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Articles tagged with: foreclosure crisis

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[21 Feb 2011 | One Comment | 1,565 views]
Letting the market work

After months of anticipation, the Barack Obama administration released a plan to reform the secondary mortgage market that is decidedly capitalist in approach.
Yes, the Obama administration has proposed putting together a secondary mortgage market that is primarily financed by private capital. That’s a bit of a departure from what we’ve had for the past few decades and is well worth discussing.
Here’s a fact to consider – over the past couple of decades, taxpayers have been tapped for over $500 billion to cover the government’s losses following one plan after another …

News, Real Estate »

[30 Jan 2011 | 2 Comments | 2,219 views]
FDIC speaks out on foreclosures

Last year, the national Mortgage Bankers Association and other industry insiders formed Council on Residential Mortgage Servicing for the 21st Century to take a look at the foreclosure crisis that’s hit the nation and to figure out how to both mitigate current problems and avoid future ones.
As anyone who follows the real estate industry knows, there were a lot of groups formed last year in the wake of questions over the legality of foreclosures. Most of them are government entities, but the Council on Residential Mortgage Servicing is different in …

Business, News, Real Estate »

[30 Nov 2010 | 9 Comments | 4,173 views]
Fannie Mae, Freddie Mac give green light to foreclosures

To muddle the foreclosure issue just a bit further, Fannie Mae and Freddie Mac told real estate agents last week to resume selling foreclosed properties.
Why’s that significant? Fannie Mae and Freddie Mac — the government sponsored enterprises (GSE) that have underwritten the majority of mortgages in the nation — had about 240,000 properties set for foreclosure at the end of September. It was about that time that Fannie and Freddie called for a moratorium on foreclosures due to concerns about the adequacy of court filings.
We’re talking about the so-called “robo-signing” …