Builders can't keep up with apartment demand, so expect higher rents
For more: http://bit.ly/eRzl4t
After several years of depressed apartment building, many cities have a shortage of rental housing. Although developers are ramping up construction, it will take a year or more to get new units on the market.
Saturday, January 15, 2011
Bank of America online banking down for some
For more: http://bit.ly/egBqyR
Bank of America Corp. said its online banking Web site is down for a “subset” of customers but that the “majority” of depositors can still bank online.
For more: http://bit.ly/egBqyR
Bank of America Corp. said its online banking Web site is down for a “subset” of customers but that the “majority” of depositors can still bank online.
Lawmakers consider slowing Virginia foreclosure process
For more: http://wapo.st/gliHVI
As Virginia's new legislative session gets underway, lawmakers are considering an overhaul of the state's foreclosure process aimed at combating alleged shortcuts and abuses by lenders seizing borrowers' homes.
For more: http://wapo.st/gliHVI
As Virginia's new legislative session gets underway, lawmakers are considering an overhaul of the state's foreclosure process aimed at combating alleged shortcuts and abuses by lenders seizing borrowers' homes.
Jumbo Mortgages: Price Differences Are Shrinking
For more: http://nyti.ms/fByGNs
If you’re considering taking out a jumbo mortgage, now may be a good time to get the loan. According to data released last week from LendingTree, the difference in price between a conforming 30-year fixed mortgage and a jumbo mortgage for a higher amount was recently at around 60 basis points. (A basis point is one one-hundreth of a percentage point.)
For more: http://nyti.ms/fByGNs
If you’re considering taking out a jumbo mortgage, now may be a good time to get the loan. According to data released last week from LendingTree, the difference in price between a conforming 30-year fixed mortgage and a jumbo mortgage for a higher amount was recently at around 60 basis points. (A basis point is one one-hundreth of a percentage point.)
As Banks Raise Fees, You Have Options
For more: http://nyti.ms/f9binG
Earlier this month, Bank of America announced its intent to test a number of different monthly fees for customers in some states, depending on the balance in their accounts or other relationships with the institution. Right before the new year, meanwhile, JPMorgan Chase informed customers that under certain circumstances it would add monthly fees to many of the accounts it inherited from the now-deceased Washington Mutual.
For more: http://nyti.ms/f9binG
Earlier this month, Bank of America announced its intent to test a number of different monthly fees for customers in some states, depending on the balance in their accounts or other relationships with the institution. Right before the new year, meanwhile, JPMorgan Chase informed customers that under certain circumstances it would add monthly fees to many of the accounts it inherited from the now-deceased Washington Mutual.
Friday, January 14, 2011
Mortgage Rates Decline to 4-Week Low
For more: http://bit.ly/i8t7fB
The average 30-year fixed-rate mortgage fell to 4.71% in the week ended Jan. 13, reaching a four-week low, said Freddie Mac.
For more: http://bit.ly/i8t7fB
The average 30-year fixed-rate mortgage fell to 4.71% in the week ended Jan. 13, reaching a four-week low, said Freddie Mac.
Louisville foreclosures up again in 2010; might be easing this year
Reported by Courier-Journal.com - January 14, 2011
By Chris Otts - cotts@courier-journal.com
Janeen Jones remembers the “amazing feeling” of becoming a homeowner for the first time at age 37.
She bought a 1.5-story, four-bedroom home with a large covered porch on West Broadway, next door to her elderly aunt.
But after losing her job and falling more than a year behind on the mortgage, Jones is considering handing the 90-year-old house back to the bank, which has filed a foreclosure against her, and finding a place to rent.
“Sometimes you’ve got to just walk away,” she said.
Foreclosures increased about 20 percent in Jefferson County and throughout the metro area in 2010, according to two separate measures. Still, the local foreclosure rate remains below the national average, and there are some early signs that the crisis might finally let up this year.
Jefferson County scheduled 5,229 court-ordered foreclosure sales last year, a 19 percent increase from 2009, according to Edith Halbleib, the county official in charge of foreclosures. Nearly 2,600 properties were actually sold at auction, a 24 percent increase from 2009.
The figures include commercial and industrial property, but the “great majority” of foreclosures are residential, said Halbleib, master commissioner of Jefferson Circuit Court.
