Mortgage Relief Project

Nearly Half of Modified Mortgages Current According to The OCC

Posted on March 28, 2012 by project

Mar 28 2012, 10:32AM The Office of the Comptroller of the Comptroller of the Currency today released their Mortgage Metrics Report for the Fourth Quarter of 2011, focusing on delinquency, foreclosure, and modification statistics for 31.4 million first-lien mortgages (about … Continue reading →

Trending now

MERS Wins Two Michigan Suits

Posted on March 28, 2012 by project

Mar 28 2012 The right of Mortgage Electronic Registration System, Inc. (MERS) to act as mortgagee of record for mortgage investors has survived two more court challenges, this time in separate decisions in the U.S. District Court for the Eastern … Continue reading →

Shadow Inventory Not Going Anywhere

Posted on March 27, 2012 by project

Mortgage Servicing News Year-over-year the total percent of borrowers who were 60 days or more delinquent-irrespective of delinquency status today-increased to 15.5% in January 2012, up from 14.3%. Also borrowers who passed the 60-day delinquency mark in the past but … Continue reading →

MBA: “Sand States” Becoming “HARP States” as Program Popularity Grows

Posted on March 24, 2012 by project

The Refinance Index decreased 9.3 percent from the previous week and the refinancing share of mortgage activity decreased to 73.4 percent of total applications from a 75.1 percent share during the week ended March 9. This is the lowest share … Continue reading →

Written Testimony of Under Secretary Lael Brainard before the Senate Committee on Banking, Housing, and Urban Affairs on “International Harmonization of Wall Street Reform: Orderly Liquidation, derivatives, and the Volcker Rule”

Posted on March 22, 2012 by project

3/21/2012 As Prepared for Delivery on March 22, 2012 WASHINGTON - Chairman Johnson, Ranking Member Shelby, and members of the committee, thank you for the opportunity to discuss our international financial reform agenda. In the wake of the financial crisis, … Continue reading →

Ginnie USDA MBS Shop Keeps Delinquency Rates Confidential

Posted on March 21, 2012 by project

March 21, 2012 Ginnie Mae’s Department of Agriculture Rural Housing Program has grown to an $80 billion guarantee program and has one of the best pricing among Ginnie’s mortgage-backed securities divisions. Its default rate also far exceeds the FHA’s, says … Continue reading →

HUD: Settlement Funds Critical For Counseling

Posted on March 20, 2012 by project

Congress has restored a housing counseling fund for the U.S. Department of Housing adn Urban Development after eliminating it in 2011 and at almost half of the million approved during the first two years of the Obama administration. Now HUD … Continue reading →

The Foreclosure Carnage Thus Far: 3.3 Million and Counting

Posted on March 19, 2012 by project

Mortgage Servicing News Since the start of the financial crisis in September 2008, mortgage companies and banks have foreclosed on roughly 3.3 million homes with no end in sight. According to new figures compiled by CoreLogic, servicers completed 69,000 foreclosures … Continue reading →

Banks Worsening Foreclosure Crisis By Overvaluing Homes: Study

Posted on March 17, 2012 by project

The Huffington Post | By Alexander Eichler Banks might be indulging a bad habit that could be worsening the foreclosure crisis, according to recent research from economists at the Federal Reserve Bank of Cleveland. The economists, Thomas Fitzpatrick and Stephan … Continue reading →

FICO Receives Support to Predict Strategic Defaults

Posted on March 16, 2012 by project

National Mortgage News FICO Receives Support to Predict Strategic Defaults Collateral Intelligence has signed on with FICO to provide valuation and support for the credit risk provider’s analytic solution that predicts borrowers who are at risk of strategically defaulting. As … Continue reading →