Progressive Group Files Ethics Complaint Against Rep. Issa
Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, is the subject of a complaint filed with the House...
FHFA Confirms It’s Looking At HARP ‘Frictions’
On the heels of President Obama's congressional address last week, which referenced the administration's goal of easing refinance terms for underwater borrowers, two...
Guarantees, Refis And Counseling On Congressional Agenda This Week
Committees in both chambers of Congress will hold hearings this week on mortgage-related matters. The ceremonies kick off Tuesday, with a Senate Banking...
Report: Mortgage Fraud Rose In Q2
Mortgage fraud risk grew 27% in the second quarter, according to MortgageDaily's Second-Quarter 2011 Mortgage Fraud Index. Although showing an increase over first-quarter...
Fannie Mae: Consumer Pessimism Grew In August
Consumer confidence took a turn for the worse in August, with 78% of Americans believing the economy is headed in the wrong direction...
Obama: Refi Plan Is In The Works
In outlining his jobs plan before a joint session of Congress last night, President Obama broadly signaled his intent to help more American...
Bank Consolidation In Washington
Spokane, Wash.-based AmericanWest Bank has announced it will acquire Viking Bank. Pursuant to the terms of the transaction, Viking Financial Services Corp., the...
Fed Beige Book Details Weak Real Estate Environment
Residential real estate activity remained weak overall throughout the Federal Reserve's 12 districts, according to the latest release of the Fed's Beige Book....
HUD Freezes Cherokee Funds Over Freedmen Controversy
The U.S. Department of Housing and Urban Development (HUD) has frozen its funding to the Cherokee Nation, citing an Aug. 22 decision by...
Rand Paul Seeks No Confidence Vote Against Geithner
Sen. Rand Paul, R-Ky., has introduced a resolution calling for a vote of no confidence against Treasury Secretary Timothy Geithner, citing the secretary's...
FHFA Clarifies Lawsuits, Pins MBS Losses On Sellers
The Federal Housing Finance Agency (FHFA) took steps Tuesday to clarify the lawsuits it filed against financial institutions last week on behalf...
Cordray: Litigation Can Be ‘Needlessly Acrimonious’
As director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray (pictured left) would rely on supervisory tools to...
Mortgage Applications Decrease 4.9%
Mortgage applications fell 4.9% last week from one week earlier, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. Even though...
Bank Of America ‘De-Layers’ Operations With Personnel Moves
Project New BAC steamed ahead Tuesday, as Bank of America CEO Brian Moynihan announced several changes to the company's management. The personnel changes,...
Sen. Shelby: Cordray’s Nomination Is D.O.A.
The ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs has restated that today's confirmation hearing for Richard Cordray...
FHFA Targets 17 Firms In Lawsuit Blitz
The Federal Housing Finance Agency (FHFA) filed lawsuits on Friday afternoon against 17 financial institutions, certain of their officers and various unaffiliated lead...
Fed’s Duke Calls For Solutions To Refi Impasse
Lenders' and mortgage insurers' risk-based pricing strategies are hindering borrowers' ability to refinance their mortgages, Federal Reserve Board Governor Elizabeth A. Duke said...
NYT: FHFA To Sue A ‘Dozen Banks’ Over MBS Violations
The Federal Housing Finance Agency (FHFA) is preparing to sue a dozen major banks for allegedly misrepresenting loans that were securitized and sold...
RHFC Offers Loan Program For Hurricane Irene Victims
Parsippany, N.J.-based Residential Home Funding Corp. (RHFC) is now offering a special loan program to assist homeowners who are victims of Hurricane Irene....
HUD Awards $122M In First Round Of Implementation Grants
The U.S. Department of Housing and Urban Development (HUD) has awarded a combined $122 million to housing agencies in Boston, Chicago, New Orleans,...