Wells Fargo Deals Major Setback to Administration Refinance Program

By: Monday March 19, 2012 3:32 pm

The Administration wants Fannie and Freddie to work with bank mortgage servicers to refinance Fannie/Freddie held mortgages at lower interest rates. That requires the servicers to cooperate, but one of the largest, Wells Fargo, just announced it wouldn’t work with mortgage serviced by others, a stand that could limit the effectiveness of the new HARP Refi programs.


California House Dems Call for Recess Appointment at FHFA

By: Wednesday January 11, 2012 10:00 am

There’s wide agreement President Obama will likely have to make more recess appointments if he wants to staff key positions, including the newly-created vacancy at the Office of Management and Budget, as Jack Lew has become White House Chief of Staff. The assumption here is that Republicans will react to recess appointments at the CFPB and the NLRB by refusing to confirm any other Presidential appointee. Now California Dems want a recess appointment for the FHFA.

Debating the Effectiveness of the Latest Administration Housing Initiative

By: Tuesday October 25, 2011 8:46 am

The President statement yesterday in Las Vegas on the Administration’s new refinancing initiative was circumspect about their claims. There’s a debate now about how effective and far reaching this will be, with some arguing it could have a significant economic effect, and others far more skeptical.

White House to Announce Fannie/Freddie Mortgage Refinance Plan

By: Monday October 24, 2011 7:45 am

The White House will announce that millions more underwater homeowners can take advantage of a refinancing program if their loan is owned or guaranteed by Fannie Mae or Freddie Mac. This is a plan the President announced as part of his American Jobs Act speech It will open up the Home Affordable Refinancing Program to everyone who’s current on their loan, regardless of how far underwater they are.

CNN Says Faster Foreclosures Are Solution to Mortgage Fraud

By: Thursday September 1, 2011 4:04 pm

Banksters have figured out that they can stall real solutions to the housing/foreclosure mess and eventually the congress will give them some kind of back door bailout. They are probably right.

Late Late Night FDL: Muppets meet harp virtuoso Johnny Cash

By: Friday January 28, 2011 10:00 pm

Johnny Cash & Miss Piggy, from Season 5 (1981) of ‘The Muppet Show’ Grab your popcorn, put your feet up on the seatback in front of ya, and aim your spitballs at the ushers please. This is Late Late Night FireDogLake, where off topic is the topic … so dive in. What’s on your mind?

Oh, NOW Banks Believe in Mortgage Modification?

By: Thursday June 3, 2010 6:10 pm

Many of the banks lack the proper paper trail to prevail in foreclosure and that judges are beginning to wake up to this, and sometimes even cancel mortgages outright, it is not surprising that the banks are beginning to realize that their own bad faith, their own shoddy dealing, their own rupturing of the social contract has put them in a position where they may not be in the driver’s seat on foreclosures much longer. No wonder the baks are starting to preach the gospel of mortgage modification.

Mortgage Modifications Part 6—You Cannot Ask Confirmed Carnivores to Preach the Vegan Gospel

By: Sunday April 4, 2010 4:00 pm

Bill collectors are NOT social workers, debt counselors or consumer advocates. They are bill collectors, they will eat you. Oh, they may call themselves “mortgage servicers”, but what does that mean? It means they collect the money from the homeowners.

Mortgage Modifications Part 2: Is HARP for You?

By: Monday March 1, 2010 4:00 pm

If the Home Affordable Refinance Program (HARP) is right for you, you’d better get crackin’ on refinancing; HARP expires in June 2010.

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