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September 3, 2010
HAMP Hobbles Behind Private Modification Programs
The federal government's Home Affordable Modification Program has a lot of work left to do if it hopes to catch up to the private sector.

September 1, 2010
Bad year for foreclosures
It's a year that's seen the notable Lone Star Brewery and the St. Anthony Hotel posted for foreclosure.

August 30, 2010
Commercial Real Estate Failures are Easier to Spot
Apartments were emptied of tenants at least 2 ½ years ago to make way for new rental units and retail, but that never happened. Now a bank owns the 13 acres.

August 25, 2010
Cleaning Up the Mortgage Mess
Obama's program to help homeowners has unfortunately made things worse.

August 25, 2010
Snowmass Bankruptcy Crystallizes Hypo's U.S. Property Woes
Snowmass Village, the Colorado ski town neighboring Aspen, got a lift in 2007 when Hypo Real Estate Holding AG agreed to arrange $520 million of loans to complete a $1 billion year-round resort.

August 23, 2010
JP Morgan Preps New $484 Million CMBS
JP Morgan is readying a new $484.6 million CMBS pass-through.

August 20, 2010
Commercial Real Estate Hit with 41% Price Drop, Soaring Delinquencies
In one year, commercial real estate has seen both a drop in prices and a doubling up in delinquency rates, research analytics firms tracking the market find.

August 20, 2010
Fitch U.S. CMBS Newsletter: 43% of Maturing September Loans in Special Servicing
September brings 126 U.S. CMBS loans to maturity, with almost half of them already in special servicing, according to Fitch Ratings in its latest weekly U.S. CMBS newsletter.

August 18, 2010
Fair Lending Group Says High-Cost Loans Hit Minorities Exceptionally
More than half of foreclosures in California are on properties purchased by blacks and Latinos -- borrowers who are disproportionately more likely to receive expensive subprime loans that are harder to pay off.

August 16, 2010
Homebuilder Confidence Drops
Homebuilders' confidence slumped nationwide for a third month in a row in August, as Inland Empire builders pushed hard for lower building fees and homebuyers looked to a glut of foreclosed homes on the market.

August 13, 2010
Foreclosed On—By the U.S.
The Federal Reserve Bank of New York is facing the prospect of foreclosing on a number of properties in the coming months, from homes to commercial buildings, a result of a souring mortgage portfolio it took over when it helped bail out Bear Stearns in 2008.

August 11, 2010
Specially Serviced U.S. CMBS Loans Nearing $100B
Though U.S. CMBS loan transfers out of special servicing are taking place with more frequency, they will not be enough to stop specially serviced loans from passing the $100 billion mark before the year is out, according to Fitch Ratings in a new report.

August 11, 2010
Why You Should Worry About Government Mortgage Modifications
The re-default rate on modifications done through the government's HAMP mortgage modification program remains elusive. But a recent analysis from Laurie Goodman from Amherst Securities suggests that it could be worse than the re-default rate of other non-government modification programs that appear comparable.

August 5, 2010
Treasury Awards Second Round of Housing Funds
The Department of the Treasury has announced the second round of awards under its 4HM or Help for the Hardest-Hit Housing Market Fund established by President Obama in February.

August 2, 2010
Commercial mortgage-backed loan delinquencies increase
More than one-quarter of all multifamily loans in Jacksonville financed with commercial mortgage-backed securities are 60 days or more delinquent, according to the commercial real estate information provider Trepp LLC.

August 2, 2010
2010 CMBS Modifications Outnumber the Last 2 Years Combined
As delinquency increases begin to slow, modifications on CMBS loans are accelerating, according to the analytics firm, Trepp.

August 2, 2010
DBRS Hacks Ratings on 231 Non-Prime RMBS Deals
Independent rating agency DBRS downgraded certain classes within 231 residential mortgage-backed securities (RMBS) deals.

August 1, 2010
CMBS Loan Defaults Hit 9.5%
Fitch Ratings says 9.48% of the fixed-rate conduit CMBS loans in its universe were in default at the end of Q2.

August 1, 2010
Programs Fail to Keep Homes out of Foreclosure
More than three years into the housing crisis that helped trigger a worldwide recession, the torrid pace of home foreclosures continues to tear at the core of the American dream.

August 1, 2010
Foreclosure Activity Rises in most Major Areas
Foreclosure activity climbed in three-quarters of the largest U.S. metropolitan areas in the first half of 2010, compared with the same period a year ago, but declined in some of the nation's hardest-hit regions.

July 29, 2010
Economic recovery is still uneven survey shows
The pace of the nation's economic activity generally slowed or, in some regions, held steady - revealing a choppy path back to health.

July 28, 2010
The Fastest Increase in Foreclosure Rates go to Fannie and Freddie
We learned that the number of homes with mortgages owned by government sponsored entities (GSEs) Fannie Mae and Freddie Mac entering foreclosure is at an all-time high, and is still increasing.

July 25, 2010
Mortgage Relief from the Feds: An idea that went south
With much fanfare and ceremonial pomp, it was announced some time back that the government was coming to the rescue of the thousands of citizens who obtained mortgages they could never hope to repay.

