House Panel Agrees on Countrywide Subpoenas Oct 24, 2009
In a statement posted earlier Friday on the committee s Web site, Towns said the panel would subpoena records from Countrywide s VIP loans, now owned by Bank of America, as part of an investigation that will focus on deceptive and predatory lending practices, as well as whether mortgage companies deployed improper tactics to thwart regulation. The New York lawmaker s announcement came amid partisan tensions over Issa s demand to subpoena Countrywide, including an incident this week in which... (Roll Call)
BB&T to keep Colonial mortgage unit Oct 24, 2009
BB&T (NYSE:BBT) has named Jeff Ellison president of its new lending division that provides short-term financing to mortgage companies. Ellison most recently was a senior credit officer in BB&T s Orlando-based East Florida region. (Charlotte Business Journal, NC)
Foreclosures Up 5% from Summer to Fall Oct 23, 2009
Mortgage companies sometimes allow unemployed homeowners to defer three to six months of payments while they are looking for a job ... Mortgage companies have slowed down the pace of foreclosures as they evaluate whether borrowers qualify for the administration's program. (CBS News -- US)
Politics of Envy Oct 23, 2009
Same with the banks, insurance companies, mortgage companies. there is NO SUCH THING AS "TOO BIG TO LET FAIL" - the entire country would be better off right now if AIG and the rest of these shysters went belly up - and we wouldn't be talking about limiting executive pay right now. (Townhall.com)
27 Fresno-area contractors cited Oct 23, 2009
Because mortgage companies require homeowners to insure their properties, they are then at risk of. A two-day crackdown on unlicensed contractors operating in the Fresno area netted 27 citations, most of them for doing contracting work without a license, officials said Thursday. (Fresno Bee -- Local)
New NH federal prosecutor to focus on money crimes Oct 22, 2009
He said he expects to prosecute crimes ranging from small-time criminals preying upon people looking for help avoiding home foreclosure to crimes involving established mortgage companies. Kacavas said he also will continue the office's traditional mission of prosecuting crimes involving guns, drugs, gangs and child pornography. (Concord Monitor)
Human Space Flight Review Committee Report Press Conference Oct 22, 2009
" For committee information, materials, presentations and biographies, visit: The press conference will be broadcast on NASA Television's Media Channel and streamed on the agency's Web site at: For information about NASA and agency activities, visit: Date: Thursday, October 22, 2009Location: National Press Club, 529 14th St. NW, Washington, DC, USWeb Site Address: Porters Tahoe is the premier online dealer for Skis and , visit PortersTahoe.com! Bingo world tour - The most comprehensive guide to... (NASA Watch)
Insurers dropping Chinese drywall policies Oct 21, 2009
Because mortgage companies require homeowners to insure their properties, they are then at risk of foreclosure, yet no law prevents the cancellations. "This is like the small wave that's out on the horizon that's going to continue to grow and grow until it becomes a tsunami," said Florida attorney David Durkee, who represents hundreds of homeowners who are suing builders, suppliers and manufacturers over the drywall. (WSVN-TV Miami, FL)
New Gov't Plan Aims to Help Poor Borrowers Oct 20, 2009
A better question for you to ask is why would banks and mortgage companies keep loaning and underwriting loans to people when THEY knew those people could not afford those loans. I hope you are not a "twister," one who professes to believe that the government twisted their arms. (CBS News)
Government unveils new mortgage help for states Oct 20, 2009
Find Mortgage Companies, Brokers And Agents Serving Charlotte. Save Your Home With A Loan Modification. (Yahoo News -- Technology)
It's official: 2009 deficit hit record $1.4 trillion Oct 17, 2009
"Treasury Secretary Timothy Geithner noted that the deficit did come in lower than the $1.8 trillion deficit projected earlier this year by the White House. The final deficit was lower "in part because we are managing to repair the financial system at a lower cost to taxpayers," Geithner said. But the smaller deficit number was also partly due to the administration and Congress's decision not to ask for more bailout money and to the decision to leave out some of the costs associated with the... (TheHill.com)
The writing is on the drywall Oct 16, 2009
Because mortgage companies require homeowners to insure their properties, they are then at risk of foreclosure, yet no law prevents the cancellations. advertisement. (MSNBC -- Business)
AP News in Brief Oct 15, 2009
Mortgage companies sometimes allow unemployed homeowners to defer three to six months of payments while they are looking for a job. But there's little else they can do. (Atlanta Journal-Constitution -- World)
LPS tool to help value properties Oct 13, 2009
