FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

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Servicing / The Ticker

Oakland battles anti-foreclosure plan

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According to the Oakland Local, the Oakland City Council is debating whether it should support Richmond, Calif.'s out of the box anti-foreclosure proposal.

A resolution first offered by Council member Desley Brooks in two separate Rules Committee meetings last month was rescheduled for Nov. 19 following a motion by Kalb who said he still needed time to understand the intricacies of Richmond’s controversial plan to aid owners of underwater mortgages.

Tuesday’s arguments were rooted in a legal council procedure allowing a workaround by Brooks to finally get the Richmond foreclosure resolution on the council’s agenda. Council President Pat Kernighan referenced the maneuvering, saying, “The reason you are hearing discord because this item never went to committee.”

Source: Oakland Local
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