Meanwhile 7,540 residences in the 13-county Louisville-Southern Indiana area were in some stage of foreclosure during the year, a 20 percent increase from 2009, according to data released Thursday by RealtyTrac.com, a website that helps buyers find foreclosed properties.
Louisville’s foreclosure rate was one in every 73 residences, better than the rate of one in every 45 for the nation as a whole, according to RealtyTrac. Among 203 metro areas, Louisville had the 82nd lowest foreclosure rate.
More than half of all foreclosure activity last year was concentrated in five states: Arizona, California, Florida, Illinois and Michigan, RealtyTrac said.
Jones’ foreclosure, filed by HSBC Mortgage Services in November, has not been scheduled for a sale yet, but that could come up for a court-ordered sale in a matter of months, as Jones says she doesn’t have the $8,407 the bank is asking to put the loan back on track.
Once a foreclosure notice is received, a process that could take at least six to eight months gets started, said attorney Stuart Pope, advocacy director at the Louisville Legal Aid Society.
Before a homeowner can be forced out of the house, the lender must show it owns the loan and that the homeowner has defaulted on payments before a judge orders a sale through the commissioner’s office. All the while, the homeowner can negotiate a payment plan with the bank and potentially save the house, or buy time by fighting the proceedings in court.
The pace of foreclosures in Jefferson County has been rising for at least five years, and the court now handles nearly six times the number of cases it did in 2000, the earliest year for which statistics were readily available.
There are, however, some signs that foreclosures might finally slow down this year, Halbleib said.
While the court handled about 200 cases during each bi-monthly sale last year, the docket is looking much lighter lately, with 179 scheduled for Jan. 18, 108 for Feb. 1 and 83 for Feb. 15.
RealtyTrac said there was a big slow down in foreclosures nationally at the end of the year as shoddy documentation practices were revealed at big banks. Last week, the highest court in Massachusetts ruled for homeowners in a closely watched case involving wrongful foreclosures by U.S. Bancorp and Wells Fargo & Co.
But in Jefferson County, “I really can’t say that I have seen many of those cases,” Halbleib said, adding that the slowdown could be related to more run of the mill factors like homeowners working out deals with banks or filing bankruptcies to stop foreclosure sales.
If the slowdown continues, she said, “I think we will see at least a small decline for 2011. …The trend is certainly not up.”
Jones’ foreclosure, filed by HSBC Mortgage Services in November, could come up for a court-ordered sale in a matter of months, as Jones says she doesn’t have the $8,407 the bank is asking to put the loan back on track.
Rather than selling her house at auction, HSBC has offered Jones $2,500 in “relocation assistance” if she moves out, leaves the property in good condition and either sells the house at a steep discount with HSBC’s approval or hands over the title.
Jones, 42, bought the 1,454-square-foot house in 2006 for $69,900 with nothing down and a fixed interest rate of 9.99 percent, according to court and property records. The loan came through Decision One Mortgage, a unit of HSBC that made loans to those with weaker credit. HSBC shut down Decision One in 2007.
Jones said she first fell behind when she lost her job as a customer service representative in 2008. She found a job about two months later as a caretaker for disabled people, but her salary went from about $15 an hour to $11, she said.
Her husband was also jobless for about a year and now works part-time, she said.
For about six months, HSBC lowered Jones’ payment from $612 a month to about $400, but in July the bank asked for $8,407 — the amount it says it advanced for Jones in insurance, property taxes and the bank’s cost of making sure the property is maintained — to keep the loan in good standing.
HSBC spokesman Neil Brazil declined to comment on Jones’ case, but he sent a statement saying the bank considers foreclosure a “last resort” and helps homeowners in exchange for an orderly turnover of the property.
Other homeowners find it more difficult to communicate with their banks, housing counselors say.
Azari Cardoso and Yusimy Rossi, for example, have been trying for months to get a loan modification from US Bank after falling behind at least $6,629, when fees are included, on their house off Indian Trail in the Newburg area.
Cardoso and Rossi are Cuban immigrants who said they were laid off as welders at the Jeffboat shipyard in Jeffersonville, Ind., in 2009. Rossi was called back last year, giving the couple enough income to make them good candidates for a payment plan that would keep them in the house and work off the debt over a longer term, said Dan Farris at the Housing Partnership, their counselor.
But several phone calls and faxes of their documentation, a deal has yet to come through.
“It’s certainly is part of the frustrating process that a lot of homeowners experience,” Farris said.
