GSEs $17B bond auction endangers the mortgage bond market Registers of Deeds ask Iowa AG to postpone servicer settlement Problem foreclosure Investigation depths peers. – EPA abandons investigation into wyo. water contamination – "If the EPA had any confidence in its draft report, which has been intensely criticized by state regulators and other federal agencies, it would proceed with the peer review process," said Energy In.. Florida foreclosure law firm faces closure after bar investigation.. peers into foreclosure problem depths.. permeated every step of.And to be sure, pending regulatory actions (for example, on the qualified residential mortgage rule) and the prospect of abolishing the GSEs are also holding private capital back. That’s why it’s at best premature, and at worse an ill-fated idea, to eviscerate the two mortgage giants.Fed Beige Book: Economic activity expanded in March, housing results mixed Fed Beige Book Reports Modest Growth in March In most regions, economic activity expanded as prices and wages rose unevenly.. Results were mixed for producers of paper products, metals, and.
Under the FDIC’s orders, about 4,000 IndyMac borrowers so far have been given more-affordable mortgages. By Friday, the bank was expected to have sent out more than 15,000 modification offers to.
The agency took over IndyMac in July, and announced the loan modification program on Aug. 20; Bair has said that fdic analysts estimated that 40,000 or so of the 60,000 mortgages more than 60 days in arrears at IndyMac would qualify for a loan modification under the program. . . .
Under the IndyMac Federal program, eligible mortgages would be modified into sustainable mortgages permanently capped at the current Freddie Mac survey rate for conforming mortgages. Modifications would be designed to achieve sustainable payments at a 38 percent DTI ratio of principal, interest, taxes and insurance.
The FDIC, which took the thrift’s reins after the July 11 failure of $32 billion-asset IndyMac Bancorp, is proposing to lower interest rates for borrowers who live in their home and are "seriously delinquent or in default" on their first mortgage. Under the program, modified loans will be capped at the Freddie Mac prime survey rate of 6.5%, and.
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· FDIC’s Bair Pushes Loan Modification Program.. more than 5,000 borrowers’ loans have been modified under the program.. Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program.
Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators.
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the U.S. Congress to maintain stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, and managing receiverships.
Obama Signs First-Time Homebuyer Tax Credit Extension NEW YORK (CNNMoney.com) — President Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday. The $8,000 credit was scheduled to lapse on Dec. 1 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30 and close by June 30.
Outspoken FDIC Chairman Sheila Bair today announced a loan modification plan for troubled Indymac borrowers who are currently behind on their mortgage payments.. The aim of the program is help struggling borrowers get back on track with affordable mortgages while increasing the value of Indymac’s mortgage portfolio for the sake of its outstanding creditors (what is a loan modification program?).