BofA reaches $16.65B settlement over "toxic waste" mortgages

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
W S
Servicing / The Ticker

Underwater homeowners accept lower wages

/ Print / Reprints /
| Share More
/ Text Size+

People who are underwater on their home mortgages probably will accept "significantly" lower wages than other homeowners, according to a study published this month by the Federal Reserve Bank of Atlanta, Bloomberg reported.

The recent U.S. housing bust left many homeowners with mortgage debt larger than the equity value of their homes, says Fed Bank of Atlanta economist Chris Cunningham and Robert R. Reed of the University of Alabama.

 

Source: Bloomberg
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus