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Articles tagged with: robo-signing

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[5 Nov 2011 | 3 Comments | 3,426 views]
Lost a home in foreclosure? Keep an eye on that mailbox

After a few years of allegations of improper foreclosure procedures, the Federal Reserve System and the Office of the Comptroller of the Currency are offering homeowners who believe they were wronged in a foreclosure process the chance to have their cases reviewed.
Before getting into that review, it’s important to understand a bit of history surrounding the allegations that gave rise to the announcement from bank examiners. The federal government, state attorneys general started getting together last year in response to complaints about foreclosures in 2009 and 2010.
At issue was the …

Business, News, Real Estate »

[18 Dec 2010 | 2 Comments | 1,711 views]
Taking a hard look at residential mortgage servicing

The national Mortgage Bankers Association announced this month that it had launched a task force to examine residential mortgage servicing and make recommendations geared toward improving the system.
Why should you care? Because mortgage servicing has a major impact on everything from how much your mortgage payment is to the overall economy. Mortgage servicers have, in fact, been blamed by Fannie Mae and Freddie Mac for the so-called “robo-signing” controversy that led to all those questions about whether foreclosures were being done legally.
Anyone who has taken out a mortgage at one …

Business, News, Real Estate »

[30 Nov 2010 | 9 Comments | 4,123 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” …