July 22, 2010
Don't Bank on a 'Turnaround' with Financial Reform
Congress passed the most sweeping financial regulation legislation since the Great Depression, but most turnaround professionals surveyed predict the effort to rein in financial institutions will have little effect because most will find ways to skirt the new rules.

July 8, 2010
Commercial Mortgage Backed Security Delinquency Rate Rising
Industry analysts forecast that delinquency rates on commercial backed mortgage securities (CBMS) could reach as high as double digits by the end of 2010. With CBMS delinquency rates rising, analysts believe that bank failure rates could also increase. See the following article from HousingWire for more on this.

July 7, 2010
More Than 12 Percent of Mortgages Nationwide Delinquent or in Foreclosure
More than 12 percent of mortgages are delinquent or in foreclosure.

June 7, 2010
“HAMP program is dying,”
A major effort by the Obama administration to keep homeowners out of foreclosure may be reaching its limits long before the crisis abates.

May 19, 2010
Canceled HAMP Trials Jump 80% in April
As of the end of April 2010, servicers participating in the Home Affordable Modification Program (HAMP) had canceled 277,640 three-month trials since the program launched in March 2009...

May 14, 2010
In the War on Credit Scores, FICO Loses a Battle
The use of credit scoring is vital to the mortgage underwriting process. However, behind the scenes, a war is raging over who can lay claim to that process, with one party recently losing ground in the courtroom. The Fair Isaac Corp. (FICO: 23.46 0.00%) was denied a new trial regarding what it claims is clearly its...

May 4, 2010
PMI Sees Risk of House Price Decline Shrink Across US
Risk of continued price declines by the PMI Mortgage Insurance Co...

May 4, 2010
Commercial Mortgage Delinquency Soars to Historic High
The delinquency rate among commercial mortgage-backed securities (CMBS) topped 8% to yet another historical high in April, according to the latest data from analytics firm Trepp.

April 28, 2010
More Mid-Size Banks Facing Closure from Commercial Real Estate Exposure
Souring commercial real estate loans are taking a disproportionate bite out of ailing mid-size bank balance sheets as more failures are set to come in 2010.

April 21, 2010
CMBS Defaults to Pass 11% by 2011: Fitc
Commercial mortgage loan defaults look likely to rise through the end of the year, with another 4.4% likely in 2010 and the overall default rate expected to pass 11% among securities rated by Fitch Ratings, the credit-rating agency said today. New CMBS defaults increased more than five-fold last year, totaling 1,464...

April 1, 2010
Vermont AG Reaches Settlement With Countrywide
Vermont Attorney General William H. Sorrell announced Wednesday that Countrywide Financial Corporation, now a part of Bank of America, has entered into a settlement with his office to resolve claims concerning Countrywide's origination of home loans in past years.

April 1, 2010
Execs Expect Commercial Property Values and Rents to Keep Falling
The real estate outlook for the remainder of 2010 is grim. According to a recent online survey of real estate executives conducted by Deloitte, 76 percent of executives expect commercial property values to continue to fall this year, and 73 percent predict asking rents will follow the same trend.

March 30, 2010
Regulators Fret over CRE Concentrations, but Banks Looking to Modify
Federal regulators are warning that by the end of 2010, half of all commercial real estate mortgages will be underwater.

March 19, 2010
One in 200 Home Mortgages is Fraudulent: First American CoreLogic
Nationwide, one in every 200 residential loans funded last year, totaling $14 billion, involved fraud, according to First American CoreLogic. Despite what looks like an unsettling amount of shadiness lurking within the mortgage market...

March 19, 2010
Bank of America Sues First American
Mortgage industry lawsuits are beginning to stack up - Federal Home Loan Banks are suing lenders, lenders are suing insurers - all in an attempt to recoup losses from a crippling national housing crisis.

March 11, 2010
Foreclosure Specialist Admonishes HAFA Program

February 25, 2010
LPS Cautious of Declaring "Recovery"
...for good reason - markets around the country have been battered by plummeting property values, mounting foreclosures, and neighborhoods riddled with vacant homes...

February 11, 2010
Fed's Exit from MBS Program on Course as Planned
The Federal Reserve yesterday released an outline of their plan to remove the financial marketplace from the supportive influences of accomodative monetary..

February 11, 2010
January foreclosures rise from same 2009 month; many more expected
The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in strapped homeowners who've fallen behind on mortgages could be on the way.

January 28, 2010
Business Turnaround – Execute Your Plan and Prepare For the Future
A successful commercial operation turnaround devise depends on coherence and persistence. You contingency keep say your concentration on

January 22, 2010
Fannie Mae, Freddie Mac Should Be Eliminated, Frank Says
Fannie Mae and Freddie Mac should be eliminated in their current form by lawmakers.

January 20, 2010
Unfinished Projects Weigh on Banks
U.S. lenders are being forced to make unpalatable choices as they try to keep afloat stalled real-estate projects like Atlanta's Streets of Buckhead.

January 20, 2010
No Plans for Mortgage-Principal Reductions
Despite increasing pressure to take more aggressive steps to keep troubled borrowers in their homes, the Obama administration said Wednesday that it had no immediate plans to alter its foreclosure-prevention program by increasing its reliance on reducing loan balances.

