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Federal Deposit Insurance Corp. Chairman Sheila Bair said the growing robo-signing scandal was symptomatic of the poor incentives that marred the securitization market, but she opposed a universal freeze on foreclosures.
October 14 -
A widely used third-party registry of mortgage assignments has found itself in the center of “foreclosure-gate,” amid allegations that its service is part of the greater issue of faulty or even illegal foreclosure practices plaguing the lending industry.
October 14 -
The Federal Housing Finance Agency expects servicers working for Fannie Mae and Freddie Mac to review affidavits before any foreclosure action, eviction, or REO sale.
October 13 -
Attorneys general from 49 states have agreed to coordinate efforts to investigate the nation's foreclosure mess and determine whether servicers violated state laws by cutting corners when filing their paperwork.
October 13 -
The Federal Deposit Insurance Corp. named Mark Pearce director of its newly-established Division of Depositor and Consumer Protection.
October 13 -
Wells Fargo Home Loans has agreed to review pending foreclosures where the borrowers are generally delinquent 10 months or more, according to a company spokeswoman.
October 12 -
Despite historically low mortgage rates, homeowners are having a hard time refinancing their loans, according to Federal Reserve Board staff.
October 12 -
The merger of the Office of the Comptroller of the Currency and Office of Thrift Supervision is shaping up to be the match made in regulatory hell.
October 12 -
State banking regulators and several attorneys general are forming a multi-state task force to investigate the nation's foreclosure crisis, zeroing in on whether servicers cut corners on their paperwork.
October 12 -
A Nigerian national who headed a multi-national identity theft and fraud ring, which involved stealing money from home equity lines of credit accounts, was sentenced to 69 months in prison.
October 12