Bank of America announced it has begun mailing letters to the first wave of up to 200,000 homeowners who are eligible for …
loan modification
Is Fannie and Freddie Honcho Ed DeMarco “America’s Most Dangerous Man?”
Ed DeMarco, acting head of the Federal Housing Finance Agency (FHFA), doesn’t have the look of a comic-book super-villain, but if you listen to some of the barbs his critics hurl at him, DeMarco is more dastardly than The Joker …
What the Government Could Still Do to Help Housing
Earlier this month, President Obama announced tweaks to the Home Affordable Refinance Program (or HARP), which was designed to help homeowners refinance underwater homes but so far had helped only 838,000 of the 5 million …
The Not-So-Bright Spot in the Gloomy Housing Report
No more need to wait for the double dip in housing. It appears to be here. Earlier today, the National Association of Realtors announced housing market figures for July and the numbers were not nice indeed. Sales of existing homes fell 27% in July from the month before. July was the slowest pace for single family house sales since May of …
Citi thanks the feds for knocking heads
There was a nice moment in today’s House hearing on reasons lenders aren’t more readily reducing principal as a part of loan modifications (despite evidence that principal reduction has the most shot of keeping homeowners current on their mortgage payments). CitiMortgage CEO Sanjiv Das basically thanked the government for inserting …
