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6 Mar 2013, 9:38 am by Rahul Bhagnari, ACLU
In historically segregated cities, it was easier for these lenders to pass these loans on minority borrowers—those who had no other choice because better credit had been historically denied. [read post]
4 Mar 2013, 12:38 am by Kevin LaCroix
  Background Until 2007, Impac Mortgage Holdings funded, sold and securitized residential mortgages. [read post]
19 Feb 2013, 7:02 am by Carlos A. Kelly
I last updated you on January 29, 2013, letting you know that the Homeownership Protection Program Joint Powers Authority — the entity created by San Bernardino County and the cities of Fontana, California and Ontario, California to study, develop, and carry out the underwater mortgage condemnation plan — had decided to abandon any further consideration of the use of eminent domain to acquire underwater mortgages. [read post]
12 Feb 2013, 11:31 am by Larry Tolchinsky
Across the country, there’s lots of positive feedback about Fannie Mae’s “HomePath for Short Sales” where any Fannie Mae-owned home loan can be escalated by the realtor – and once this happens, Fannie Mae people enter the transaction to work directly with the mortgage servicer as well as the realtor to get things resolved and the short sale closed. [read post]
12 Feb 2013, 11:02 am by Alan White
  The Supreme Court accepted cert. in a Minnesota case in 2011, but the City of St. [read post]
5 Feb 2013, 8:17 pm
Chad Arthur Anderson, 39, Chisago City, Minnesota, and Troy Allen Huston, 43, Chisago City, both mortgage loan officers, were sentenced for recruiting straw buyers to purchase properties at inflated prices and then distributing the excess loan funds among themselves, the straw buyers, and others involved in the scheme. [read post]
5 Feb 2013, 8:01 am
Consumer Protection Issues Under Reverse Annuity Mortgage Loans - 2013-R-0076You asked whether Connecticut law prohibits banks from requiring the older spouse to be the sole borrower on a Reverse Annuity Mortgage loan. [read post]
5 Feb 2013, 3:38 am by Legal Beagle
The generous agreement was struck at the height of the global financial crisis, when thousands of Scots were struggling to get mortgages and loans from the now taxpayer-backed bank. [read post]
25 Jan 2013, 9:39 am by Rick E. Rayl
For the better part of a year, we've been writing about the controversial proposal to use the power of eminent domain to condemn underwater mortgages, allowing homeowners to have a new loan that better reflects the underlying value of the property. [read post]
22 Jan 2013, 9:06 pm by Kevin LaCroix
Unable to sell the mortgages into the secondary market, the bank had to take the loans onto its own balance sheet, which cause the bank to suffer financial losses. [read post]
13 Jan 2013, 9:27 am by Bernie Burk
  For example, this recent quote from Paul Campos in Fortune:  “[I]t's like the subprime mortgage scandal without securitization. [read post]
3 Jan 2013, 12:28 am by Kevin LaCroix
With the addition of the December 17, 2012 filing of its lawsuit against the former CEO and six former directors of the failed Peoples First Community Bank of Panama City, Florida, the FDIC filed 25 failed bank D&O lawsuits during 2012 and a total of 43 altogether during the current wave of bank failures. [read post]
28 Dec 2012, 10:00 am by Clark
Question after question, the left wing libertarians are saying smart things in foolish ways – am I against welfare because it enslaves and belittles inner city blacks? [read post]
23 Dec 2012, 6:46 am by Rich Vetstein
 The new law requires that lenders offer loan modifications on certain mortgage loans before foreclosing. [read post]
30 Nov 2012, 3:32 am by Mandelman
 Zoom in on it to read it closely, but if you don’t have your glasses, the blue bars are underwater homes by city, and the red bars are delinquent underwater homes by city. [read post]
18 Nov 2012, 4:24 pm by Mandelman
  It’s amazing the man can tie his own shoes and make it to work every day without causing harm to the City of Chicago. [read post]
15 Nov 2012, 2:53 am by Mandelman
  In Spain, lending to homeowners was far more prudent, so the story goes, and as a result, Spanish banks are not being left holding large amounts of bad loans as the country’s residential mortgages increasingly go into default. [read post]
10 Nov 2012, 10:00 am
A few months later, the mayor told the dispensary owner he would been to be paid a "minimum" of the payment he makes on his mortgage, which at the time was $1,600 a month. [read post]