Mortgage Loan Modification News and Views


On this page you will find all of the major headline news and breaking news about Loan Modification and the Home Affordable Modification Program. we've set up an automatic news update system for you here, that will regularly update with the latest information on a number of topics affecting Loan Modification Programs and Servics. Each topic is identified below. The news is gathered by Google from over 4,000 news resources from all over the world.

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Avoiding Foreclosure, Short Sales, Mortgage Modification



Home Affordable Programs, HAFA, HAMP, HARP, UP




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Despite Robo-signing Settlement MA AG Coakley’s Suit Goes Forward Not rated yet
In December, 2011 Mass Attorney General Martha Coakley filed suit against five national banks in connection with their roles in allegedly pursuing illegal …

Robo-singing Settlement May Boost Short Sales Not rated yet
The government's $25 billion settlement with the nation's five biggest mortgage servicers over so-called "robo-signing" practices could boost short sales, …

Robo-Signing Settlement Finalized Not rated yet
The federal government and a coalition of state Attorneys General have reached a $25 billion settlement with the nation’s give biggest mortgage servicers …

Billions Of Bailout Dollars Meant For Struggling Homeowners May Pay Down Deficit Instead Not rated yet
With housing prices dropping sharply, and foreclosure filings against more than 1 million properties in the first half of this year, the Obama administration …

U.S. Banks Reportedly Offered Deal On State AG’s Robosigning Claims  Not rated yet
Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities …

Federal Regulator Sues Big Banks For Losses Over Subprime Bonds Not rated yet
A bruising legal fight pitting the country’s most powerful banks against the full force of the United States government began Friday, as federal regulators …

Lack of Equity Can Derail Attempt To Refinance Mortgage Not rated yet
With mortgage interest rates hovering around 50-year lows, refinancing is an appealing prospect for many homeowner. Taking nervous energy and using it …

Number Of Short Sales On The Rise Not rated yet
Short sales are increasing as a percentage of home sales in many states, helping some neighborhoods and homeowners avoid the more devastating impacts of …

BOFA, Chase Again Denied Incentives Over HAMP Failures Not rated yet
The Obama administration on Thursday again publicly slapped Bank of America and JP Morgan Chase for their efforts to modify troubled mortgage loans, announcing …

Non Government Loan Modifications Reach 5 Million Mark Not rated yet
Banks and mortgage servicers not associated with the government’s Making Homes Affordable Program have made more than 4 million mortgage modifications …

Fed Launches New Formal Enforcement Action Against Goldman Sachs To Review Foreclosure Practices  Not rated yet
The Federal Reserve Board on Thursday announced a formal enforcement action against the Goldman Sachs Group, Inc. and Goldman Sachs Bank USA to address …

Fed Launches New Formal Enforcement Action Against Goldman Sachs To Review Foreclosure Practices  Not rated yet
The Federal Reserve Board on Thursday announced a formal enforcement action against the Goldman Sachs Group, Inc. and Goldman Sachs Bank USA to address …

Banks Can Turn Around The Real Estate Market Not rated yet
There are 18.4 million homes or roughly 13% of homes vacant in the United States, a substantial portion of them have been so for over a year, and if a …

Fannie Mae Updates Rules On Delinquent Loans Not rated yet
Fannie Mae recently rolled out new rules that require home loan servicers to communicate more directly with borrowers who have fallen behind on mortgage …

At Bank Of America, More Incomplete Mortgage Docs Raise More Questions Not rated yet
Fortune Magazine examined hundreds of foreclosure documents to determine the validity of mortgage securitizations after Bank of America debunked testimony …

Even After Mortgage Modification, Shoddy Bank Practices Hurt Homeowners Not rated yet
Many homeowners have been granted a hard-fought mortgage modification only to have their mortgage company effectively pull a bait and switch. The problems …

Foreclosure Settlement Divides State Attorneys General Not rated yet
As state attorneys general continue their months-long settlement negotiations with the nation’s largest banks over widespread problems in foreclosure practices, …

