The Multi-State Settlement Part 1 of 3: What Has Happened
Wall Street knew all of the mortgages were bad when they created or bought and sold them. Furthermore, they knew the warranties of quality they made regarding the caliber of the loans, whether to the certificate purchasers of the Residential Mortgage Backed Securities (“RMBS”) pools or the Government Sponsored Entities (“GSE”), were meaningless when they […]
Black & LoBello on the Radio
Click here to listen to the Legal Hour on KDWN AM720 from October 5th, 2011 in which Managing Partner, Tisha Black Chernine, Esq., hosts special guest, Mark Baker from Sierra Pacific Mortgage. Ms Black Chernine and Mr. Baker discuss the FHA Short Refinance Program, mortgage insurance increases, Government Sponsored Enterprises (GSE), settling a second mortgage, refinancing a mortgage to […]
New Report States the Obvious: Principal Reductions Lead to Lower Re-Default Rates
According to a new report from the State Foreclosure Prevention Working Group, a group of state attorney generals and bank supervisors across the country, loan modifications made in 2009 are forty to fifty percent less likely to be delinquent six months after modification than loans modified at the same time in 2008. Additionally, the report […]
Fannie and Freddie to Delist Stock from NYSE
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to delist their common and preferred stock from the New York Stock Exchange (NYSE) and any other national securities exchange. To read the full article on DSNews.com, click here.
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 guaranteed loans to pursue a short sale or deed-in-lieu of foreclosure if they are unable to secure a modification under the Home Affordable Modification Program (HAMP) program. Both Fannie […]