Where's Watt?

Where's Watt?

FHFA scorecard should be marked tardy

Key MERS legal employees turn away from company

Company now under federal scrutiny

17% of homes with a mortgage seriously underwater

Share of underwaters continues slow decline

Items Tagged with 'Foreclosure'


Key MERS legal employees turn away from company

Company now under federal scrutiny
April 17, 2014
Now almost two decades after the creation of the Mortgage Electronic Registration Systems, the once under-the-radar company is back in the spotlight as a handful of executive-level employees leave.
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Marinosci Law Group announces West Coast expansion

April 14, 2014
This will be Marinosci Law Group's first office in California. Tye Merritt will serve as managing partner of MLG’s California division.
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Foreclosure sales drop to lowest level since 2007

Loan modifications remain steady
April 11, 2014
February’s foreclosure sales and starts dropped significantly from January’s totals to a level not seen since 2007. Those figures marked the lowest since HOPE NOW began recording data in 2007.
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Fannie Mae stops working with two Colorado law firms

Negative headlines included claims of foreclosure fee-padding
April 10, 2014
Fannie Mae has instructed servicers to cease referrals of new foreclosure cases to Aronowitz & Mecklenburg and the Castle Law Group and to transfer existing cases at those law firms to other firms.
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FHFA reaches settlement with City of Chicago over vacant property lawsuit

Settlement ends legal battle that began in 2011
April 8, 2014
The FHFA claimed that provisions of the Housing and Economic Recovery Act of 2008 superseded the city’s vacant and abandoned building ordinance and sued in federal court.
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Report: Fannie, Freddie foreclosure inspectors did terrible job

Inspectors turned in manipulated and fraudulent reports
March 25, 2014
A newly released report says that some pre-foreclosure inspections for Fannie Mae and Freddie Mac are the result of manipulated and fraudulent inspection reports. The in-field inspectors, in these select cases, relied on several dodgy methods to skip good, hard work.
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Dead homeowner keeps paying her mortgage for six years

Body discovered when her money finally runs out
March 7, 2014
Lenders advertise for automatic payments with incentives like extra credits, but there is one drawback — especially if no one will notice if you die.
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Mortgage servicers foreclosing on very different timelines

Rates can vary almost 200%
February 18, 2014
Cases with a Bankruptcy Discharge filing had an average foreclosure timeline of 448 days longer than cases without similar filings.
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New York Attorney General: Zombie property killer

Schneiderman wants twice the amount of land banks
February 14, 2014
The foreclosure process takes almost three years in New York. Tenants commonly abandon properties when they are foreclosed on, and Schneiderman says that the banks are best positioned to care for it.
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RealtyTrac: Monthly foreclosure filings reverse course, rise 8%

40th consecutive month of declines annually
February 13, 2014
Foreclosure filings reversed course, increased 8% to 124,419 in January from December, marking the 40th consecutive month where foreclosure activity declines on an annual basis.
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