Tag Archives: mortgage

Fannie Mae’s South Florida Mortgage Help Center Celebrates One Year of Helping Area Homeowners Avoid Foreclosure

Posted on 24. Mar, 2011 by .

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Center Has Helped More Than 1,000 Customers Since Opening
More Than 60 Percent of Customers Received Retention Solutions That Allowed Them to Remain In Their Homes

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Fannie Mae and Freddie Mac chiefs could face charges

Posted on 18. Mar, 2011 by .

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The former chief executives of the US mortgage finance giants Fannie Mae and Freddie Mac could become the next senior figures facing fraud charges, as regulators pursue wrongdoing in the lead up to the credit crisis.

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Reverse Mortgage Defaults Increase at Alarming Rate

Posted on 24. Feb, 2011 by .

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FT. LAUDERDALE, FL –Over 30,000 homeowners with reverse mortgages in the United States are now in “technical foreclosure.” Reverse mortgages, which allow seniors over 62 years of age to remove equity from their homes, have come under renewed scrutiny as a result. In a 2010 study conducted by A New Horizon Credit Counseling, a nonprofit credit counseling firm, it was observed that reverse mortgages have worsened the financial woes of an increasing number of clients seeking help.

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Wells Fargo to send refunds to troops, veterans

Posted on 23. Feb, 2011 by .

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About 60,000 service members and veterans who have refinanced their Veterans Affairs Department mortgage loans through Wells Fargo, Wachovia and SouthTrust will receive refunds as the result of a $10 million settlement in a class-action lawsuit, a Wells Fargo official said.

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Wells Fargo Helps Mortgage Customers Facing Payment Challenges

Posted on 21. Jan, 2011 by .

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Wells Fargo & Company WFC announced today it is hosting a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. The two-day workshop — to which Wells Fargo has invited thousands of Northern California homeowners — will take place Feb. 10 and 11, from 9 a.m. – 7 p.m. at the Sacramento Convention Center, Exhibit Halls D and E, located at 1400 J Street in Sacramento, Calif.

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Bank of America, GMAC Suspend Foreclosures in Maine

Posted on 30. Nov, 2010 by .

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Nov. 24 (Bloomberg) — Bank of America Corp. agreed it won’t complete foreclosures in Maine and Ally Financial’s GMAC Mortgage unit said it will halt sales of foreclosed homes in the state, Maine Attorney General Janet T. Mills said.

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Mortgage Delinquencies Drop for Fourth Consecutive Month – Equifax

Posted on 30. Jun, 2010 by .

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ATLANTA, June 29 /PRNewswire-FirstCall/ — While consumer delinquency rates remain near historic highs across many businesses, those for auto, credit card and home equity loans continued their year-over-year decline in May, according to Equifax Inc.’s (NYSE: EFX) monthly Credit Trend Report. And for the fourth consecutive month, first or primary mortgage delinquencies decreased, though they remain higher than for the same months in 2009.

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New Regulations to Oversee Payday Lending

Posted on 29. Jun, 2010 by .

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LOS ANGELES, June 29 /PRNewswire/ — AboutPaydayLoans – In the aftermath of the subprime mortgage collapse, a new agency emerges with the initial goal of overseeing nearly all aspects of consumer finance in order to regulate and hopefully prevent another economic crisis. This new Consumer Financial Protection Bureau (CFPB), which was originally proposed to be a stand-alone “agency” as opposed to the approved bureau which lacks the same enforcement authority, is still going to change the current landscape of consumer credit options in more ways than we can currently predict.

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Bank of America Becomes Largest Mortgage Servicer to Join HOPE LoanPort(TM)

Posted on 04. Jun, 2010 by .

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WASHINGTON, DC, Jun 03, 2010 (MARKETWIRE via COMTEX) — HOPE LoanPort(TM), the groundbreaking new web-based housing counselor tool that streamlines submission of completed loan modification applications, announced today that Bank of America, the nation’s largest mortgage servicer, has agreed to use its proprietary technology to partner with non-profit housing counselors to assist homeowners with loan modifications.

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59 Percent of Homeowners With a Mortgage Would Not Consider Walking Away From Their Home

Posted on 27. May, 2010 by .

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SAN FRANCISCO – Trulia.com, smart real estate search to help you make better decisions, and RealtyTrac, the leading online marketplace for foreclosure properties, today released the latest results of an ongoing survey tracking home buyers’ attitudes towards foreclosures. The new online survey conducted on their behalf from May 10-12, 2010 by Harris Interactive® showed a notable decrease in consumers’ willingness to buy foreclosed properties compared to one year ago. Currently, 45 percent of U.S. adults age 18 and above are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 55 percent of U.S. adults age 18 and above surveyed online by Harris Interactive® between May 1-5, 2009.

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