Mortgage

McLean, VA - October 19, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the 30-year fixed-rate mortgage rate fell again to break the survey’s all-time low; the 30-year FRM has been under 5 percent for 23 weeks in a row. The last time 30-year FRM rates were this low was April 1951 (based on a data series of FHA rates going back to 1948). The 5-year ARM tied the all-time survey low set last week

McLean, VA - October 19, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) announced that Clayton S. Rose, Professor of Management Practice at Harvard Business School and veteran executive in the financial services and investment industries, was elected today to serve as a director on the company's board.

Washington, DC - October 19, 2010 - (RealEstateRama) -- In 2009, 2,725 different multifamily lenders provided a total of $52.5 billion in new financing for apartment buildings with five or more units, according to the Mortgage Bankers Association’s (MBA) Annual Report on Multifamily Lending for 2009. The 2009 dollar volume represents a 40 percent decline from 2008 levels. The most active 122 lenders represented just four percent of active lenders, but 77 percent of the dollar volume lent. Three-quarters of the active lenders made five or fewer loans over the course of the year.

Washington, D.C. - October 19, 2010 - (RealEstateRama) --- John A. Courson, President & CEO of the Mortgage Bankers Association (MBA), today announced that Barbara Van Allen has been named Senior Vice President of Communications and Marketing, effective November 1, 2010.

Washington, DC - October 18, 2010 - (RealEstateRama) -- It has come to the attention of the DC Department of Insurance, Securities and Banking (DISB) that gross irregularities seem to exist in the processing of some home foreclosures in the metropolitan area. These include the use of improper paperwork, flawed and fraudulent documentation, “robo-signing,” excessive attorney fees, illegal mortgage registration, and transfer and wrongful foreclosures.

Jackson, MS - October 18, 2010 - (RealEstateRama) -- Attorney General Jim Hood is joining a 49-state bipartisan mortgage foreclosure working group, as part of a coordinated national effort by states to review the practice of so-called robo-signing within the mortgage servicing industry

BOSTON, MA - October 18, 2010 - (RealEstateRama) -- Today, Massachusetts Attorney General Martha Coakley joined with 49 other Attorneys General and state banking and mortgage regulators from 30 states to form a bi-partisan multistate group to explore whether or not individual mortgage servicers have improperly submitted affidavits or other documents in support of foreclosures without first verifying their accuracy.

Augusta, ME - October 18, 2010 - (RealEstateRama) -- Attorney General Janet Mills is joining a coordinated national effort by state regulators and Attorneys General to investigate the practice of so-called “robo-signing” in the mortgage servicing industry.The Mortgage Foreclosure Multistate Group, comprised of state attorneys general in 50 states and state banking and mortgage regulators in thirty states, including Maine, will investigate whether individual mortgage servicers have improperly submitted documents in support of foreclosures. Specifically, the group will look into whether companies misrepresented on affidavits and other documents that they reviewed and verified documentation supporting foreclosure actions. The group will also determine whether companies signed affidavits outside the presence of a notary public or committed other irregularities regarding residential mortgage foreclosures. (See attached joint multistate group statement)

October 18, 2010 - (RealEstateRama) -- Since I as an Oregonian started investigating my own personal foreclosure and wanting more research and information on the fraud in Oregon regarding false documents and MERS, I decided to expand my research now into investigative journalism for Oregonians. Not one major law firm has yet to be found in any of the major search engines for MERS Fraud perpetrated upon many unsuspecting homeowners in Oregon State.

McLean, VA - October 15, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) today announced that its mortgage-related investments portfolio, also known as the company’s retained portfolio, will form Giant Mortgage Participation Certificates (Giant PCs) from its holdings of Mortgage Participation Certificates (PCs)

Washington, D.C. - October 15, 2010 - (RealEstateRama) -- John A. Courson, President & CEO of the Mortgage Bankers Association (MBA), today announced that Barbara Van Allen has been named Senior Vice President of Communications and Marketing, effective November 1, 2010.

Washington, DC - October 15, 2010 - (RealEstateRama) -- In 2009, 2,725 different multifamily lenders provided a total of $52.5 billion in new financing for apartment buildings with five or more units, according to the Mortgage Bankers Association’s (MBA) Annual Report on Multifamily Lending for 2009. The 2009 dollar volume represents a 40 percent decline from 2008 levels. The most active 122 lenders represented just four percent of active lenders, but 77 percent of the dollar volume lent. Three-quarters of the active lenders made five or fewer loans over the course of the year.

SEATTLE, WA - October 13, 2010 - (RealEstateRama) -- Washington Attorney General Rob McKenna announced today that his office has uncovered evidence that suggests foreclosure trustees are ignoring consumer protection laws in Washington, adding a new layer to a stack of problems reported in the mortgage-servicing industry. He sent letters today to 52 trustees outlining his concerns and calling on them to suspend any questionable foreclosures in the state.

SEATTLE, WA - October 13, 2010 - (RealEstateRama) -- Washington Attorney General Rob McKenna and Scott Jarvis, director of the state Department of Financial Institutions, announced that they have joined attorneys general and banking regulators nationwide in forming a multistate group to investigate whether mortgage servicers have improperly submitted affidavits or other documents related to foreclosure in their states

October 13, 2010 - (RealEstateRama) -- Attorney General John Kroger and the Oregon Department of Consumer and Business Services today announced a multi-state investigation into whether affidavits and other documents have been improperly used as part of the foreclosure process.

