Category Archives: Foreclosure Prevention

HPC Weighs in on Mortgage Enforcement Action

In response to the mortgage enforcement action announced today by the OCC, Federal Reserve and other regulators, John H. Dalton, President of the Housing Policy Council, issued the following statement: “The practices agreed upon today regarding mortgage servicing standards are a strong statement to ensure … Continue reading

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More to the mortgage story

The New York Times on Monday ran a piece by Yves Smith that unfortunately tells only a small part of the story when it comes to mortgages.

For example, Smith neglects to explain that, while the vast majority of homeowners in the United States are current on their mortgages, the foreclosures he rails against are happening to people who have not made any monthly payments for as long as two years. Continue reading

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S&P Report: Improved Lending Standards Make Sense

What is responsible for the current mortgage situation? As this Financial Times article points out, “Homeowners with little equity are more than twice as likely to fall behind on mortgage payments than those who put down at least a quarter of the purchase price.” Continue reading

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The short story on short sales: Industry working hard to prevent foreclosures

Paul Krugman is simply wrong when he says that the mortgage lending industry doesn’t want to do short sales. Continue reading

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HAMP helped prevent foreclosures

Did the efforts of the Home Affordable Modification Program help homeowners regain financial stability and rally private markets to prevent foreclosures?

According to those who testified before the Congressional Oversight Panel, the answer is yes. Continue reading

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Steve Bartlett: Update on Recent Events in Mortgage Industry

Steve Bartlett, President and CEO of the Financial Services Roundtable, recently updated member institutions about current events in the mortgage sector.

Much has happened in the past ten days in the mortgage and foreclosure world. While things are not as bad as the headlines, there remain some risks. Here is a quick summary. Continue reading

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Fast Facts on the Foreclosure Process

It is important to review the facts about the foreclosure process in the midst of recent reports about what the industry is doing.  FACT:  Homeowners who cannot afford their mortgage payments have several options to deal with the situation, such … Continue reading

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