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Three major US banks sued for deceptive foreclosures

… of the private electronic mortgage registry, the Mortgage Electronic Registration Systems (MERS … . “Once the mortgages went sour, these same banks brought foreclosure proceedings en … Merscorp to conduct improper foreclosures and resale of mortgages while not owning … Go to Source





Obama urges passage of US mortgage relief

… having trouble paying mortgages. "In order to lower mortgage payments for … a year. It will simplify mortgage disclosure forms, so people can … support to help those facing foreclosure to stay in their homes … a government-led effort to make foreclosed properties that cannot be sold … Go to Source





Foreclosure Settlement Will Settle Nothing

… to address their foreclosure procedures and reduce principal on mortgages, might not grant them any real immunity from future mortgage … use of Mortgage Electronic Registration System or MERS, an electronic mortgage database … Go to Source





News In Brief: Chevron won’t apologize, foreclosure suit in N.Y.

… . N.Y. sues banks over foreclosure effort New York's … mortgage registry that he said puts homeowners at a disadvantage in foreclosures … over their use of the Mortgage Electronic Registration Systems, or MERS … to provide the authority for foreclosures when there was none. — … Go to Source





Obama urges passage of mortgage relief

… having trouble paying mortgages.   "In order to lower mortgage payments for … a year.   It will simplify mortgage disclosure forms, so people can … support to help those facing foreclosure to stay in their homes … a government-led effort to make foreclosed properties that cannot be sold … Go to Source





Ringleader of mortgage fraud scheme sentenced to 6-year term

… mortgage business again. Hudalla was the CEO and co-owner of Enzo Mortgage … to October 2007, Enzo Mortgage employees wrote false mortgage loan applications, claimed … into foreclosure. The crimes involved $2.2 million in fraudulently obtained mortgages … Go to Source





Seven Questions Begging to Be Answered Before a Foreclosure Settlement Is Reached

… and the impact of ongoing foreclosures. Despite a favorable rent to … is a simple explanation. With foreclosures and the so-called shadow inventory … havoc for our economy, the mortgage securities markets, and it will … for a massive write-down of mortgages — thereby preventing an economic catastrophe … Go to Source





Why foreclosure investors are double-edged sword for economy

… ." That is precisely what mortgage servicers want. "While investor … buyers are eliminated because of mortgage approval or timeline problems,… a common reason for mortgage denials. Most mortgage financing timelines are now … among industry analysts that bulk foreclosure sales would push home prices … Go to Source





A Mortgage Tornado Warning, Unheeded

… , and how far back, our mortgage and foreclosure problems really go. “It … institutional practices that concealed fraudulent foreclosures.” A spokesman for Fannie Mae … foreclosures in 2010. “We want to prevent foreclosure whenever possible, but when foreclosures … Go to Source





What happens when your house is foreclosed upon?

… number of foreclosed properties.  Rounding out the Top 10 foreclosure states so … is foreclosure?  Foreclosure is a legal process by which a bank, mortgage company … foreclosure is the result of non-payment of the mortgage (including second mortgages and … Go to Source