Wells Fargo pays employee incentives for mortgage workouts
Wells Fargo ($30.59 -0.37%) installed an incentive program that pays its single-point-of-contact employees more if they reach some sort of workout in lieu of foreclosure. Mortgage servicers must install single points of contact for borrowers on the verge of foreclosure, based on federal regulator... Read More

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Existing home sales jump 4.3% in January, inventory level dips
Existing home sales on all single-family homes, townhomes, condos and co-ops rose 4.3% during the month of January, making it the third sales increase in the past four months, the National Association of Realtors said... Read More
Treasury shields HAMP dollars away from AG settlement
Mortgage servicers will not be able to use principal reduction tax dollars under the Home Affordable Modification Program as "credits" toward the foreclosure settlement with the attorneys general, a Treasury official said.... Read More