has launched a new model to help mortgage companies determine and verify property values for loans ... The program will help mortgage companies determine property values for underwriting, quality control and due diligence through its public records database as well as its own modeling and analytical resources, the company stated. (Jacksonville Business Journal, FL)
President Obama invites Coakley to White House Oct 10, 2009
Coakley said the four were among a group of prosecutors who cracked down on investment banks and mortgage companies that she said had contributed to the financial crisis. We re in the lead in Massachusetts, with suits like Fremont and our settlement with Goldman Sachs, Coakley said in a phone interview, referring to two recent cases. (Boston Globe)
HIGHER RATES Oct 10, 2009
Because many property owners in high-risk areas are required to carry flood insurance by mortgage companies, there were less claims filed with FEMA after last year s hurricanes, said state Sen. Troy Hebert, D-Jeanerette, who is also the Chairman of the Senate Insurance Committee. (New Iberia, LA)
Fannie, Freddie Plan to Aid Mortgage Banks: Report Oct 7, 2009
The Journal's sources added that the companies are planning to build on an undisclosed pilot program that Freddie has with Provident Funding Associates LP and warehouse-lender NattyMac, where short-term funding would be provided to mortgage companies. Spokesmen for Fannie and Freddie declined to discuss details of the plan with the paper. (ABC News -- Wire)
Christopher Dodd A Bad Guy In Michael Moore's Latest Film Oct 3, 2009
Moore's cast of scoundrels includes big corporations that have taken out life insurance policies on their workers, big banks that received government bailouts and big mortgage companies that specialized in predatory loans. And Chris Dodd. (FOX61, CT)
U.S. Treasury Set to Finalize Home "Short Sales" Plan Oct 3, 2009
NEW YORK (Reuters) - The U.S. Treasury will soon finalize a plan to expand its incentives for mortgage companies to include "short sales" as a way to stem a rising tide of foreclosures, according to a Treasury spokeswoman. "Short sales," or sales of homes for less than the balance on existing mortgages, are seen as a key way to supplement other efforts such as loan modifications to steady housing. (ABC News -- Wire)
Powerful women line up for Coakley Sep 30, 2009
Well, she wasn t cautious when she went after the mortgage companies and the banks. Murray continued, If the word wasn t cautious, it would be. (Boston Globe)
Overdraft fees, loan practices targeted Sep 30, 2009
The Massachusetts Mortgage Association, which represents mortgage companies, did not respond to a request seeking comment. Todd Wallack can be reached at. (Boston Globe)
Foreclosure-mediation laws not much help Sep 25, 2009
(09-23) 19:06 PDT -- Laws in California and other states requiring mortgage companies to talk to troubled homeowners before foreclosing on them are toothless, according to a study released Wednesday. Images. (San Francisco Chronicle)
Holbrook steps up unpaid tax collection efforts Sep 24, 2009
The policy allows Haley to notify all banks, mortgage companies, and realty firms of delinquent tax payments. He said that there is a state statute that allows municipalities to go after the mortgage lenders of tax delinquents. (Holbrook Sun, MA)
Loan-mod laws no help Sep 24, 2009
(09-23) 19:06 PDT -- Laws in California and other states requiring mortgage companies to talk to troubled homeowners before foreclosing on them are toothless, according to a study released Wednesday ... Foreclosure-mediation laws not much help Articles Laws in California and other states requiring mortgage companies to talk to troubled homeowners before foreclosing on them are toothless, according to a study released Wednesday. (San Francisco Chronicle -- Business)
Retailers, Non-Finance Firms Exempt From Obama Consumer Agency, Frank Says Sep 23, 2009
The Fed and regulators that oversee credit-card and mortgage companies would cede their consumer-protection powers to the agency. Frank, who is leading efforts in the House to translate Obamas regulatory reform plan into legislation, has a hearing on the agency proposal on Sept. 30. (Bloomberg)
Things You Dont Know Sep 23, 2009
Willie you would think the mortgage companies would do a better job of determining which properties are in flood zones. It s to their advantage to make sure there is proper coverage. (Atlanta Journal-Constitution -- Living)
Economy thwarts revival of Marlborough's French Hill neighborhood Sep 22, 2009
" Wilderman has stepped up her efforts to make sure that vacant foreclosed homes are maintained so they don't become eyesores. "Because of a new bylaw passed by City Council, mortgage companies are now required to notify the city when a property is foreclosed, and to assign a maintenance person who lives close by," she said. Neighborhood Association members say French Hill is still home to some of the city's worst-looking properties. "We went through a process to get the lawn mowed at the... (Marlborough Enterprise, MA)
United Kingdom Sep 20, 2009
House sales are up, but one in 10 is falling through as mortgage companies find nits to pick in mortgage applications. Asking prices continue to drop. (Pittsburgh Post-Gazette, PA)
