Obama’s New Refinance Program
Thursday, January 26th, 2012 Posted in Inside Real Estate | No Comments »In his State of the Union speech, Tuesday evening, President Obama announced a new mortgage refinancing program that would expand the government’s Home Affordable Refinance Plan (HARP). While short on details, the plan would supposedly allow homeowners to refinance their mortgages ...
Reform Coming For Loan Servicing
Wednesday, January 25th, 2012 Posted in Inside Real Estate | No Comments »The loan servicing business has long needed some regulation and it appears to be on the horizon. 2012 will likely be the year that federal government requires standardization of mortgage loan servicing policies. Look for more loan modifications and perhaps even some ...
FHA To Tighten Lending Standards
Monday, January 23rd, 2012 Posted in Inside Real Estate | No Comments »The Federal Housing Administration (FHA) has announced that it will soon strengthen lending standards to reduce risk of default for FHA loans. New regulations will include stricter requirements for lenders as a condition of being allowed to continue issuing FHA loans. Also ...
B of A Struggles With Its Bad Loans
Sunday, January 22nd, 2012 Posted in Inside Real Estate | No Comments »Bank of America has been forced to restructure and reduce its workforce as it deals with a mountain of delinquent mortgage loans. The company slashed 7,000 jobs during the fourth quarter of 2011 and expects to cut more jobs this year. As ...
Are Principal Reductions Coming?
Friday, January 20th, 2012 Posted in Inside Real Estate | 2 Comments »Nearly one million U.S. homeowners could get principal reductions if the federal government reaches a settlement with five of the nation’s largest mortgage lenders. HUD Secretary Shaun Donovan is pressing the lenders to provide up to $25 billion in relief to ...
