WASHINGTON – The U.S. Department of Housing and Urban Development today awarded $ 20 million in technical assistance funding to 12 organizations that will, in turn, help local communities across this country stabilize neighborhoods hard-hit by foreclosure through HUD’s Neighborhood Stabilization Program (NSP).

Feds remind banks to watch junior liens --

As financial firms sift through senior liens to assess the underlying credit quality, federal regulators are reminding banks to also study junior liens linked to their portfolios.
The Federal Reserve, the Federal Deposit Insurance Corp., the National Credit Union Administration and the Office of the Comptroller of the Currency released guidance on the issue of assessing […]

Consumer confidence retreats in January --

Consumer confidence slumped in January after rebounding in the final months of 2011, The Conference Board said in its consumer sentiment index.
The business analytics firm said the index for January now stands at a confidence level of 61.1, compared to 100 back in 1985.
Consumer confidence rebounded in December, reaching a level of 64.8, but retreated […]

Washington state considers borrower short sale protections --

Banks could soon be barred from pursuing deficiency judgments against Washington state borrowers after a short sale.
A Senate committee in the Washington State Legislature will hold a hearing over H.B. 2718, which states that if a bank "writes off debt from the short sale, they can't then subsequently collect this debt from the seller. The […]

Morning Radar: Fallout from Freddie Mac report --

Let the rumpus begin. In response to a report from NPR and ProPublica Monday morning, detailing the bets Freddie Mac supposedly made in direct conflict with its ability to refinance troubled borrowers, plenty of market commentators pushed back.
As the day wore on, even the FHFA unleashed a defense, and the claims appeared diluted until the […]

Next Page »