FHFA Has Yet to Approve Principal Reduction
When Melvin L. Watt took over as head of the Federal Housing Finance Agency, many expected him to swiftly move to enable principal reduction for underwater borrowers.
Proprietary Modification Volume Slows to Crawl
It's been at least five years -- and likely even longer -- since the number of proprietary loan modifications has been this low.
Nearly $14 Billion in TARP Funds Used for Housing
While the government has earned more than $16 billion from its investments in banks during the financial crisis, housing programs have so far cost it nearly $14 billion.
Servicers Modify More Mortgages
The latest monthly reading on mortgage modifications shows that residential loan servicers picked up the pace of activity.
Harassing Mortgage Calls Cost BofA Over $1 Million
A Florida couple has won a judgment of more than $1 million against Bank of America Corp. in a federal lawsuit accusing the lender of hundreds of harassing phone calls.
Changes to Servicing Rules Proposed
The Consumer Financial Protection is proposing a number of changes to the servicing rules and how distressed loans are handled.
Modification Volume Slows to a Crawl
Monthly loan modification activity has fallen to the lowest level in more than six years -- with government-supported volume slowing to a trickle.
Judge Tosses Most of Huge Jury Award Against PHH
A more than $16 million jury award against PHH Mortgage Services has been mostly thrown out by the judge in the case.
Ocwen Accused of Backdating Borrower Letters
Ocwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.
GSE Mods Ok On FL Loans Delinquent Over 2 Years
Florida borrowers who are more than two years past due on their government-sponsored enterprise mortgages will have an opportunity to modify their loans.