IRS Is Figuring Out New Ways To Tax Homeowners On Short Sales And Mods This letter from Michael Montemurro at the IRS to California Senator Barbara Boxer dated several months ago is making it’s way around the internet and is causing a mixed reaction from various groups. This letter is kind of shocking. The IRS […]
67 Percent Of Americans Say American Judges Don’t Follow The Law. Michigan Judges Are A Perfect Example Why People Don’t Trust The Judicial System Anyone involved in foreclosure defense will agree with this new poll released last week from Rasmussen. It basically says the majority of Americans don’t trust judges who sit on the bench. […]
GOP Senators Gives No Valid Reason To Oppose Watt GOP Senators today dealt a blow to President Barack Obama’s efforts to install his own nominee as regulator of Fannie Mae (FNMA) and Freddie Mac (FMCC), blocking an effort to confirm Representative Mel Watt to the post. Republicans cited misgivings about the qualifications of Watt, a North Carolina Democrat, to lead the Federal […]
John Gittelsohn & Heather Perlberg from Bloomberg wrote a great piece about Blackstone Funding Steve Schwarzman’s Blackstone Group LP (BX) has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in […]
Citigroup Selling Servicing Rights as Banks Retreat The U.S. mortgage market’s largest lenders like Citigroup are pulling back amid looming regulations and a drop in refinancing that fueled record profits last year. Bloomberg via National Mortgage News Citigroup Inc., the third-biggest U.S. bank, is selling mortgage-servicing rights on $63 billion of loans, or about 21 […]
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