Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification Program.
Values in the $900 billion non-agency market are slumping after soaring through early May as the Federal Reserves stimulus efforts drove investors to seek potentially higher returns and housing rebounded with the fastest gains in prices since 2006.
The owner of a California mortgage brokerage company was sentenced to three years in prison and ordered to pay more than $5.8 million in restitution for her role in a real estate-related wire fraud conspiracy.
These grants are expected to assist more than 1.6 million households in their efforts to find affordable housing, make more informed housing choices and avoid foreclosure.
PennyMac Financial Services, Inc. is now using a new platform developed by Quandis Inc. to enable the mortgage services firm to centralize the short sale process into one portal for multiple users.
Recent gains in home prices are unsustainable, but its premature to describe the market as being in a bubble as home values remain below their pre-recession peaks and prices are expected to continue to rise this year, said Standard & Poors.
Carver Bancorp Inc., New York had net income of $662 million for fiscal year 2013 and $687 million in 4Q13 as the company has rebounded from the real estate issues which impacted it during the downturn.
As many communities throughout the country continue to recover from the housing crisis, Freddie Mac is trying its best to help as many distressed borrowers as possible avoid foreclosure.
A DataQuick report revealed more counties experienced home price increases in May compared to the prior month, with a notable surge occurring in cities located within the Mountain Time Zone.
Deutsche Bank AG arranged a $1.5 billion credit line for Blackstone Group LP to buy single-family properties last week, after providing $2.1 billion to the firm earlier this year.
Consumer advocacy groups are calling on Michigan lawmakers to refrain from passing a new law that would strip certain homeowner protections during the foreclosure process and threaten the still fragile housing recovery.
Bank of America rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.
A father and son were sentenced in Newark, N.J., federal court for running a fraudulent foreclosure rescue company that obtained $4.4 million in mortgage loans.
Commercial real estate loan collateralized debt obligation delinquencies fell in May to 12.7% from 13.2% in April, according to a Fitch report
The GSE regulator is starting to notice the emergence of some rapidly growing nonbank servicers that have become Fannie Mae and Freddie Mac seller/servicers.