Fannie Mae outsourcing scandal. Fannie Mae is outsourcing U.S. loss mitigation jobs to India! Entire companies are being shut down here because apparently the “government sponsored entity”, Fannie Mae is getting a better deal elsewhere. Leave your comment below if you have any knowledge about this and if you think this policy deserves media attention! [...]
The number of completed foreclosures is down both nationwide and within the state of Texas. Real estate tracking service CoreLogic reports that the nationwide numbers for March 2012 were down 19% compared to the same month a year earlier. As foreclosure inventory is decreasing as well, analysts believe that more defaulted mortgage cases are solved [...]
Ally Bank’s loan servicing unit, “ResCap”, is bankrupt and has filed for Chapter 11 protection. Ally had contemplated this move at least for several weeks because ResCap faces millions of dollars of bond-related payments starting this week. According to the WSJ, the bank’s mortgage unit has been hit with billions of dollars worth of lawsuits [...]
Foreclosure victim sees no other way out from the tyranny of bank fraud and harassment than to kill himself just days before the scheduled eviction from his Newbury Park home in Southern California. According to a report filed by CBS Los Angeles, Norman Rousseau and his wife Oriane put down 30% on their home when [...]
Investors should use caution before entering the market in foreclosures, REO and short sales that is reportedly heating up in some areas of the country. According to a CNBC report, the states that were hardest hit by the crash in the housing market are now attracting investors who are competing for inventory that is perceived [...]