January 12, 2010
HUD Subpoenas 15 Mortgage Companies Over High FHA Insurance Claims
HUD Office of Inspector General (OIG) served subpoenas to the offices of 15 mortgage companies across the country...

January 12, 2010
US Small-Business Optimism Deteriorates Further
Small-business owners grew even more pessimistic in the final month of 2009, capping off what was a trying year for their businesses.

January 10, 2010
Modification of troubled mortgages on slow pace
About 12% of eligible borrowers have begun trial modifications of their mortgages since the start of a $75 billion federal program to rework home loans into more affordable monthly payments, the Treasury Department reported Wednesday.

January 10, 2010
Delinquencies on commercial property loans surge
New threat looming for the industry: commercial real estate.

November 24, 2009
Bankruptcies on the rise again
The number of people hitting financial rock bottom across the nation continues to grow at an alarming rate

October 13, 2009
Commercial real estate market still troubled
Housing prices have stabilized and sales are rising, but the commercial real estate market is still deteriorating locally and nationally, ...

September 10, 2009
US mortgage delinquency rates for commercial properties jump
The commercial property sector took a hard knock after a home mortgage meltdown triggered the biggest financial crisis in decades last year and plunged the world’s largest economy into recession

June 17, 2009
CMBS Posts Record Delinquency Rate
Commercial mortgage-backed securities (CMBS) experienced a 2.07% delinquency rate in May as multifamily and retail properties showed weaker performance, driving loan defaults.

June 17, 2009
Home > Secondary Market/Investors > CMBS Posts Record Delinquency Rate CMBS Posts Record Delinquency Rate

May 14, 2009
Commercial RE Braces For a Surge in Defaults
Commercial RE Braces For a Surge in Defaults

April 23, 2009
Folks losing homes dial 1-800; no one answers/help from Lenders
Edit Article Folks losing homes dial 1-800; no one answers/help from Lenders

February 18, 2009
Obama Announces Plan To Combat Housing Foreclosures: Stocks Fell
Feb 18, 2009 ... Barack Obama released details of his $75 billion mortgage relief plan... The reactions on Wall Street, Stocks Fall in response...

February 16, 2009
Overview - Financial Free-Fall
BILLIONS - in mortgage-related investments went bad, mighty investment banks that once ruled high finance have crumbled or reinvented themselves as humdrum commercial banks. The nation’s largest insurance company and largest savings and loan both were seized by the government. The channels of credit, the arteries of the global financial system, have been constricted, cutting off crucial funds to consumers and businesses small and large.

February 14, 2009
Treasury Boss Taking Fire in Europe Over Stimulus
Timothy F. Geithner spent two days in Rome brainstorming with the Group of 7 nations about fixing the global economy.

February 12, 2009
US Stimulus Plan And Financial Bailout Fail To Bolster Confidence
US treasury secretary Timothy Geithner ducked the tough questions investors want answered as he rolled out a plan to repair the financial system.

February 11, 2009
The Obama No Plan Lacks Details; Markets Take A Dive; No Firm Plan To Prevent Foreclosures Announced; Real Estate Caused Global Economic Panic Worsens Daily

February 6, 2009
Mortgage Industry Employment Down 18% Over Past Year
Industry Employment Down 18% Over Past Year

February 5, 2009
Senate Approves Extended Homebuyer Tax Credit
$15,000 homebuyer tax credit

February 2, 2009
Neg Am Loans Problem for FirstFed
Mortgage wholesale production operations, lost $244.8 million ($17.91 per share) in the fourth quarter of 2008 because of a $220 million provision for loan losses.

January 19, 2009
Merrill Settles Ohio B&C Case for $450 Million
Merrill Lynch & Co. - now the property of Bank of America - has agreed to pay $450 million to settle a subprime collateralized debt obligation lawsuit brought by lead plaintiff the Ohio State Teachers Retirement System.

January 7, 2009
Banks See Rise in Overdue Home Equity Loans
The delinquency rate on home equity lines of credit reached its highest level ever

November 7, 2008
Economic Decline Deepens Going into Fourth Quarter
Economic Decline Deepens Going into Fourth Quarter

October 21, 2008
Deepening Financial Turmoil Delays Housing Recovery
Deepening Financial Turmoil Delays Housing Recovery

October 10, 2008
Financial Turmoil Continues Unabated
Financial Turmoil Continues Unabated

October 3, 2008
Economic Data Take Turn for the Worse Even Before Credit Markets Freeze
Economic Data Take Turn for the Worse Even Before Credit Markets Freeze

September 8, 2008
Federal government had taken over Freddie Mac and Fannie Mae
After weeks of anticipation and speculation, Treasury Secretary Henry Paulson announced that the federal government had taken over Freddie Mac and Fannie Mae. No one is really sure what the takeover will cost - estimates range as high as $200 billion - but it is clear that taxpayers and some stockholders are going to take a bath. It is also questionable just how much the drastic federal move will impact the housing slump, foreclosures, interest rates, or lots of other things that were given as reasons for the action.