Foreclosure Homes Account for 28 Percent of 2011 First Quarter Sales Not rated yet
RealtyTrac® has released its Q1 2011 U.S. Foreclosure Sales Report™, which shows that sales of bank-owned homes and those in some stage of foreclosure …

The Foreclosure-Prevention Program That Works Not rated yet
A program in Pennsylvania is being lauded for being simpler, cheaper and more effective than the federal HAFA program. It's called the Pennsylvania …

Housing Prices Dip Below March 2009 Lows -Research Firm Says We're in a Double-Dip Housing Recession Not rated yet
We are officially in a double-dip housing recession.

A report from Clear Capital shows the average U.S. home price nationwide has dipped below the …

Critical Signs in Foreclosure Talks Not rated yet
Advocates of tougher sanctions accuse federal banking regulators, including the Office of the Comptroller of the Currency and the Federal Reserve, with …

How Long Does Foreclosure Take In Massachusetts? Not rated yet
In the state of Massachusetts, the most common procedure that lenders use when they foreclose on a homeowner is called a non judicial foreclosure which …

What Happens During a Foreclosure? Not rated yet
While the process varies from one state to another, generally the home foreclosure process takes from 6-9 months. What is clear is that foreclosure is …

RealtyTrac Unveils New Site Features to Quickly Determine Property Equity and Position of Outstanding Loans Not rated yet
RealtyTrac®) has unveiled new site features that help users quickly see the amount of equity — or negative equity — in a property based on its estimated …

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Investigators Say Banks Illegally Foreclosed On Dozens Of Military Borrowers Not rated yet
Two of the nation's largest mortgage firms illegally foreclosed on the homes of "almost 50" active-duty military service members, according to a report …

Bank of America Expanding Mortgage Modification Centers Not rated yet
Bank of America Corp. continuing its efforts to deal with homeowners struggling to pay their mortgages, will open 28 offices across the country in the …

House Votes to Kill Mortgage Aid Plan Not rated yet
On the same day as new figures showed the American real-estate market hitting new lows, the Republican-led House voted to kill the federal Home Affordable …

Killing HAMP Vote Called Destabilizing Not rated yet
Ending HAMP and other anti-foreclosure programs would further destabilize an already weak housing market, a top Treasury official told a Senate panel Thursday. …

Foreclosures Frozen in February Not rated yet
“Foreclosure activity dropped to a 36-month low in February as allegations of improper foreclosure processing continued to dog the mortgage servicing industry …

How Low Will Home Prices Go? Not rated yet
Today's home price report from S&P Case Shiller, which is based on the sale prices of transactions that closed in January, and is also a three month running …

Reasons a Loan Modification Might Be Denied Not rated yet
The main reasons people are turned down for loan modifications? Aside from the obvious – like not enough income to maintain even a modified payment schedule …

Ahead Of Mortgage Settlement Talks, Banks Offer To Change Their Ways Not rated yet
On the eve of planned between state and federal authorities and the nation’s largest mortgage servicers, the companies have submitted detailed changes …

Proposed Settlement Would Force Banks To Allow Short Sales For Delinquent Homeowners Not rated yet
The proposed deal among banks, state attorneys general and federal regulators is aimed at stabilizing the real estate market and helping underwater borrowers …

U.S. Treasury to Publicly Grade Mortgage Servicers Over Loan Modifications Not rated yet
The U.S. Treasury Department plans to publicly grade mortgage servicers on how well they respond to homeowners seeking reductions in payments as the government …

How a Loan Modification Attorney Could Help Make Your Mortgage Affordable Again Not rated yet
It’s no secret that millions of homeowners around the country are struggling to keep up with their mortgage payments, largely due to the massive number …

Mortgage Rates Drop Again Not rated yet
Freddie Mac this week released the results of its Primary Mortgage Market Survey®(PMMS®), which shows a drop in long-term fixed rates for the third consecutive …