Brockton is rocked asits ballclub founders Sep 19, 2009
Advertisements from banks, mortgage companies, and real estate firms filled the outfield wall, and businessmen and birthday celebrants packed into luxury boxes. But while revenue rose, expenses rose faster, and owners soon faced a steep operating deficit. (Boston Globe)
FHA faces cash squeeze, commissioner says Sep 19, 2009
It would be, however, far smaller than the $96 billion that mortgage companies Fannie Mae and Freddie Mac have tapped since they were seized by federal regulators a year ago, he said. In an effort to weed out shady operators, the FHA will require lenders to have net worth of $1 million, up from the current requirement of $250,000, and undergo annual audits. (MSNBC -- Business)
Foreclosures hit new record in metro Atlanta Sep 17, 2009
Part of the problem is the lie that the mortgage companies want to help ... That s when the mortgage companies call and want to work things out after they now know that the 15% (example)was killing you and they are about to get the house back ... That would have stopped this problem but the mortgage companies still want to squeeze every bit they can along with getting bail out money that tax payers who are in foreclosure are or will pay. (Atlanta Journal-Constitution -- Business)
Lehman collapse: The biggest stimulus greed's back Sep 14, 2009
On September 7, the worlds two biggest mortgage companies, Fannie Mae and Freddie Mac, could not meet their obligations and were taken over by the US government. But the price of mortgage-backed securities and credit default swaps continued to plummet. (India Times, India)
Massachusetts regulators took punitive action against few brokers and lenders Sep 14, 2009
Maybe the Division of Banks wasn t nimble enough to switch and pull resources from the banking, the credit union world, and say, Our major concern has got to be the mortgage companies, Callahan said. The Chelsea firm Your Home Mortgage was the subject of two complaints to the Division of Banks in 2007 that resulted in no formal action. (Boston Globe)
Why did McCabe and Corfman schools not show the president’s speech to its students? I was disappointed that my children did not get to listen to this great motivational talk by the president of the United States. The rest of the county schools did not have a problem showing it. It was very simple to access this speech on the Web or on TV without needing a cable line. I truly hope that politics did not play a role in the decision by the administration to not show their students this exceptional learning experience. I am sure that a little effort by the school would have been welcome by many parents and students. — McCabe Parent, El Centro'>What is the reason why McCabe and Corfman schools did not show the president’s speech to its students? Sep 13, 2009
Um, still thinking, oh yeah the tax payers own car manufactures, mortgage companies, banks, etc. In the last 25 years or so ALL of the politicians in Washington and California have s*cked and none of them care one bit about all of us tax payers. (El Centro Imperial Valley Press, CA)
Presidents speech ripe for squabble among partisans Sep 13, 2009
Lisnup wrote on Sep 12, 2009 6:43 PM:" Let shave the Democrat's head to Texas and start protesting Bush the warmonger. Bush ruined America, brought her to her knees and bailed. I truly believe Bush knew exactly what a financial crisis Obama would face. Bush needs to be accountable, his spending doomed our banks, industry, mortgage companies. Bush ran up credit we didn't have, now Americans have to pay. Do you honestly think if we kicked all Americans out of their homes, failed the vehicle... (Wasilla Frontiersman, AK)
Ill. foreclosure activity up 22% in August Sep 11, 2009
Mortgage companies are ramping up efforts to help troubled borrowers modify their loan payments to make them more affordable, data Wednesday showed. And RealtyTrac said bank repossessions dropped 13 percent from July. (Crain's Chicago Business)
Under Fire, Foreclosure Aid Plan Heats Up Sep 10, 2009
Treasury says 48 mortgage companies are now involved in the program, up from 38 in July ... The program is voluntary, relying on subsidies to encourage mortgage companies to participate. (CBS News)
Interfaith marks 25 years of service Sep 10, 2009
The group provides emergency rental and mortgage assistance, as well as advocacy and mediation with landlords and mortgage companies. Folks in need find Interfaith through referrals from churches, other social service agencies and word of mouth through the homeless population. (Casper Star-Tribune, WY)
The United States is in big trouble Sep 7, 2009
Our mortgage companies are foreclosing on our homes, and the government will reimburse them for their loss. The government has declared our 4- to 5-year-old cars clunkers and offered the car industry another bailout in the incentive-to-buy program, which we are paying for. (Fredericksburg.com, VA)
'Certifying' local levees could be costly endeavor Sep 7, 2009
