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DEJA VU: "I think if one robotically affixes signatures of people who may not have even reviewed the document, it's fair to say it's robo-signing," said the Justice Department's Clifford J. White 3rd.
The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.
Eric Grover is principal at Intrepid Ventures.
A new book by the American Enterprise Institute's Peter Wallison reveals how a government push to lower credit standards brought about the housing crisis — and why a new effort to expand homeownership could inadvertently set the stage for a fresh disaster.

But derivatives that magnified their performance woes were the bigger culprit, according to a new book by investor Howard Hill, who created models for collateralized mortgage obligations before the meltdown.

It's not just about cutting lawns and patching holes. To convey a foreclosed property into the Department of Housing and Urban Development's ownership, servicers are on the hook for every last detail of a vacant house. Here are five key pieces of the preservation puzzle.

"There shouldn't be a need for these kinds of programs," said FHFA Director Mel Watt, referring to loss mitigation programs like HARP and HAMP.
The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.

Since one out of every five households belongs to an HOA, lenders and servicers must understand the necessary rules and regulations and exercise extreme caution when processing these delinquent properties.
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