Another state has joined the fight against using the Mortgage Electronic Registration System to process foreclosures.
New York sues banks over electronic mortgage system
(Reuters)
2012-02-04 05:50
Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
NY's Schneiderman sues banks in foreclosure effort
(AP)
2012-02-04 05:50
AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while saving banks over $2 billion.
Goldman to face mortgage debt class-action lawsuit
(Reuters)
2012-02-04 05:50
Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.
Fannie Mae Gains More Short-Sale Authority
2012-02-04 05:50
Several mortgage insurers have removed another barrier in short sales that could speed approval of short sales on Fannie-backed loans.
Mortgage Rates Hit New Lows Again
2012-02-04 05:50
Mortgage rates once again inched lower this week, lowering the cost of borrowing and increasing housing affordability.
Fannie Mae Gains More Short-Sale Authority
2012-02-03 19:50
Several mortgage insurers have removed another barrier in short sales that could speed approval of short sales on Fannie-backed loans.
Mortgage Rates Hit New Lows Again
2012-02-03 19:50
Mortgage rates once again inched lower this week, lowering the cost of borrowing and increasing housing affordability.
Analysis: Obstacles high for more mortgage prosecutions
(Reuters)
2012-02-03 05:50
Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.
Rate on 30-year mortgage falls to record 3.87 pct.
(AP)
2012-02-03 05:50
AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.