Three major banks and Virginia-based MERSCORP, Inc. and its subsidiary Mortgage Electronic Registrations Systems (MERS) were sued Friday by the state of New York.  The suit, filed by the state's Attorney General Eric T. Schneiderman, charges that the creation and use of a privately national electronic registration system, ...Read More

Treasury Secretary Timothy Geithner told the Financial Stability Oversight Council that the financial system is getting stronger and safer and that much of the excess risk-taking and careless financial practices that caused so much damage has been forced out.  However, he said, "These gains will erode over time if we are not able...Read More

HOPE NOW, the voluntary private sector alliance of mortgage industry stakeholders, recently concluded a two day conference in Washington which focused on assistance to military homeowners and foreclosure mediation. 

One group of servicers, investors, and housing counselors met with regulators, investors, and members of the mil...Read More

CoreLogic and Lender Processing Services (LPS) have each released their most recent Home Price Indices.  CoreLogic's HPI covers December; LPS's covers the month of November.  Here is a quick review of each.

LPS found that the average home price for transactions during November was $199.000, down 0.6 percent from the ...Read More

Homeowners who refinanced their homes during the fourth quarter of 2011 either refinanced for about the same amount or actually brought cash to the table according Freddie Mac.  Fewer than 15 percent of those who refinanced during the quarter increased their loan amount by 5 percent or more.  This is the lowest percentage of...Read More

Four former investment bankers and traders from the Credit Suisse Group were charged by the Securities and Exchange Commission (SEC) Wednesday violating multiple sections of the Securities Exchange Act of 1934 while trading in subprime mortgage bonds.  The indictments allege the four engaged in a complex scheme to fraudul...Read More

Saying that the housing crisis struck right at the heart of what it means to be middle class, President Barack Obama has begun to flesh out the housing-related proposals he made in his State of the Union speech last Tuesday.  He spoke this morning at Falls Church, Virginia about his housing plans, some pieces of which hav...Read More

The Mortgage Bankers Association (MBA) provided its annual assessment of The State of the Mortgage Industry in a press conference Wednesday afternoon.  Michael Young, MBA Chairman said that the states that have been hardest hit by the housing crisis are and will continue to deal with the aftermath but there are signs that ...Read More

The Attorney General of Oregon announced today that he will join in the so-called 50-state Attorneys General settlement with five major financial institutions that operate the large servicing organizations.  The settlement arose out of a multi-state investigation of alleged improprieties the servicers' management of delinquent l...Read More

Watch the speect live  - click read more link below.

In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that ...Read More