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Articles tagged with: Sheila Bair

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[30 Jan 2011 | 2 Comments | 2,220 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 …

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[23 Jan 2011 | One Comment | 3,821 views]
FDIC wants more loan modifications, fewer foreclosures

Here’s a newsflash — foreclosures are still plaguing the real estate and mortgage industries.
The amount of foreclosures in the nation has prompted Federal Deposit Insurance Company (FDIC) Chairman Sheila C. Bair to declare it is in the best interests of borrowers and lenders to pursue loan modifications.
We all know the story by now. People got in over their heads with either subprime or — in some cases — prime mortgages and the ramifications have  been severe. Entire neighborhoods stand nearly empty in some parts of the nation and home values …