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Latest News

Risk Retention Proposal Released

2011-03-30T02:26:45+00:00

March 30, 2011 (Chris Moore) Seven agencies of the federal government jointly released the risk retention proposal mandated in the Dodd-Frank Refinance Reform Bill. The 233 page report defines “Qualified Residential Mortgages (QRM)” and provides additional guidance on requirements for commercial real estate and automobile loans. Read more...

Let’s Call it What it is: A Double-Dip Housing Recession

2011-03-29T08:47:29+00:00

March 29, 2011 (Chris Moore) Home prices declined for the sixth month in a row according to the Standard & Poor/Case-Shiller 20-city index. The report shows that home prices declined in 19 of the 20 cities surveyed with 11 of them at the lowest level since the housing bust in 2007. It’s time to call [...]

Bank of America Prepares Mortgage Write Downs in California

2011-03-29T03:00:32+00:00

March 29, 2011 (Jeff Alan) Bank of America has announced that they will begin soliciting homeowners who are eligible for mortgage prinicipal write downs as part of the Treasury Department’s Hardest Hit Fund being implemented through the California Housing Finance Agency (CalHFA). Read more...

Is $21K “Cash for Keys” Proposal the Worst Idea Ever?

2011-03-29T03:00:10+00:00

March 29, 2011 (Chris Moore) Last week Federal Deposit Insurance Corporation (FDIC) Chairperson Sheila Bair proposed a “Cash for Keys” program as an option that would allow 90-day plus delinquent homeowners to be paid $21,000 to move out of their homes. With visions swirling in my head of millions of current homeowners taking such an [...]