May 21, 2008
Hurricane Coverage May Also Fall Victim to Credit Crunch
The mortgage crisis has created yet another concern that could directly impact homeowners and, strangely enough, it is Mother Nature. A.M. Best Company, a full-service credit rating organization for the financial industries has raised speculation that the credit crunch may affect the ability of insurers and reinsurers to cover claims resulting from coastal disasters. The company issued a special report this week...

May 19, 2008
Washington Report: Risk-Based Pricing
The Federal Housing Administration shook up Washington's mortgage and real estate leaders last week by announcing that it's shifting its entire production line to risk-based pricing -- starting this summer.

May 16, 2008
Elimination of Freddie Mac’s Declining Market Policy
Freddie Mac is committed to protecting borrowers in these challenging times and providing you with clarity of our loan purchase requirements. This includes our declining markets policy, which was intended to aid borrowers, lenders, and the industry in the current environment.

May 16, 2008
Fannie Mae Announces Single National Down Payment Policy;
"As another part of our 'Keys to RecoveryTM' initiative, we are today announcing that we will be equalizing the down payment requirements for borrowers in all parts of the country, regardless of local market conditions,"

May 13, 2008
Results from Piecemeal Housing Plans Leave Doubts About Effectiveness
Even as the House of Representatives passed two housing rescue bills and the Senate wrestles over a bill of its own, criticism is raining down on those remedies to the housing crisis that are already in place. Also under fire, not unexpectedly, are proposed new rules for regulating the mortgage industry...

May 12, 2008
New Fannie Mae Program May Benefit 150,000 Homeowners
Another program to aid in the subprime mortgage crisis has been announced by Fannie Mae. Under the new rules Fannie will refinance mortgages at up to 120 percent loan to value and the program appears to be limited to loans that are paid to date and that Fannie either owns or insures. Fannie estimates that 150,000 homeowners could be helped by such a program.

April 28, 2008
Wachovia Settles One Suit, Confronts Money Laundering Charges
Wachovia Corporation, the rising Charlotte North Carolina banking star is having a very bad April. Then, according to a Wall St. Journal story, federal prosecutors are investigating the bank as part of "a broad probe of alleged laundering of drug proceeds by Mexican and Colombian money-transfer companies..."

April 15, 2008
Bear Stearns - EMC Mortgage face Investigation
Bear Stearns Snatches Last-Gasp First Quarter Profit, Faces Multiple Probes

March 17, 2008
Big Losses for PMI Company and HR Block Unloads Option One
Big Losses for PMI Company and HR Block Unloads Option One

March 13, 2008
Mortgage Mess is Apparently Ready to Claim Two More Victims

March 11, 2008
Stop Paying Your Mortgage and Walk Away? Right
Stop Paying Your Mortgage and Walk Away? Right...

March 6, 2008
Home Equity Hits New Low
The Federal Reserve on Thursday announced that, in 2007, American ownership in their homes as measured by equity fell below 50 percent for the first time since records were first kept in 1945.

December 6, 2007
Bush, Paulson to Unveil New Subprime Rate Freeze
More than 30% of borrowers who took out subprime adjustable-rate mortgages over the last two years are behind on their payments, and the rate of defaults nationwide has skyrocketed over the 12 months.

November 28, 2007
Wells Fargo to Liquidate Home Equity Portfolio
After reporting a $1.4 billion loss in home equity loans, Wells Fargo has decided to sell the highest risk loans which total $11.9 billion.

November 28, 2007
Justice Department Opens Countrywide Probe
The Justice Department has subpoenaed records from Countrywide Financial Corp. after allegations surfaced that the lender illegally enacted foreclosure proceedings against borrowers who were current on their mortgages.

November 27, 2007
Two New Reports Deepen Housing Gloom
The U.S. Council of Mayors released a devastating report on the impact on member communities of the ongoing housing market problems. The report, prepared by Global Insight, an economic forecasting firm, was presenting at a meeting of the Conference attended by mortgage industry and community groups.

November 21, 2007
Shareholders Begin Suing Because of Subprime Losses
Shareholders of American International Group Inc. and Bear Stearns Cos. have filed suit alleging that senior executives are to blame for steep losses related to subprime mortgages.

November 20, 2007
Freddie Mac Loss Sparks Need for Capital
Freddie has hired Goldman Sachs and Lehman Brothers to explore options to help it stay in compliance with a 30% mandatory capital surplus.

November 12, 2007
Lending Survey Indicates Tightened Standards, Lower Demand
The Federal Reserve has released the October 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices which addresses changes in the supply of and demand for bank loans both to businesses and consumers over the previous three months which, we presume, corresponds to the third quarter of 2007. Banks were asked separately about changes in credit standards and demand for prime, nontraditional, and subprime residential mortgages. The report summarizes responses from 52 domestic banks and 22 foreign banking institutions, a respondent pool which accounts for the majority of the bank lending in the country...