Their house, which they bought for $126,514 in 2008 but was appraised at $115,000 last year, was on the foreclosure docket in August and October but withdrawn by the bank each time as it continued to consider the couple’s paperwork.
Lisa Clark, a Madison, Wis.-based spokeswoman for US Bank, said the bank wants to avoid foreclosure as much as Cardoso and Rossi do.
“We are, as we speak, working on the loan modification papers for them,” she said Wednesday.
This month Cardoso and Rossi resumed making payments of $947 a month so as not to fall more than a year behind, which would make them ineligible for a federal program that gives lenders an incentive to avoid foreclosure.
But it’s risky to keep paying the mortgage once a foreclosure is started, Farris said, in case the house is sold anyway. Usually lenders stop accepting payments after the process begins.
Clark said the payments are necessary for the couple to show the bank that a modification would work. “You have to demonstrate some income and consistency to pay something on the mortgage,” she said.
Cardoso, who speaks broken English, said for now he’s just glad the house — where they live with their three children — is no longer on the foreclosure docket.
“I am sleeping better,” he said.
Reporter Chris Otts can be reached at (502) 582-4589.
By Chris Otts - cotts@courier-journal.com
Janeen Jones remembers the “amazing feeling” of becoming a homeowner for the first time at age 37.
She bought a 1.5-story, four-bedroom home with a large covered porch on West Broadway, next door to her elderly aunt.
But after losing her job and falling more than a year behind on the mortgage, Jones is considering handing the 90-year-old house back to the bank, which has filed a foreclosure against her, and finding a place to rent.
“Sometimes you’ve got to just walk away,” she said.
Foreclosures increased about 20 percent in Jefferson County and throughout the metro area in 2010, according to two separate measures. Still, the local foreclosure rate remains below the national average, and there are some early signs that the crisis might finally let up this year.
Jefferson County scheduled 5,229 court-ordered foreclosure sales last year, a 19 percent increase from 2009, according to Edith Halbleib, the county official in charge of foreclosures. Nearly 2,600 properties were actually sold at auction, a 24 percent increase from 2009.
The figures include commercial and industrial property, but the “great majority” of foreclosures are residential, said Halbleib, master commissioner of Jefferson Circuit Court.
Meanwhile 7,540 residences in the 13-county Louisville-Southern Indiana area were in some stage of foreclosure during the year, a 20 percent increase from 2009, according to data released Thursday by RealtyTrac.com, a website that helps buyers find foreclosed properties.
Louisville’s foreclosure rate was one in every 73 residences, better than the rate of one in every 45 for the nation as a whole, according to RealtyTrac. Among 203 metro areas, Louisville had the 82nd lowest foreclosure rate.
More than half of all foreclosure activity last year was concentrated in five states: Arizona, California, Florida, Illinois and Michigan, RealtyTrac said.
Jones’ foreclosure, filed by HSBC Mortgage Services in November, has not been scheduled for a sale yet, but that could come up for a court-ordered sale in a matter of months, as Jones says she doesn’t have the $8,407 the bank is asking to put the loan back on track.
Once a foreclosure notice is received, a process that could take at least six to eight months gets started, said attorney Stuart Pope, advocacy director at the Louisville Legal Aid Society.
Before a homeowner can be forced out of the house, the lender must show it owns the loan and that the homeowner has defaulted on payments before a judge orders a sale through the commissioner’s office. All the while, the homeowner can negotiate a payment plan with the bank and potentially save the house, or buy time by fighting the proceedings in court.
The pace of foreclosures in Jefferson County has been rising for at least five years, and the court now handles nearly six times the number of cases it did in 2000, the earliest year for which statistics were readily available.
There are, however, some signs that foreclosures might finally slow down this year, Halbleib said.
While the court handled about 200 cases during each bi-monthly sale last year, the docket is looking much lighter lately, with 179 scheduled for Jan. 18, 108 for Feb. 1 and 83 for Feb. 15.
RealtyTrac said there was a big slow down in foreclosures nationally at the end of the year as shoddy documentation practices were revealed at big banks. Last week, the highest court in Massachusetts ruled for homeowners in a closely watched case involving wrongful foreclosures by U.S. Bancorp and Wells Fargo & Co.
But in Jefferson County, “I really can’t say that I have seen many of those cases,” Halbleib said, adding that the slowdown could be related to more run of the mill factors like homeowners working out deals with banks or filing bankruptcies to stop foreclosure sales.
