The End Is Near For New Yorkers Living For Free. New York Foreclosure Litigation Times Drop From 48 Months To 6 Months The end is near for New York homeowners hoping to take advantage of the state’s notorious long foreclosure litigation time. New York foreclosure litigation times have dropped off dramatically in the past year. The […]
Federal Housing Finance Agency Says It Wants An Alternative To the FICO Credit Scoring System Federal Housing Finance Agency Director Mel Watt is looking at an alternative to the FICO credit scoring system. Yet, he told the Mortgage Bankers Association not to hold their breath waiting for Fannie Mae and Freddie Mac. Watt said that the Federal Housing Finance Agency is seriously […]
Homeowners Will Have To Fight To Keep Their Homes When HAMP Ends Homeowners better have their loan modifications completed by December 31st or be prepared to fight their lenders. The HAMP program is coming to end. The Home Affordable Modification Program was launched in 2009 in answer to the financial crisis. The program provided financial incentives […]
JPMorgan Chase Claims That FHA Loans Are Government Backed Subprime Loans FHA loans that were originally intended to give first-time buyers easy access to mortgages are being compared to the very loans that contributed to the housing crisis. Kevin Watters, CEO of Chase Mortgage Banking told CNBC, “FHA requirements are down to a 520 FICO […]
Florida Loan Officer Sentenced To More Than Two Years In Prison For Her Role In $2.4 Million Mortgage Fraud Scheme Florida Mortgage Loan Officer Brenda Ann Blair the mastermind behind a $2.4 Million mortgage fraud scheme. She was sentenced today to 27 months in prison. Her prison sentence is followed by five years of supervised release. Blair participated […]
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