November 5, 2007
Mortgage Reform and Anti-Predatory Lending Act of 2007 (Introduced in House)
Sides are quickly being drawn over a pending bill before the House of Representatives which, if passed, will put in place some stringent new standards for mortgage underwriting and the regulation and compensation of mortgage brokers. HR 3915 is expected to be voted on by the House Financial Services Committee on Tuesday, November 6. Introduced by Representative Bradley Miller (D-NC) and cosponsored by 21 other members of the House, modifies three major sections of Truth in Lending Act (15 U.S.C. 1602), Title I deals with mortgage origination; Title II outlines minimum standards for mortgages, and Title III addresses high cost mortgages...

November 5, 2007
Citigroup may face $11 billion writeoff
Citigroup said it expects to write down $5 billion to $7 billion after taxes -- roughly three or four months of profit -- for its $55 billion of exposure to U.S. subprime mortgages.

November 5, 2007
Pimco Exec Pegs Subprime Problem at $1 Trillion
subprime and alt-A loans that are “basically garbage loans,” $250 billion worth will default, predicted Bill Gross, Pimco's chief investment officer.

November 2, 2007
Fed Pumps $41B Into US Financial System
WASHINGTON - The Federal Reserve pumped $41 billion into the U.S. financial system Thursday...

November 1, 2007
Current State of the Mortgage Market
What a fascinating and tumultuous time is upon us! Both the housing and the mortgage market are convulsing wildly! There are so many facets to the "big picture" that I would never presume have all the answers, so the following disclaimer is in order: I am a mortgage broker and the following is my opinion based on my experience and my knowledge. You might agree with me, you might not. Away we go...

November 1, 2007
$75 Billion May Only Stem the Tide
Structured investment vehicles used to fix credit markets could fall victim to the market, rather than bail it out.

October 31, 2007
U.K. Mortgage Volume Plummets
Mortgage volume in the U.K. dropped off 20% in September, its lowest volume since August 2005.

October 26, 2007
Two Key Mortgage Earnings Out This Morning: Both Weak
Countrywide and FBR both released earnings this morning, and they were not pretty.

October 18, 2007
SEC Turns Spotlight on Countrywide CEO Mozilo
Reuters News Service and the Associated Press are both quoting a story in the Wall Street Journal on Wednesday that the controversial CEO of Countrywide Mortgage, Angelo Mozilo, is under an informal investigation by the Securities and Exchange Commission (SEC). Countrywide is the largest mortgage company in the country and Mozilo, its founder, is generally credited or blamed for the company's evolution from a mostly conventional lender into one where subprime products dominated. At issue is the sale by Mozilo of some 130 million of his company's stock in the first six months of 2007. It seems that there is...

September 28, 2007
New Home Sales See Biggest Year Over Year Drop In 37 Years
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development issued their monthly joint report on August new house sales on Thursday. The July sales rate was itself revised downward from an original estimate of 870,000 units. The stunning figure, however, was the comparison of August 2007 data with that on sales one year earlier....

September 21, 2007
Capitol Hill Taking on Garnishing Practices by Banks
Lawmakers are looking for ways to stop banks from garnishing accounts holding protected funds, such as Social Security payments.

September 17, 2007
Mortgage Fraudsters Finding Ways To Exploit Homeowners
"Recent statistics suggest that escalating foreclosures provide criminals with the opportunity to exploit and defraud vulnerable homeowners seeking financial guidance.

September 13, 2007
Greenspan Concedes Mortgage Dilemma
WASHINGTON (AP) - Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.

September 13, 2007
Stocks Jump on Countrywide Financing
Stocks rose sharply Thursday, led by strong gains among the blue chips and mortgage lender Countrywide Financial Corp., which said it had lined up added financing.

September 13, 2007
Countrywide Boosts Borrowing Capacity
Countrywide boosted its borrowing capacity by $12 billion as the mortgage lender struggles to weather the slowdown in the housing market, the company said Thursday.

September 10, 2007
Countrywide To Cut As Many As 12000 Jobs
The nation's largest home lender Countrywide Financial Corporation said it plans to cut up to 12,000 jobs, 20 percent of it's workforce, over the next three months. Most of the job cuts will take place in areas most affected by lower origination volumes. Countrywide said that it expects its 2008 loan originations to be about 25% lower than 2007. Countrywide also stated that it will...

September 6, 2007
Bankruptcy Filings Up 18% in February 2007
On a daily basis, the February filings were up 17.7% as compared to January. ... Also, these number are for total bankruptcy filings, not consumer filings ...

September 5, 2007
Lenders urged to try to help struggling homeowners
The statement asks that all lenders "review to determine the full extent of their authority to identify borrowers at risk of default"—even if the loans themselves have been securitized.

September 2, 2007
FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need
Bush offered America some presidential words this morning to let us know he's on top of this whole subprime meltdown, credit crunch, liquidity crisis. On his agenda: An FHA bailout in the form of a new feel good loan program: FHA Secure . Let's pause for a moment and reflect back on how well HUD is currently doing. First of all, in order to originate an FHA loan, the stack of paperwork, hoops to jump through, policies and procedures, exceptions to the policies and procedures, and updates to the policies and procedures, are, shall we say, astronomical, and I'm just talking about qualifying the applicant, let alone underwriting and the appraisal process.

