 Los Angeles Times |
Holder Announces Working Unit on Mortgage-Backed Bonds Fraud
BusinessWeek 27 (Bloomberg) — A new US government unit will investigate misconduct in the bundling of mortgage loans into securities that fueled the housing bubble and contributed to the financial crisis, Attorney General Eric Holder said. Hope for Mortgage Probe Mortgage probe unveiled as foreclosure talks loom Justice Department Unit Issues Subpoenas in Mortgage Fraud Inquiry |
Holder Announces Working Unit on Mortgage-Backed Bonds Fraud – BusinessWeek
January 28th, 2012
BofA, Chase Each Could Lose Over $60 mil in HAMP Incentives
January 27th, 2012More than $ 100 million in payments due to JPMorgan Chase & Co. and Bank of America Corp. for modifications completed under the Home Affordable Modification Program could be withheld — possibly permanently.
The government claims that it held up HAMP incentive payments to the two mortgage servicers because they haven’t complied with HAMP guidelines.
Both BofA and Chase each stand to lose more than $ 60 million in HAMP incentives if the withholding becomes permanent.
MortgageDaily.com – Mortgage News Headlines
Rates Increase But Might Retreat
January 27th, 2012The average 30-year fixed-rate mortgage this week climbed 10 basis points from the previous week.
A 7-basis-point elevation was recorded for the average 15-year mortgage.
But rates could see-saw and wind up around 10 BPS lower in next week’s report based on an analysis of data from the Department of the Treasury.
MortgageDaily.com – Mortgage News Headlines
Mortgages below 4% for 8th straight week – OCRegister
January 27th, 2012|
Mortgages below 4% for 8th straight week
OCRegister If you can knock down the rental rate on your mortgage, and it costs you nothing (as in no-cost) but a few hours of your time, it's worth doing. When it comes to purchasing, I remember a very smart appraiser in the early 1990's that bought up cheap … |
Condo Communities Grapple With FHA Certification
January 26th, 2012During the past three months, more than a third of condominium communities that were submitted for certification to the Federal Housing Administration have been rejected.
This issue has become more significant because FHA stopped providing unit-by-unit approval in early 2010.
While some condominium communities have decided that it’s not worth seeking FHA certification, others know that many home buyers won’t even consider a unit if FHA financing isn’t available.
MortgageDaily.com – Mortgage News Headlines