From the monthly archives:
February 2011
Statement by Michael J. Williams, President and Chief Executive Officer, on the Bank of America Agreement – Feburary 11, 2011 – Bank Owned Homes / Foreclosures
Fannie Mae has reached an agreement with Bank of America, N.A., and its affiliates — BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. — to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by affiliates of Countrywide Financial Corporation. Bank [...]
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Ruling May Void Thousands Of Foreclosures!
The Massachusetts Supreme Judicial Court today upheld a contentious land court ruling that puts in question the ownership of hundreds, possibly thousands, of foreclosed properties in the state. The ruling challenges the way lenders have traditionally foreclosed on properties — without having all the paperwork in place at the time a home is seized. It [...]
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No End To High-End Foreclosures Eyed For 2011
In 2011, how do you think the pace of defaults and foreclosures will fare in California and Orange County in particular? I think foreclosures and defaults will stay steady throughout next year. They will keep pace with the last few years. The financial institutions will bring on more product when the market can absorb the additional inventory. [...]
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