Three surviving spouses of reverse-mortgage borrowers have filed a lawsuit against the Department of Housing and Urban Development. The case was filed by the American Association of Retired Persons. The suit argues that new rules on reverse mortgages are forcing elderly people out of their homes following the death of their spouse. View full post [...]
Posts Tagged ‘housing’
Lawsuit Challenges Revised HECM Policies
March 22nd, 2011 
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Posted in News 
Tags: american association of retired persons, Challenges, Department, department of housing and urban development, Development, HECM, housing, housing and urban development, Lawsuit, mortgage borrowers, Policies, reverse mortgages, Revised, Urban 
Comments Off$4B in ‘botched’ stimulus loans
January 8th, 2011 admin WASHINGTON — An internal Agriculture Department report says the feds may have given out more than $4 billion in stimulus housing loans to ineligible borrowers. A preliminary report from the USDA insp View full post on All Stories
Posted in News Tags: 'botched', Agriculture, agriculture department, Department, housing, housing loans, insp, News, preliminary report, report, stimulus, Washington Comments OffFHA Mortgagee Report
January 5th, 2011 admin The Federal Housing Administration is now requiring that a flood zone determination is obtained on all properties, according to Mortgagee Letter 2010-43. New information about implementation of new eligibility requirements was included in Mortgagee Letter 2010-38. Lenders now required to review the requirements of the Dodd-Frank act with negative-equity borrowers on all refinance cases, Mortgagee [...]
Posted in News Tags: Administration, dodd, eligibility requirements, Federal, federal housing administration, flood zone determination, Frank, housing, Letter, Mortgagee, negative equity, report Comments OffTougher lending norms for housing finance companies
December 28th, 2010 admin India’s housing regulator has tightened lending norms governing housing finance companies, a move likely to hurt borrowers across sectors, the agency said on its Website. The National Housing Bank has mandated housing finance firms to keep aside 0.4 percent of the total outstanding loans, excluding individual housing loans, by September 2011. View full post on [...]
Posted in News Tags: agency, borrowers, companies, Finance, finance firms, housing, housing finance companies, housing loans, India, lending, move, national housing bank, norms, regulator, tougher Comments OffCoalition says banks are violating lending rules
December 9th, 2010 admin LOS ANGELES – A national housing and consumer rights group alleged in a series of complaints to the U.S. Department of Housing and Urban Development that Bank of the West, MetLife Bank N.A. and other lenders are unjustly denying government-backed loans to borrowers with low credit scores. View full post on All Stories
Posted in News Tags: Bank, bank of the west, Banks, Coalition, consumer, department of housing and urban development, Group, housing, housing and urban development, lending, LOS ANGELES, metlife, national housing, rules, says, series, U.S . Department, violating Comments OffSecond Mortgages Trip Up Short Sales
November 27th, 2010 admin Real-estate agents, lenders and federal policy makers have pointed to short sales as one way to revive moribund housing markets while helping troubled borrowers avoid foreclosure. But second mortgages are tripping up many short-sale efforts. View full post on All Stories
Posted in News Tags: borrowers, foreclosure, housing, lenders, mortgages, policy, real estate agents, Real-estate, sales, Second, second mortgages, Short, Trip, way Comments OffLawsuit wave could hurt housing market: FDIC chief
October 25th, 2010 admin A top banking regulator says a wave of lawsuits from troubled borrowers who lost their homes to foreclosure could hurt the already-ailing housing market. View full post on All Stories
America’s property market: Home truths
October 21st, 2010 admin Preventing foreclosures won’t fix America’s housing mess. Encouraging banks to write down mortgages might AMERICA’S mortgage lenders are again at the centre of a scandal. This time the cause is not the recklessness of their lending, but the sloppiness with which they are dealing with the resulting defaults. Recent revelations suggest that many lenders rode [...]
Posted in News Tags: America, America's, barack obama, delinquent borrowers, fix, home, housing, legal niceties, market, mortgage lenders, Preventing, process, property, recklessness, truths Comments OffBomb threat made on Delhi athletes village
October 5th, 2010 admin New Delhi police are searching the Commonwealth Games village housing nearly 7,000 athletes after receiving a telephone call claiming a bomb had been placed there. View full post on All Stories
Posted in News Tags: athletes, Bomb, commonwealth, commonwealth games, Delhi, delhi police, housing, made, New Delhi, Police, receiving a telephone call, telephone, threat, village Comments OffBill Introduced To Ban Home Resale Fees
October 5th, 2010 admin For a while now, we’ve been covering attempts by some banker-types to get housing developers to add a resale fee to homes so that if and when you resell your house, you have to pay a percentage of the sale price back to the developer. Of course, the real plans is for the main company [...]
Posted in News Tags: Bill, capital partners, chunk, fee, Fees, home, home buyers, house, housing, housing developers, Introduced, Resale, upfront Comments Off
