June 4, 2010

Bank of America’s Principal Forgiveness Program Begins

On June 2, Bank of America began its new mortgage program for eligible underwater borrowers which includes an earned principal forgiveness in a loan modification.  Bank […]
June 3, 2010

Fannie Mae and Freddie Mac HAFA Guidelines Announced

Government sponsored entities (GSE), Fannie Mae and Freddie Mac, both issued new guidelines to servicers on June 1.   The new stipulations allow homeowners with GSE owned or […]
May 28, 2010

Lenders forced to buy back $3.1 Billion in Mortgages from Fannie and Freddie

Fannie Mae and Freddie Mac forced lenders to repurchase $3.1 billion in mortgages out of their books in the first quarter of 2010.   In a regulatory […]
May 26, 2010

New HAMP Guidelines Take Effect June 1, 2010

The federal government provided new Home Affordable Modification Program (HAMP) outreach and communication guidelines for foreclosure actions while evaluating the borrower.  These guidelines provide additional protection […]
May 19, 2010

FHA’s new principal reduction program

A new program issued by the Federal Housing Administration (FHA) requires lenders to reduce the principal by at least 10% for qualified borrowers.  Borrowers can qualify […]
May 17, 2010

New Mortgage Program for Unemployed

The Home Affordable Unemployment Program (UP) takes effect July 1, 2010, offering eligible unemployed borrowers an option to temporarily reduce or suspend mortgage payments for a […]
May 11, 2010

Channel 13 Investigation of Bank of America

Local news station, Channel 13 Action News, investigates Bank of America, the largest home mortgage lender in Nevada.  Read the full story here. 
May 10, 2010

60 Minutes Special: Walking Away

The incidence of negative equity in properties is unmatched in history. 65% of residences in Nevada are drowning and the water continues to rise.  See the […]
May 6, 2010

Republicans Want to End Fannie and Freddie

On Wednesday, Republicans announced a plan to wind down bailed-out mortgage-financing giants, Fannie Mae and Freddie Mac.  This proposal has the potential to create some political […]