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Robo-Reality: Final Foreclosures Fall as Pipeline Swells
The number of new foreclosures in 2011 dropped nearly 40 percent, according to year-end numbers just released by Lender Processing Services; there is, however, little cause for celebration.
New Financial Crimes Unit Could Throw Wrench in ‘Robo’ Settlement
President Obama announced he was ordering the U.S. Attorney General to create a “Financial Crimes Unit,” its number one task being to go after the banks for faulty mortgage originations and securitizations.
President Obama Proposes Mortgage Refinances for ‘Responsible Borrowers’
After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are current on their mortgages, regardless of who owns their loan; the catch is that this one has to go through Congress.
State of the Union Preview: Housing and Fairness Don’t Connect
If the theme of tonight’s State of the Union address is fairness, then President Obama would be wise to steer clear of housing; most of the proposals to fix the nation’s still struggling real estate market are intrinsically unfair to a large majority of Americans.
Foreclosure Investors are Double-Edged Sword
The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts.
‘Robo’ Foreclosure Settlement Turns Political
If there is a deal, beyond the politics, it could have a larger effect on the state of the housing market and its recovery.
Bulk Foreclosure Sales Could Cause Bigger Bank Write-Downs
As government, federal regulators and big-money private investors try to figure out a plan for bulk sales of foreclosed properties, big banks are already making deals, but they are few and far between.
Government Set to Sell Foreclosures in Bulk
The Obama Administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.
