Massachusetts Attorney General Martha Coakley has seen mortgage and foreclosure-related complaints quadruple in her state over the past two years. In fact, the category now overshadows all other types of consumer complaints. Coakley’s office counted 98…
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Obama Details Plan for Mass Refi Program Funded by Largest Lenders
President Obama on Wednesday outlined his proposal to allow millions more homeowners to cash in on today’s historically low mortgage rates. He issued a call to Congress to pass legislation to establish a streamlined refinancing program through the Fede…
Refi Claims Against Freddie Mac Expose GSEs’ Public-Private Conflict
Was the nation’s second largest mortgage company betting against mortgage refinancing? Allegations supporting the affirmative which were made public this week have prompted the U.S. Treasury to launch an official probe. Analysts say the story is less s…
Homeownership and Vacancy Rates Drop
The percentage of single-family homes sitting empty fell to 2.3 percent in the fourth quarter of 2011, according to data released Tuesday by the U.S. Census Bureau.
That’s down from 2.7 percent at the beginning of last year, and the lowest homeowne…
ALFN Appoints Interim CEO and President
The board of directors of the American Legal & Financial Network (ALFN) has announced the resignation of William LeRoy as CEO and president. DS News has learned that LeRoy now serves as founder and principal of Scottsdale, Arizona-based Phoenix Consult…
Robo-Signing Settlement Update: Friday is Cutoff for States to Join
State attorneys general have until Friday to sign on to a settlement that would resolve claims against the nation’s top five mortgage servicers surrounding documentation errors in foreclosure processing, according to a widely circulated media report. T…
HUD Approves IndiSoft Module for Direct Reporting by Counselors
IndiSoft announced Tuesday that the company has enhanced its RxOffice Premium Counselor Edition. The updated module has been approved by HUD to meet the reporting requirements of agencies participating in its Housing Counseling Program. It was created …
Appraisal Institute Offers Guidance on Distressed Comparables
The Appraisal Institute has released guidelines to instruct its members on how to deal with distressed sales and foreclosures when seeking comparables. According to the organization, some homeowners claim appraisers have undervalued their homes by rely…
Case-Shiller Records Continuing Declines in Home Prices
Data released Tuesday morning by Standard & Poor’s for its S&P/Case-Shiller home price index showed declines in November of 3.6 percent for the 10-city composite and 3.7 percent for the 20-city composite when compared to price levels from a year earlie…
Don’t Expect Rise in National Home Prices Until 2013: Fiserv
Fiserv is forecasting average U.S. home prices to fall by another 2.7 percent through the third quarter of 2012, before rising 3.8 percent by the third quarter of 2013. The company says the monthly mortgage payment for the median-priced U.S. home has d…
