Mortgages
Mortgage Delinquencies Drop Across States
President Barack Obama tours a home framing assembly in Chandler, Arizona, on Tuesday. Arizona saw the country’s largest decline in mortgage delinquency rates over the last year. (AP) In another sign that the housing market is recovering, a new report shows that mortgage delinquencies dropped in every state and the District of Columbia from a […]
More States Consider Diverting Foreclosure Money
Missouri political leaders attracted attention earlier this month when they announced that they would use some of their state’s share of a billion foreclosure settlement between big banks and attorneys general — money primarily intended for struggling homeowners — to pay for higher education. Critics said the move undermined the intent of the settlement, which […]
Foreclosure Probe Explained: What State AGs Want From Big Banks
When all 50 state attorneys general launched an investigation into the national foreclosure crisis a year ago, it was specifically aimed at “mortgage servicers” — the companies that process homeowners’ mortgage payments, modify loan terms and handle foreclosure paperwork on behalf of lenders. The states accused the servicers of using illegal practices to cheat homeowners […]
Delegates Speak: On the Pocketbook
Aug. 28, 2008, 6:00 p.m. EDT Q. What serious issue in your state would you like the next president to address? Florida on the Mortgage Crisis I live in Florida, so where should I start? The mortgage crisis, the insurance crisis, the lack of confidence in FEMA (Federal Emergency Management Agency) being there to help […]
States Unveil Mortgage Licensing System
States have a new tool to regulate mortgage companies and access their track records, including information on companies punished in other states for fraud or predatory lending. The Nationwide Mortgage Licensing System is an online database that will make it easier for states to monitor mortgage companies. If a firm operating in multiple states is […]
States take lead to fix housing crisis
States are in the forefront of policymaking to minimize damage from the mortgage meltdown. President George W. Bush on Thursday (Dec. 6) announced a groundbreaking agreement with major lenders to temporarily freeze sub-prime interest rates that are set to rise, but California Gov. Arnold Schwarzenegger got there first: He unveiled a similar deal last month. […]