If the slowdown continues, she said, “I think we will see at least a small decline for 2011. …The trend is certainly not up.”
Jones’ foreclosure, filed by HSBC Mortgage Services in November, could come up for a court-ordered sale in a matter of months, as Jones says she doesn’t have the $8,407 the bank is asking to put the loan back on track.
Rather than selling her house at auction, HSBC has offered Jones $2,500 in “relocation assistance” if she moves out, leaves the property in good condition and either sells the house at a steep discount with HSBC’s approval or hands over the title.
Jones, 42, bought the 1,454-square-foot house in 2006 for $69,900 with nothing down and a fixed interest rate of 9.99 percent, according to court and property records. The loan came through Decision One Mortgage, a unit of HSBC that made loans to those with weaker credit. HSBC shut down Decision One in 2007.
Jones said she first fell behind when she lost her job as a customer service representative in 2008. She found a job about two months later as a caretaker for disabled people, but her salary went from about $15 an hour to $11, she said.
Her husband was also jobless for about a year and now works part-time, she said.
For about six months, HSBC lowered Jones’ payment from $612 a month to about $400, but in July the bank asked for $8,407 — the amount it says it advanced for Jones in insurance, property taxes and the bank’s cost of making sure the property is maintained — to keep the loan in good standing.
HSBC spokesman Neil Brazil declined to comment on Jones’ case, but he sent a statement saying the bank considers foreclosure a “last resort” and helps homeowners in exchange for an orderly turnover of the property.
Other homeowners find it more difficult to communicate with their banks, housing counselors say.
Azari Cardoso and Yusimy Rossi, for example, have been trying for months to get a loan modification from US Bank after falling behind at least $6,629, when fees are included, on their house off Indian Trail in the Newburg area.
Cardoso and Rossi are Cuban immigrants who said they were laid off as welders at the Jeffboat shipyard in Jeffersonville, Ind., in 2009. Rossi was called back last year, giving the couple enough income to make them good candidates for a payment plan that would keep them in the house and work off the debt over a longer term, said Dan Farris at the Housing Partnership, their counselor.
But several phone calls and faxes of their documentation, a deal has yet to come through.
“It’s certainly is part of the frustrating process that a lot of homeowners experience,” Farris said.
Their house, which they bought for $126,514 in 2008 but was appraised at $115,000 last year, was on the foreclosure docket in August and October but withdrawn by the bank each time as it continued to consider the couple’s paperwork.
Lisa Clark, a Madison, Wis.-based spokeswoman for US Bank, said the bank wants to avoid foreclosure as much as Cardoso and Rossi do.
“We are, as we speak, working on the loan modification papers for them,” she said Wednesday.
This month Cardoso and Rossi resumed making payments of $947 a month so as not to fall more than a year behind, which would make them ineligible for a federal program that gives lenders an incentive to avoid foreclosure.
But it’s risky to keep paying the mortgage once a foreclosure is started, Farris said, in case the house is sold anyway. Usually lenders stop accepting payments after the process begins.
Clark said the payments are necessary for the couple to show the bank that a modification would work. “You have to demonstrate some income and consistency to pay something on the mortgage,” she said.
Cardoso, who speaks broken English, said for now he’s just glad the house — where they live with their three children — is no longer on the foreclosure docket.
“I am sleeping better,” he said.
Reporter Chris Otts can be reached at (502) 582-4589.
Report Says Excessive Risk Remains After Bank Bailout
For more: http://nyti.ms/g4viu3
Citigroup, the giant financial services company bailed out by the government in November 2008, is still too big to be allowed to fail, a situation that could make future bailouts of big banking companies a necessity, a report by a government watchdog said Thursday.
For more: http://nyti.ms/g4viu3
Citigroup, the giant financial services company bailed out by the government in November 2008, is still too big to be allowed to fail, a situation that could make future bailouts of big banking companies a necessity, a report by a government watchdog said Thursday.
Auditors See Rising Defaults in Rural Loans
For more: http://nyti.ms/ieyrrX
Although the auditors looked at only a tiny sample of the 133,053 loan guarantees made in 2009, they estimated that tens of thousands might have been done improperly and warned that a wave of defaults might be looming.
For more: http://nyti.ms/ieyrrX
Although the auditors looked at only a tiny sample of the 133,053 loan guarantees made in 2009, they estimated that tens of thousands might have been done improperly and warned that a wave of defaults might be looming.
