A MAJOR RULING: In a major ruling Friday (January 14, 2011), a coalition of nonprofit defense lawyers and consumer protection advocates in Maryland successfully got over 10,000 foreclosure cases managed by GMAC Mortgage tossed out, because affidavits in the cases were signed by Jeffrey Stephan, the infamous GMAC “robo-signer” who attested to the authenticity of […]

According to Forbes’ recent article, Is Fannie Bailing Out The Banks?,  the critics of the giant banks, say ABSOLUTELY. Close observers charge that Monday’s mortgage-putback deal between Bank of America and Fannie Mae and Freddie Mac is nothing more than a backdoor bailout of the nation’s largest lender. And the even bigger question is whether this just the beginning?
The […]

We are now in an era of unearthing organizations that we never before focused on. One such creation is MERS (Mortgage Electronic Registration Systems).
This institution has taken center stage recently and is significant in that it actually changed the land-title system that this country - for much of its history - has relied upon to determine legal ownership […]

What’s old is new again. Just posted to www.ZeroHedge.com, is a fairly comprehensive and enlightening recap of the recent International Monetary Fund (IMF) report which documents their stress testing of 53 large banking holding companies and published its findings last month.
This report and analysis is not only objective, but it’s consistent with many postings on this Blog. All […]

The Senate just passed, and the President is ready to sign, the Financial Regulation (FinReg) Bill, which will signficantly impact home buyers and lending guidelines. Amongst the changes impacting consumers is the creation a Consumer Bureau at the Federal Reserve and the requirement that lenders ensure a borrower is able to repay a home loan by […]

Talk about the housing dominoes now falling at a fast pace. Banks repossessed a record number of U.S. homes in the Q2 2010, but slowed new foreclosure notices.

There is a six-fold increase in homes starting the foreclosure process, and …
1 in 78 homes received at least one foreclosure filing in the 1st-half 2010 and […]

When banks fail, who’s getting their hands on the distressed properties taken over by the Federal Deposit Insurance Corp (FDIC)?

Here is one of the pieces of the distressed market puzzle ……
Read the full WSJ article.

The Opportunity: A partnership between Colony Capital LLC and a minority-owned investment firm won the bidding for a $1.85 billion portfolio […]

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IF THIS DOESN’T MOVE THE NEEDLE, WHAT WILL? Mortgage rates fell this week to the lowest level on record, giving consumers added incentive […]

Funds giving investors money back? If ever there was a red flag, and in the end a litmus test regarding the state of Commercial Real Estate (CRE), here it is. According to a just published WSJ article, Dearth of Properties Spurs Fund Giveback some real-estate funds, which raised billions of dollars hoping to pounce on […]

Unadjusted Case-Shiller data for February 2010 indicated that on a sequential basis the decline in home prices is accelerating. And this is even with every stimulus imaginable thrown at the problem.
SO WHAT HAPPENS when the latest round of homebuyer subsidies runs out?
As the press release states: “Existing and new home sales, inventories and housing starts all show […]