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Why are major housing markets going haywire?
OK, so, east of the Mississippi some of the nation's slowest markets are beginning to heat up. And in the West, the hot markets are beginning to cool. Here's the latest Trulia report on this peculiar activity.
PHH sinks as low interest rates destroy mortgage servicing
The first quarter's historically low interest rates already pulled down the performance of Nationstar Mortgage, Walter Investment and Ocwen Financial thanks to the impact of negative adjustments to the "fair value" of each company’s mortgage servicing rights portfolio, and now PHH Corporation is joining that unfortunate list as the company posted a loss in the first quarter.
Ringleader of 'largest mortgage modification scheme ever charged' found guilty
A federal jury needed less than a half hour to convict the ringleader of what the Manhattan U.S. Attorney’s Office called the “largest mortgage modification scheme ever charged” on multiple charges. The case stems from a scheme that defrauded more than 30,000 struggling homeowners out of $31 million.
Sperlonga, Equifax to record HOA payments for credit scores
These two companies are bringing change to credit reports as they begin reporting HOA payments, which previously were not reflected in the reports. Both companies talk about how it will benefit HOA’s, homeowners and the market.
George Will takes on #FannieGate, says GSEs 'should never have existed'
Well, it seems we can't go more than a few days without a prominent, national media personality commenting on the stability and standing of Fannie Mae and Freddie Mac, how the GSEs ended up in conservatorship, and what’s next. Last month, Rolling Stone’s Matt Taibbi weighed in. And now, no less than George Will has written about "#FannieGate."