Thursday, January 13, 2011
In their fight with banks over mortgage losses, investors get on borrowers' side
For more: http://wapo.st/eoKQQ8
The fight between big banks and investors who lost a fortune on mortgage-backed securities is shifting from private litigation to the public arena.
For more: http://wapo.st/eoKQQ8
The fight between big banks and investors who lost a fortune on mortgage-backed securities is shifting from private litigation to the public arena.
Tax Refunds Move to Debit Cards
For more: http://bit.ly/e5lZSF
The U.S. Treasury Department plans to launch a pilot program Thursday to deliver tax refunds through prepaid debit cards, an effort to cut the expense of paper checks and aid lower-income taxpayers who don't have bank accounts.
For more: http://bit.ly/e5lZSF
The U.S. Treasury Department plans to launch a pilot program Thursday to deliver tax refunds through prepaid debit cards, an effort to cut the expense of paper checks and aid lower-income taxpayers who don't have bank accounts.
Fed survey: US economy ends 2010 on strong note
For more: http://bit.ly/9qWTDa
Still, risks loom. Declining home prices and millions of foreclosures are depressing housing markets around the country, the survey said.
For more: http://bit.ly/9qWTDa
Still, risks loom. Declining home prices and millions of foreclosures are depressing housing markets around the country, the survey said.
Wednesday, January 12, 2011
Fees To Expect from VA Loans
For more: http://bit.ly/i2fyOw
VA-eligible borrowers may wonder if fees will be charged with their VA home loans and how much cash they should bring to closing. There are fees associated with all mortgages, and VA home loans are no exception.
For more: http://bit.ly/i2fyOw
VA-eligible borrowers may wonder if fees will be charged with their VA home loans and how much cash they should bring to closing. There are fees associated with all mortgages, and VA home loans are no exception.
Seventh Person in Mortgage Fraud Conspiracy Pleads Guilty
For more: http://bit.ly/eK9eEn
The last of six family members charged with operating a mortgage fraud conspiracy between 2004 and 2009 pled guilty in United States District Court. One of their employees has also pled guilty to participating in the conspiracy.
For more: http://bit.ly/eK9eEn
The last of six family members charged with operating a mortgage fraud conspiracy between 2004 and 2009 pled guilty in United States District Court. One of their employees has also pled guilty to participating in the conspiracy.
Tuesday, January 11, 2011
Getting More Help With Your Down Payment
For more: http://bit.ly/iadKhL
A growing number of state and local governments are now offering what are called "down payment assistance programs," grants or low- and no-interest loans to first-time buyers or those who haven't owned a house in a few years. The number of programs, now somewhere around 1,000 nationally, has increased 3% to 5% in the last six months alone, estimates Marc Savitt, president of the National Association of Independent Housing Professionals, an advocacy group.
For more: http://bit.ly/iadKhL
A growing number of state and local governments are now offering what are called "down payment assistance programs," grants or low- and no-interest loans to first-time buyers or those who haven't owned a house in a few years. The number of programs, now somewhere around 1,000 nationally, has increased 3% to 5% in the last six months alone, estimates Marc Savitt, president of the National Association of Independent Housing Professionals, an advocacy group.
Downturn's Ugly Trademark: Steep, Lasting Drop in Wages
For more: http://bit.ly/fFJKIp
Many laid-off workers who are finding jobs today are taking pay cuts or settling for part-time work, sometimes taking jobs far below their skill levels.
For more: http://bit.ly/fFJKIp
Many laid-off workers who are finding jobs today are taking pay cuts or settling for part-time work, sometimes taking jobs far below their skill levels.
Judges Berate Bank Lawyers in Foreclosures
For more: http://nyti.ms/f8BfR0
With judges looking ever more critically at home foreclosures, they are reaching beyond the bankers to heap some of their most scorching criticism on the lawyers. In numerous opinions, judges have accused lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks.
For more: http://nyti.ms/f8BfR0
With judges looking ever more critically at home foreclosures, they are reaching beyond the bankers to heap some of their most scorching criticism on the lawyers. In numerous opinions, judges have accused lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks.
Monday, January 10, 2011
Make Social Security tax break count by saving, paying off debt
For more: http://bit.ly/eQhhEY
For this year only, Americans will see bigger paychecks, thanks to a 2-percentage-point cut in their portion of the payroll tax for Social Security.