U.S. Housing Market Predictions for 2011 Not rated yet
Home prices in some areas could decline another 6 – 9 percent in 2011. Benchmark mortgage rates (30-year fixed) will likely remain below 5 percent throughout …

Foreclosure Activity Increases 1 Percent in January Not rated yet
RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), released its U.S. Foreclosure Market Report™ for January 2011, which shows foreclosure …

Loan Modification Changes Likely Coming Not rated yet
State attorneys-general met Monday as talk of a settlement over banks’ foreclosure practices picked up that could see a big change in the way lenders …

HAMP Challenged in House Not rated yet
And, those changes couldn’t come at a better time. With 50,000 new foreclosures each week, "avoiding unnecessary foreclosures and encouraging loan modifications …

HARP Refinances Show Big Increase Not rated yet
Mortgage refinancing, as opposed to mortgage modifications, under the beleaguered Home Affordable Refinance Program jumped sharply in December, hitting …

Comments by Defendant Banks in the Massachusetts Supreme Court Ruling Not rated yet
The ownership of hundreds, if not thousands, of foreclosed properties in Massachusetts are likely to come into dispute following the Massachusetts Supreme …

Will Massachusetts Mortgage Ruling Boost House Prices? Not rated yet
A number of market watchers and housing analysts are saying that a recent real estate ruling by the Massachusetts Supreme Court could be a big boon for …

Massachusetts Takes Lead in Mortgage Modification Mandate Legislation Not rated yet
Voluntary efforts to modify troubled homeowners' mortgages have proved less than successful, with many consumers complaining that lenders seem to be uninterested …

2011 Improvements to Short Sale Process Not rated yet
Realtors from across the country report that the current short sales process is time-consuming and cumbersome, discouraging buyers who would otherwise …

HAMP Re-default Rate Low At One-Year Mark  Not rated yet
The U.S. Treasury Department says that permanent modifications executed under the Home Affordable Modification Program (HAMP) are performing well over …

U.S. Foreclosure Activity Decreases 21 Percent in November  Not rated yet

According to the study “U.S. Foreclosure Market Report™ for November 2010” released by RealtyTrac.com, foreclosure filings — default notices, scheduled …

New Survey Reveals 58 Percent of Americans Expect Housing Market to Recover After 2012  Not rated yet
American homeowners, -sellers and -buyers are tamping down their expectations for a swift recovery in the housing market and bracing themselves for a long, …

Comparison of Prices for Foreclosure and Non Foreclosure Homes  Not rated yet
Foreclosure homes accounted for 25 percent of all U.S. residential sales in the third quarter of 2010. The average sales price of properties that sold …

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OBAMA ADMINISTRATION RELEASES DECEMBER HOUSING SCORECARD  Not rated yet
The December Housing Scorecard features key data on the health of the housing market including:

• Foreclosure starts and completions dropped significantly …

Congressional Oversight Panel : U.S. Foreclosure-Prevention Program Fell Short  Not rated yet
The Treasury Department's primary foreclosure-prevention program has failed to live up to expectations and has suffered from a lack of "meaningful goals," …

Robo-Signing Scandal Reduces Mass. Foreclosures  Not rated yet
Massachusetts foreclosures fell 25 percent in November from the previous month, as banks delayed foreclosures in response to controversy about “robo-signing,” …

Dem Senators Want Major Changes to HAMP  Not rated yet
A significant chunk of the majority caucus in the Senate wants a radical overhaul of HAMP. Sen. Robert Menendez organized a total of 18 Democratic Senators …

Big Servicers Will Get First Foreclosure Deals  Not rated yet
The 50 state attorneys general probing US foreclosure practices will first settle with the five largest loan servicers, including Bank of America Corp. …

Home Affordable Foreclosure Alternatives Program New Efforts Being Made To Improve Short Sale Process  Not rated yet
Realtors from across the country report that the current short sales process is time-consuming and cumbersome, discouraging buyers who would otherwise …