September 1, 2007
Bush outlines aid for mortgage holders
WASHINGTON - President Bush on Friday announced a set of modest proposals to deal with an alarming rise in mortgage defaults that have contributed to turbulent financial markets over recent weeks. Housing analysts said it was highly likely the limited steps Bush outlined will be expanded in coming weeks ...

August 26, 2007
NVR Mortgage Hit with Restricted Credit Line
Hit with Restrictions

August 26, 2007
House and Home
Our home is supposed to be our castle

August 21, 2007
Capital One Shuts Down GreenPoint Mortgage Unit
Mortgage meltdown claims another victim

August 21, 2007
Foreclosures Surge 93 Percent
One foreclosure for every 693 households last month.

August 19, 2007
The Fed's Next Move: A Wall Street Bailout?
Lending meltdown may force Fed to cut interest rates

August 12, 2007
Unregulated Lenders Blamed for Mortgage Meltdown
Mortgage market too vital to be unregulated, Rep. Frank argues

August 5, 2007
American Home Mortgage Company Collapses
Not the last -- corporate casualty of the subprime mortgage crisis

July 27, 2007
Housing News Turns The Stock Market To Mush
It's been a rough week for the housing market. Homebuilder confidence is in the gutter, existing home sales fell substantially and the bad news emanating from the subprime debacle continues top headlines. Now we have new home sales and builders reporting earnings.

July 27, 2007
Mortgage Market Braces for ARM Resets
Participants and followers in the subprime mortgage market have temporarily stopped looking at the problems of the present and are today focusing on the horizon.

July 26, 2007
Wells Fargo shutters nonprime mortgage unit
Hurt by a slump in the housing market, the mortgage lender will cut 170 jobs when it shuts down operations in Louisiana and Iowa.

July 23, 2007
Wells Fargo yanks popular subprime loan
Bank says its will stop offering 2/28 adjustable-rate mortgage loans in response to market, regulatory pressure.

July 23, 2007
South Florida Attorney Charged With Mortgage Fraud
FraudSouth Florida Attorney Charged With Mortgage Fraud. TALLAHASSEE - Attorney General Charlie Crist today announced the arrest of a South Florida attorney...

July 23, 2007
Crist signs bill to curtail mortgage fraud
Florida ranked No. 1 in mortgage fraud, over two times higher than the national average.

July 23, 2007
Florida ranked No. 1 in mortgage fraud, over two times higher than the national average.

July 19, 2007
Losing the American dream
The Dow is soaring, and the economy is growing. So why are so many Americans bearish? Fortune's Nina Easton looks at an economy where money is plentiful, but security scarce.

July 19, 2007
Mortgage Delinquency, Foreclosure Trends Up

July 19, 2007
Mortgage Delinquency and Foreclosure Rates Remain Low
Delinquency and foreclosure rates continue to be low, particularly for borrowers holding traditional mortgage loans.

July 19, 2007
Subprime News + Mortgage Delinquency = Bad Day On Wall St.
More bad subprime announcements and mortgage delinquency report delivers a sucker punch to Wall Street.

July 13, 2007
North Carolina Shutters “We Buy Homes” Scheme

July 12, 2007
Subprime housing woes rekindle fears for US economy
A foreclosure sign sits in front of a home in Miami in March 2007. Fresh troubles in the subprime segment of the US housing market have reignited fears of contagion that could affect the broad financial sector and possibly the broader economy, analysts say.

June 21, 2007
Massachusetts Governor Avoids Reprimand for Ameriquest Call
The Massachusetts State Ethics Commission said it will not seek a reprimand against Democratic Gov. Deval Patrick for allegedly using his influence in an improper manner.

June 15, 2007
MBA Delinquency Data Not As Dire As RealtyTrac Reports
On Tuesday RealtyTrac released some pretty scary numbers relating to foreclosures. Results of the quarterly National Delinquency Survey conducted by the Mortgage Bankers Association (MBA) were released on Thursday and were much less alarmist than the RealtyTrac figures. According to Doug Duncan, MBA's Chief Economist and Senior Vice President of Research and Business Development, the data is being driven by circumstances in seven states. "Without these states...

June 15, 2007
Freddie Mac to Become a Real Company Afterall
38 years after being founded, Freddie Mac will begin to act like other public companies.

June 15, 2007
Delinquencies, Foreclosures Up for Subprime Homeowners
Subprime borrowers faced more delinquencies and foreclosures during the first quarter compared to the previous quarter.

June 14, 2007
Credit Piggybacking - What Will They Think Of Next?
We recently ran across this add on Craigslist: "BORROW SOMEONE'S CREDIT SCORE WHILE WE FIX YOURS You heard me... I'll get your score up to buy your house or car now, and we'll fix your credit for the future. This is the best value in town!!!!" Borrow someone's credit score? Yup, that's the deal and apparently it is legal. The phenomenon may not last long. FICO announced on June 12 that piggy-backing will soon come to an end when...

June 4, 2007
Freddie Mac key updates: hurricanes Katrina and Rita
Today's News... Revised temporary selling and servicing requirements for mortgages affected by hurricanes Katrina and Rita

June 1, 2007
Foreclosure Happens, But There Are Solutions
Hopefully you will never be confronted with the reality of defaulting on your home mortgage, but should it happen, a little knowledge and were to call can actually be a very good thing.

