and courthouse records.
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