Vacation Home Investors Flourishing in Frugal Economy  Not rated yet
With no recovery in sight for the U.S. housing market and recessionary fears lingering, one slice of the real estate industry is holding up remarkably …

Fannie Mae, Freddie Mac and the Coming Wave of Foreclosure Buybacks  Not rated yet
After two years in exile Fannie Mae and Freddie Mac are returning to center stage, ready to battle with the nation's lenders. The fight isn't over championship …

How The Mortgage System Works And How It's Been Rattled  Not rated yet
Foreclosures are setting off fresh tremors across the country but not because of any surge in unpaid loans. An elaborate system designed to assure good …

Mapping Voter Anger Foreclosure Rates By District  Not rated yet
If much of the electorate is driven by anger, much of that anger is driven by foreclosures.

Patchwork Nation.org (which contains a map of the U.S. …

Head Of Probe Says Victims Of Wrongful Foreclosure Should Get Compensation  Not rated yet
From a Q&A with Iowa Attorney General Tom Miller, who is heading a 50-state investigation into flawed and fraudulent foreclosure practices by big banks …

Figuring Out Foreclosures  Not rated yet
Home prices in 20 major U.S. cities turned south again in August, according to the S&P/Case-Shiller index, signaling that the troubled housing market may …

Flawed Paperwork Trail That Has Led To Reexamination Of Hundreds Of Thousands Of Foreclosure Cases  Not rated yet
Gretchen Morgenson, assistant business and financial editor and a columnist at The New York Times, explained during a recent broadcast on NPR:

For every …

Lawmaker Unveils Mortgage Modification Bill  Not rated yet
As many as 30 million U.S. homeowners would be able to refinance their mortgage at record low interest rates regardless of their credit situation under …

Mortgage Rates Hit New Low  Not rated yet
The average rate for 30-year fixed mortgages dropped to 4.19 percent, the lowest level on record dating back to 1971, mortgage buyer Freddie Mac said …

AG Martha Coakley Pressures Banks On Foreclosure Mess  Not rated yet
Attorney General Martha Coakley is asking four of the nation’s largest banks to halt all Massachusetts foreclosures, foreclosure-related evictions and …

Foreclosures In Massachusetts Rise Despite Loan Modification Programs  Not rated yet
Troubling news about a recent spike in foreclosure activity highlights the limitations of the federal government’s programs to bail out struggling homeowners. …

Homeowners: The Courtroom is Your Battlefield  Not rated yet
If you have received a Notice of Default or have a scheduled foreclosure sales date, it is imperative that you purchase a mortgage audit to identify predatory …

The Latest On The Foreclosure Mess  Not rated yet
Nancy Pelosi and other California Dems want an investigation of the way finance companies have been handling foreclosures. In a letter to Attorney General …

Citi Unit Must Defend Foreclosure Suit  Not rated yet
CitiFinancial Mortgage must defend a lawsuit over problems with loan documents, a federal appeals court ruled, in a widening controversy over the quality …

Lawmaker Unveils Mortgage Modification Bill  Not rated yet
As many as 30 million U.S. homeowners would be able to refinance their mortgage at record low interest rates regardless of their credit situation under …

HAMP Score Card Not rated yet
The US Housing Department and Urban Development released a housing report about how the Home Affordable Mortgage Program has helped almost 400,000 homeowners …

Foreclosures' Heavy Toll On Health Not rated yet
Nearly one in 10 American households with a mortgage are behind on their payments, according the Mortgage Bankers Association. In Oakland, the numbers …

Mortgage Modification Makers Get Poor Grades Not rated yet
Mortgage servicers get sloppier during the loan modification process than they do during the loan origination process, according to the recently released …

Mortgage Rates Headed Lower Not rated yet
Mortgage rates dropped to another historic low this week - the eleventh straight week without an uptick, according to Freddie Mac. Traditional 30-year …

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