WASHINGTON – The Obama administration will crack down on mortgage companies that are failing to do enough to help borrowers at risk of foreclosure, as part of a broad effort to boost participation in its mortgage assistance program. The Treasury …
Amid rising foreclosures and falling home prices, the Federal Housing Administration is proposing new rules to crack down on lenders and asking Congress for the authority to raise certain borrower requirements, all in an effort to reduce risk to its …
Washington, November 30 – Treasury Assistant Secretary Michael Barr said that servicers participating in the Home Affordable Modification Program (HAMP) have ‘not done a good job,’ given the low number of borrowers who have had their trial mortgage …
… a statement, Phyllis Caldwell, the new chief of the Treasury Department’s Homeownership Preservation Office, called the pace of trial modifications “encouraging.” But she added, “We now must refocus our efforts on the conversion phase to ensure …
White, a University of Arizona law school professor, added that they should feel no remorse or guilt in doing so. The new 52-page academic paper is titled “Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis …
Treasury Department officials said Monday they will step up pressure on the 71 companies participating in the government’s $75 billion effort to stem the foreclosure crisis. They will start this week by sending three-person “SWAT teams” to monitor …
The Treasury Department unveiled sweeping rules this week to help financially troubled homeowners who need to sell but can’t get a price high enough to pay off their mortgages. Homeowners will even get $1,500 to help cover moving costs. The plan is …
Some 650,000 borrowers have completed trial modifications under the Home Affordable Modification Program that was initiated by the Obama administration earlier this year. The $75-billion taxpayer-financed program is aimed at slowing the pace of …
The Treasury Department unveiled sweeping rules this week to help financially troubled homeowners who need to sell but can’t get a price high enough to pay off their mortgages. Homeowners will even get $1,500 to help cover their moving costs. The …
Top state prosecutors are in Phoenix this week to discuss the nation’s biggest law-enforcement issues. Cracking down on mortgage fraud and pushing more lenders to work with homeowners facing foreclosure is on their agenda. The National Association of …