Flood insurance rates would zoom up, and mortgage companies likely would require homeowners to buy it, Stone said. By designating securely diked communities as flood plains, the maps could scare away business and residential development even though the flood threat largely would be on paper. (Longview Daily News, WA)
Mortgage Giants Struggle a Year After Takeover Sep 6, 2009
A year after the collapse of the mortgage companies Fannie Mae and Freddie Mac, Americans remain almost entirely dependent on the government to keep them and the housing market alive. (AP Photo/Susan Walsh, file) (AP). (ABC News -- Wire)
Main Street U.S.A.: Trials and the Celebrity-in-Chief Sep 6, 2009
I believe he is the one that enjoys fondling women and messing around with mortgage companies, isn't he. Speaking of a national embarrassment. (Townhall.com)
Nats all there is on Big Brother Sep 5, 2009
While I feel her pain, Jordan is the best press that mortgage companies trying to use the ''caveat emptor'' excuse could ask for. One unrelated side note about this fruit argument: Through it all, Michele was off to the side, preparing something called ''Muscle Milk. (MSNBC -- News)
Mortgage firm aims high, scores Sep 5, 2009
Mortgage companies that are still around and have a good name and the right kind of setup really should have had a good year, Ricketts says. Mortgage Investors Group hit its goal despite the corporate office in Knoxville not officially starting the clock on its Memphis office until January, Brown says. (Memphis Business Journal, TN)
Finding affordability: Recessions deals setback to local plans Sep 4, 2009
Before the financial crisis last year, banks and mortgage companies, particularly Fannie Mae and Freddie Mac, were the biggest buyers of credits. But now these companies are losing billions, and therefore have no need for the credits. (Hanford Sentinal, CA)
Post offices in West Palm Beach, Lantana, Boca Raton still set to close, U.S. Postal Service says Sep 3, 2009
Also, getting mail only two or three times a week may be acceptable for some, but unless businesses such as banks, mortgage companies and credit card companies give more time between billing dates and due dates, everyday delivery is still needed. The USPS is indeed suffering, but cutting out offices will simply make it more inconvenient for customers and make them more likely to use alternative methods. (The Palm Beach Post)
Galt City Council looks to clean up foreclosed homes Sep 3, 2009
Councilman Donald Haines confirmed that staff will still try to collect by putting notices on the door because banks and mortgage companies usually send people out to inspect the properties. "At some point in time it should come to their attention," Haines said. (Lodi News Sentinel, CA)
Economic development hampered by housing (261) Sep 3, 2009
pinelodge wrote on Sep 2, 2009 9:44 AM:" Well, it was easy to answer my own question. A very quick look at the investors in the EDC shows that while there are only 2 retail members (one being Phillip Manor), 3 manufacturing (2 of which were already here before the EDC was formed), 7 banking (which includes 3 mortgage companies) and 1 medical, there are 18 members in real estate- not including homebuilding (1), construction (1), engineering (4) and land development (3- including Esperanza).Most... (Boerne Star, TX)
Home foreclosures continue to mount Sep 2, 2009
We need to encourage these mortgage companies to foreclose their properties faster because the sooner we can flush the proverbial foreclosure toilet the faster the market will settle and prices will increase again. Jesse Jackson disgusts me as usual. (Atlanta Journal-Constitution -- Business)
A question for Sierra Vista conservatives Sep 2, 2009
TO Jacqueline OConnor wrote on Sep 1, 2009 10:12 AM:" The Private sector brought us the housing melt down? What do you think the community re-investment act did? It forced, (yes I said "forced") mortgage companies to loan to people they KNEW couldn't pay it off (in the name of diversity) or else they wouldn't be allowed to expand or several other things that require government approval. No matter how much you point to the private sector "greed" it pales in comparison to the payoffs given by this... (Sierra Vista Herald, AZ)
Civil GV crowd peppers Giffords with questions Sep 2, 2009
Cynthia Rose of Tubac and Tucson, who said her husband is a military consultant, said, When government takes control of banks, mortgage companies, car makers and, now, health care, we lose our freedoms, generating big applause and some whoops. Giffords said the government support of the auto industry is necessary in case we need to build tanks, for example, for a future war. (Green Valley News & Sun, AZ)
Bond Market Rejects Bernanke Recovery as 10% Jobless Rate Buoys Two-Years Sep 1, 2009
Bank of government securities and debt of mortgage companies in Washington and McLean, Virginia-based increased to a record $1. 37 trillion in the week ended Aug. 12, from $1. (Bloomberg)
Recovery? Bond traders eye 10% unemployment Aug 31, 2009