COLUMBUS, OH - October 13, 2010 - (RealEstateRama) -- Ohio Attorney General Richard Cordray, who recently filed the first lawsuit in the nation against a mortgage servicer over fraudulent affidavits filed in foreclosure cases, announced today that his office is joining with other state attorneys general in a multi-state investigation of these practices."This is the clearest signal yet to the major mortgage lenders and servicers that they need to take serious measures to fix problems with affidavits," Cordray said. "What we have seen are not mere technicalities, as some suggest; rather, this is about the private property rights of homeowners facing foreclosure and the integrity of our court system, which cannot enter judgments based on fraudulent evidence.

October 13, 2010 - (RealEstateRama) -- Raleigh: Attorney General Roy Cooper’s Consumer Protection Division is reviewing the top 15 mortgage companies’ foreclosure processes to make sure they are fair and legal as part of an ongoing investigation.

October 13, 2010 - (RealEstateRama) -- Attorney General Jack Conway announced today that his office and attorneys general from 48 other states have formed a multistate group to inquire whether or not individual mortgage servicers have improperly submitted affidavits or other documents in support of home foreclosure actions filed in state court. The facts uncovered in the investigation will dictate the scope of the inquiry

INDIANAPOLIS, IN - October 13, 2010 - (RealEstateRama) -- Indiana Attorney General Greg Zoeller is joining a 50-state bipartisan mortgage foreclosure working group, as part of a coordinated national effort by states through the National Association of Attorneys General (NAAG) to review the practice of so-called "robo-signing" within the mortgage servicing industry

TALLAHASSEE, FL - October 13, 2010 - (RealEstateRama) -- Attorney General Bill McCollum today announced an on-going effort to rein in mortgage servicers and protect Floridians from purported deceptive and unfair practices. Attorney General McCollum, along with 48 other Attorneys General, are part of a multistate effort to stop mortgage loan servicers from allegedly submitting affidavits or signing notices that appear to have procedural defects of either a judicial or non-judicial foreclosure.

Washington, DC U.S. Senators Blanche Lincoln and Mark Pryor and U.S. Representative Vic Snyder (AR-02) today announced that Arkansas will receive $17,736,991 in U.S. Department of Housing and Urban Development (HUD) funds through the Dodd-Frank Wall Street Reform and Consumer Protection Act that was signed into law in July. The funding will provide loans for homeowners who are behind on their mortgage payments and facing foreclosure.

LITTLE ROCK, AR - October 13, 2010 - (RealEstateRama) -- Attorney General Dustin McDaniel today announced that he has joined a multistate review into possibly improper practices within the mortgage service industry.

WASHINGTON, D.C. - October 13, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 8, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 14.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 14.8 percent compared with the previous week

October 12, 2010 - (RealEstateRama) -- For years, mortgage loan servicing companies have engaged in shoddy business practices, ranging from misapplied payments to evicting homeowners who have never missed a payment. Now employees of these companies have admitted to falsifying thousands upon thousands of affidavits used to toss families out of their homes

MILFORD, CT - October 12, 2010 - (RealEstateRama) -- Total Mortgage Services, LLC, a leading mortgage lender and broker that offers some of the lowest mortgage rates available, announced today that its 30-year fixed jumbo mortgage rates are back below 5 percent for qualified borrowers. Currently, Total Mortgage is offering qualified borrowers a 30-year fixed jumbo mortgage up to $729,000 at rate of 4.875 percent and an APR of 4.932 percent with 0 point

Las Vegas, NV - October 11, 2010 - (RealEstateRama) -- Loan modification may be the last resort for people in danger of getting their Las Vegas homes foreclosed. Properly executing the loan modification process is critical in getting approval for it, and ultimately, to keeping your home

WASHINGTON, DC - October 11, 2010 - (RealEstateRama) -- Business Solutions, a subsidiary of the American Bankers Association, has selected Interthinx to offer member banks critical end-to-end risk mitigation at advantaged pricing. Interthinx is a leading national provider of automated fraud protection, regulatory compliance, income verification, and decision-support tools for the mortgage industry.“Mortgage fraud is a growing concern,” said William Kroll, president of Business Solutions. “Proper fraud prevention measures are essential. Our new relationship with Interthinx will help ABA members thwart scam artists, staying one step ahead of the ever-changing mortgage lending environment.

Glenside, PA - October 7, 2010 - (RealEstateRama) -- Federal HEMAP is here - almost! HUD has announced their intention to begin taking applications from eligible homeowners for their new Emergency Homeowners Loan Program (EHLP) Program by the end of the year.

WASHINGTON, DC - October 8, 2010 - (RealEstateRama) -- Today Senate Banking Committee Chairman Chris Dodd (D-CT) announced that the Committee will hold a hearing on Tuesday, November 16, to investigate allegations of improper and fraudulent mortgage servicing and foreclosure processing.

EL PASO, TX - October 6, 2010 - (RealEstateRama) -- Texas Attorney General Greg Abbott today reached an agreement with Wells Fargo & Co. that will provide $5 million in relief to more than 200 Texas homeowners who had “payment option” adjustable rate mortgage loans with the bank.