May 26, 2007
Mortgage Foreclosures Numbers on the RISE
The rise in subprime mortgage foreclosures poses looming threats to the housing market, mortgage lenders, and homeowners across the country.

May 18, 2007
Fed Chief Addresses Foreclosures
The Federal Reserve does not foresee a broader economic impact from the growing number of mortgage defaults and home foreclosures, its chairman said yesterday. And he cautioned that heavy-handed regulation of lenders could have the unintended effect of adding to the strain on the troubled housing market

May 17, 2007
Florida Tops in Mortgage Fraud for 4th Time
Mortgage fraud in Florida rose 43% in 2006, giving the state the highest fraud rate in the country for the fourth year, according to the Mortgage Asset Research Institute.

May 17, 2007
Nonprime Mortgage Players Warn Against Government Reforms ($)
Mortgage industry bigwigs urged yesterday that the federal government forego any effort to extend subsidizes to nonprime borrowers in financial trouble.

May 16, 2007
The Ugly Face of Foreclosure
When foreclosures climb, entire communities can go down.

May 15, 2007
HSBC Mortgage Portfolio Troubled
HSBC Holdings Plc's United States mortgage business is in poor shape, according to a Securities and Exchange Commission filing.

May 15, 2007
Foreclosures Increase 62% in April
Foreclosure filings in the United States increased to more than 147,000 last month, according to RealtyTrac Inc.

May 15, 2007
Banking Regulators Working With Lenders
Federal banking regulators are giving lenders more flexibility when they restructure high-interest rate mortgages given to home buyers with poor credit.

May 14, 2007
HUD Secretary Wary of Subprime Bailout
HUD Secretary remains wary of proposals that suggest a federal bailout of the subprime industry is warranted.

May 11, 2007
FHA Proposed Rule: Specify prohibited sources for a mortgagor's investment (downpayment).
FHA Proposed Rule: Posted by Dan Schultz of American Loss Mitigation Consortium (May 11, 2007) Would address a situation in which the mortgagor's investment (downpayment) is derived from a gift, loan, or other payment that is provided by any donor, including an individual or an organization, and would also specify prohibited sources for a mortgagor's investment (downpayment).

May 10, 2007
Credit Bubble About to Burst, Bank of America Chief Says
Bank of America Corp. CEO Ken Lewis chastised the credit industry and called for more lending "sanity."

May 9, 2007
Moody's Loss Expectations for Nonprime Mortgage-Backed Securities Up 30%
Posted by Aaron Johnson 2007-05-09 10:40:39.0 Moody's investors Service's loss expectations for the nonprime mortgage-backed securities market have increased 30% since 2003.

May 7, 2007
NHMC and NAA Sue HUD over Language Requirements
Two associations representing owners of multi-family properties have brought suit again the Department of Housing and Urban Development over new regulations that require them to provide written materials and services to tenants and potential tenants for whom English is not their primary language. ...Arbury suggested that, rather than putting the burden on apartment owners, HUD should use its own resources to translate the necessary documents into the more than 100 different languages spoken in the U.S. rather than...

April 26, 2007
How One Family Descended Into The Nightmare of a Foreclosure
Mom of Four Lost Home & Husband After Refi Flub: 'It's Totally Humiliating'

April 25, 2007
Mortgage Rates Drop Along With Inflation Fears
Soothing news about inflation was reflected by declining mortgage interest rates last week, although Freddie Mac and the Mortgage Bankers Association were in substantial disagreement about the scale of the changes.

April 19, 2007
Residential Capital LLC Cuts Another 1,000 Positions
In the second major job cut this year, Residential Capital LLC announced it would eliminate 1,000 jobs due to the "deterioration of the subprime mortgage market."

April 17, 2007
California Mortgage Defaults Hit 10-Year High
In California, mortgage defaults reached a 10-year high in the first quarter, largely spurred by people who either took out equity or bought homes in the past two years.

April 13, 2007
Countrywide Foreclosures Rise on Higher Loan Volume
While overall mortgage lending rose 5% from March 2006 at Countrywide Financial Corp., the share of its portfolio facing foreclosure nearly doubled.

April 13, 2007
1 Million Foreclosures Expected in Next Six Years
More than a million homeowners will be forced into foreclosure in the next six years, according to Christopher Cagan, director of research at First American CoreLogic.

April 13, 2007
Groups Call For Forbearance For Troubled Mortgages
A coalition of housing activists and civil rights groups has called for a six month moratorium on foreclosures to provide time for financially troubled homeowners with time to solve their problems. Josh Nassar of the Center for Responsible Lending blamed the loans' terms for the rising foreclosure threat and said that...

April 10, 2007
Fraud, abusive lending crushing dreams for millions of homeowners.
As hundreds of billions of dollars worth of these loans "reset" to higher monthly payments, many so-called "subprime" borrowers - historically those with shaky credit histories - are sitting on financial time bombs. They're finding out the hard way that the paperwork they signed may have buried them under a crushing debt load they can't sustain.