Bank holdings of government securities and debt of mortgage companies Fannie Mae in Washington and McLean, Virginia-based Freddie Mac increased to a record $US1. 37 trillion in the week ended August 12, from $US1. (Sydney Morning Herald -- Business)
8 big banks that repaid bailouts turning a profit Aug 31, 2009
These early returns are by no means a full accounting of the huge financial rescue undertaken by the federal government, which still faces potentially huge long-term losses from its bailouts of the insurance giant , the mortgage companies and , and the automakers and Chrysler. The Treasury Department could also take a hit from its guarantees on billions of dollars of so-called toxic mortgages. (Boston Globe)
Eric Holder's Hidden Agenda Aug 29, 2009
" Finally, the international and/or foreign courts will file criminal charges against American officials. Foreign charges would result in the issuance of international arrest warrants. They won't be executed in the United States - even this administration is probably not brazen enough to try that. But the warrants will go out to police agencies all over the world. If the indicted American officials want to travel outside the U.S., they will need to worry about the possibility of arrest,... (CBS News)
Positive trends Aug 27, 2009
Wednesday, August 26, 2009 11:51 PM PDT It is taking Klamath Basin mortgage companies more effort to get loans approved for their customers, but the loans they provide are safer and more secure than before, brokers say. Curt Sorg, Klamath River Mortgage owner and lending specialist, said he is spending more time researching and documenting the credit and income of clients applying for home loans. (Klamath Falls Herald & News, OR)
Treasuries Advance Before Report That May Show GDP Shrank at Faster Pace Aug 27, 2009
Bank of government securities and debt of mortgage companies in Washington and McLean, Virginia-based increased to $1. 37 trillion in the week ended Aug. 12, the most since the Federal Reserve began tracking the number in 1990. (Bloomberg -- US)
How to Sell Your House Fast and Pro... Aug 26, 2009
Note that a loan broker is far more likely to find an attractive loan for a buyer than most mortgage companies or banks are. Incentives. (Suite101.com)
Timeline of Key Moments During Bernanke's Tenure Aug 26, 2009
Aug. 31, 2007: As mortgage companies fail, credit markets freeze up and the stock market lurches, Bernanke acknowledges the subprime crisis has "potential consequences for the performance of the overall economy." The Fed already has pumped $100 billion into the financial system, but Bernanke says it won't bail out banks affected by the crisis. It's not the Fed's responsibility "to protect lenders and investors from the consequences of their decisions," he says. (ABC News -- Business)
Broker sentenced for real estate conspiracy Aug 25, 2009
By purchasing and then selling dozens of houses at inflated values -- with the help of a crooked appraiser -- the alleged conspirators created at least 20 foreclosures and defrauded 13 banks and mortgage companies of roughly $1 ... The inflated price was justified to the mortgage companies by appraiser Charles Carlson, a conspirator. (Anchorage Daily News)
Final defendant sentenced in Alaska mortgage fraud Aug 25, 2009
According to prosecutors, the conspirators created at least 20 foreclosures and defrauded 13 banks and mortgage companies of roughly $1. 7 million. (Juneau Empire)
No humor in Medicare statement Aug 24, 2009
Nowhere does the Constitution give Congress the right to nationalize car companies, banks, mortgage companies or dictate to private companies what they pay their employees. The arrogance of these representatives and senators to ignore the document that established this country and made it the greatest place to live in the world is reprehensible. (Longview Daily News, WA)
Homeowners fight for loan modifications from swamped mortgage servicers Aug 23, 2009
A report released this month by the Treasury Department showed wide variations in how quickly mortgage companies are helping troubled homeowners avoid foreclosures ... "Much more progress is needed," Treasury Secretary Timothy Geithner and Shaun Donovan, secretary for Housing and Urban Development, wrote in a letter to mortgage companies. (Republican-American)
CREDIT COUNSELORS SEEING MORE HOMEOWNERS FACING FORECLOSURE Aug 23, 2009
Two Housing and Urban Development approved counseling agencies in Pine Bluff, Family Service Agency s Consumer Credit Counseling Service and Southern Good Faith Fund, are helping more and more people negotiate with mortgage companies ... But while counselors can act as an intermediary to negotiate with mortgage companies and help prepare the mountain of paperwork that is necessary to complete the steps the lenders have the final say. (Pine Bluff Commercial, AR)
Is the tax bill paid on your land, home? Aug 22, 2009
A majority of property taxes are paid by mortgage companies, but only a few of the late notices are for mortgage companies. Some are people who have refinanced and now it is their responsibility to pay them, but have just forgotten, Brazelton said. (Gillette News-Record, WY)