For more: http://bit.ly/eQhhEY
For this year only, Americans will see bigger paychecks, thanks to a 2-percentage-point cut in their portion of the payroll tax for Social Security.
Will bigger paychecks bring a better economy?
For more: http://wapo.st/e2mBCU
As a key piece of President Obama's signature tax-cut package begins boosting paychecks this month, American workers will confront a critical question that could determine the pace of country's economic recovery: Spend or save?
For more: http://wapo.st/e2mBCU
As a key piece of President Obama's signature tax-cut package begins boosting paychecks this month, American workers will confront a critical question that could determine the pace of country's economic recovery: Spend or save?
More Bank Reforms Needed, Economists Say
For more: http://bit.ly/h52byp
Global financial reforms that have drawn howls from bankers aren't nearly enough to avert another disaster, said academic economists at the annual meeting of the American Economic Association.
For more: http://bit.ly/h52byp
Global financial reforms that have drawn howls from bankers aren't nearly enough to avert another disaster, said academic economists at the annual meeting of the American Economic Association.
Sunday, January 9, 2011
When a Little Imagination Sells a Home
For more: http://nyti.ms/dFfT77
IN the photo on realtor.com, there is a settee to the left of a carved wood-and-stone fireplace, a velvet-upholstered armchair to the right. There are leather-bound books on the built-in shelves, and linen-shaded accent lamps illuminating an oak-paneled ceiling, plaster wall medallions, and royal crests and figures set into stained-glass windows and doors.
For more: http://nyti.ms/dFfT77
IN the photo on realtor.com, there is a settee to the left of a carved wood-and-stone fireplace, a velvet-upholstered armchair to the right. There are leather-bound books on the built-in shelves, and linen-shaded accent lamps illuminating an oak-paneled ceiling, plaster wall medallions, and royal crests and figures set into stained-glass windows and doors.
When Mortgage Rate Locks Expire
For more: http://nyti.ms/igZtcT
AS mortgage rates have edged higher, many borrowers have been locking in loan rates for a home purchase or refinancing.
For more: http://nyti.ms/igZtcT
AS mortgage rates have edged higher, many borrowers have been locking in loan rates for a home purchase or refinancing.
Profits are Booming. Why Aren’t Jobs?
For more: http://nyti.ms/dPG6Zp
“Usually the business cycle is a rising-and-falling, all-boats-together phenomenon,” noted J. Bradford DeLong, an economics professor at the University of California, Berkeley, and a deputy assistant secretary for economic policy in the Clinton Treasury Department. “It’s quite a puzzle when you have this disjunction between profits on the one hand and unemployment.”
For more: http://nyti.ms/dPG6Zp
“Usually the business cycle is a rising-and-falling, all-boats-together phenomenon,” noted J. Bradford DeLong, an economics professor at the University of California, Berkeley, and a deputy assistant secretary for economic policy in the Clinton Treasury Department. “It’s quite a puzzle when you have this disjunction between profits on the one hand and unemployment.”
$2.6 Billion to Cover Bad Loans: It’s a Start
For more: http://nyti.ms/hbtbvg
BANK investors cheered the announcement last week that Bank of America would pay $2.6 billion to buy back mortgages it had improperly sold during the housing bubble to Fannie Mae and Freddie Mac, the beleaguered mortgage finance giants. It seemed a sweet deal for the bank, whose Countrywide Home Loans unit had peddled tens of billions of dollars in risky loans to the taxpayer-owned companies.
For more: http://nyti.ms/hbtbvg
BANK investors cheered the announcement last week that Bank of America would pay $2.6 billion to buy back mortgages it had improperly sold during the housing bubble to Fannie Mae and Freddie Mac, the beleaguered mortgage finance giants. It seemed a sweet deal for the bank, whose Countrywide Home Loans unit had peddled tens of billions of dollars in risky loans to the taxpayer-owned companies.
Facing Scrutiny, Banks Slow Pace of Foreclosures
For more: http://nyti.ms/g6lnHO
An array of federal and state investigations into the way banks foreclose on delinquent homeowners has contributed to a sharp slowdown in foreclosures across the country.
For more: http://nyti.ms/g6lnHO
An array of federal and state investigations into the way banks foreclose on delinquent homeowners has contributed to a sharp slowdown in foreclosures across the country.
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