April 10, 2007
NAR Chief Economist Upbeat But Points To A Few Possible Problems
David Lereah, the chief economist for the National Association of Realtors (NAR) has weighed in on the bankruptcies, foreclosures, and predicted Armageddon in the subprime mortgage market. So where does Lereah see us going from here? ...He expects that today's subprime problems are likely to spill over into the housing sector and the economy in a number of ways. He projects that, if lenders exercised poor underwriting in the subprime market, it is likely that these practices were also used for their Alt A loans and possibly even into prime mortgage lending as well.

April 9, 2007
The Myth of the Risky Sub-Prime Borrower
Money lending institutions have tarred entire segments of the population as credit unworthy through the mortgage industry's own discriminatory, irresponsible - and now reckless - behavior.

April 2, 2007
Subprime Situation Spurs A Whole Lot Of Talk
Congressional hearings, press releases, opinions, and political agendas may or may not be adding clarity to the subprime mortgage discussion but they are beginning to show where the lines are drawn.

April 2, 2007
New Century Bankruptcy Filing Expected This Morning
New Century Bankruptcy Filing Expected This Morning Posted by Aaron Johnson 2007-04-02 06:42:18.0 Irvine, Calif.-based New Century Financial Corp. is expected to announce this morning it will file for bankruptcy.

April 1, 2007
Top 10 States with the Most Foreclosures
4/1/2007 - San Diego, CA Top 10 States with Most Foreclosures

March 30, 2007
Credit Suisse sues subprime lenders
DLJ Mortgage Capital Corp., a New York-based unit of Zurich, Switzerland-based Credit Suisse [ticker: CS], has filed lawsuits totaling $30 million against three mortgage lenders.

March 20, 2007
Do You Qualify for Mortgage Refinancing? by Dan Schultz
[Real-Estate:Mortgage-Refinance? by Dan Schultz] As there is an array of reasons one might find himself in such a predicament, each homeowner's case is unique. There are options available that can prevent foreclosure. A homeowner needs only to know whether or not any processes apply to his case. Therefore it is important for a homeowner in danger of foreclosure to fully assess his situation and determine what can be done to prevent losing the house in which he has invested so much time and energy.

March 12, 2007
Homeowners Stuck as Lenders Cinch Standards
American Loss Mitigation Agency, a financial counseling group, received 4,500 requests from homeowners for help on its website (www.FederalHomAid.com or www.ALMAHelp.com), 150% more than last year. The homeowner requests are in financial difficulty and often trying to stave off foreclosure.

March 8, 2007
Foreclosure and Loss Mitigation by Dan Schultz
[Foreclosure and Loss Mitigation] If Your Home Loan is Guaranteed by FHA or VA - You May Have Additional Options

February 13, 2007
Persuing a Career in Loss Mitigation by Dan Schultz
Learn the benefits of pursuing a new career in loss mitigation. Under the guidance of the nations leading mentor and author of running and operating a legal Loss Mitigation Practice Dan Schultz.

February 8, 2007
Options For Preventing Foreclosure by Dan Schultz
[Options For Preventing Foreclosure by Dan Schultz] The last thing a homeowner wants to face is the possibility of foreclosure. Troubles with finances can happen suddenly and without warning, leaving a homeowner despondent over where to find enough money to pay the mortgage. Whether this crisis arises from an medical emergency of loss of employment, it is important to immediate consider your options so you don't lose more.

January 26, 2007
What is Loss Mitigation by Dan Schultz
[What is Loss Mitigation by Dan Schultz] Defaulting on a mortgage payment does not bode well for the future security of one's home. In addition, the inability to pay will reflect upon further credit reports and may prevent people from being to able to buy elsewhere. Those with little understanding of real estate and major finances may think there is no other option but to let the bank foreclose on the home; however, with the help of a loss mitigation counselor, there is hope for the homeowner.

January 25, 2007
Foreclosure - Cause and Effects by Dan Schultz
[Foreclosure - Cause and Effects by Dan Schultz] For homeowners, the one word that invokes the most concern is foreclosure. Whether through tragic circumstances or situations beyond the homeowner's control, foreclosure is a threat that can lead to many problems in the future. Fortunately, foreclosure is something that can be avoided in times of financial trial, if one knows where to get help.

January 23, 2007
New Bankruptcy Law Makes it Harder to Stop Foreclosure
Consumer advocates and the public appear to be completely unaware of the total and complete victory of the creditors under the new legislation.

November 20, 2006
Choosing a Lawyer - Loss Mitigators by Dan Schultz
[Choosing a Lawyer - Loss Mitigators by Dan Schultz] Finding the right lawyer is a critical task for this type of business. We have found that a lawyer who can meet your needs should possess several key qualities. Among the most important are honesty, experience in your field, and availability.

November 5, 2006
Characteristics of the Successful Entrepreneur by Dan Schultz
[Characteristics of the Successful Entrepreneur by Dan Schultz] A good deal is known about what it takes to be a successful entrepreneur. For the most part, it seems the one overriding factor is a tremendous need to achieve. In short, attitude seems to have almost everything to do with success in business, while factors, such as intelligence, education, physical appearance, and a pleasing personality, are much less important.

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