Breaking news from WashPost: Federal regulators seized three banks tonight, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the pace of failures is increasing. The Federal Deposit Insurance Corp., which took control of [...]
Entries Tagged as 'Foreclosure Information'
FDIC Seizes Downey Savings and Loan, PFF Bank and Trust, Community Bank of Loganville, Ga
November 21st, 2008 · No Comments
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
Fannie Mae and Freddie Mac Halt Foreclosures through Jan 9, 2009.
November 20th, 2008 · No Comments
Mortgage giants Fannie Mae and Freddie Mac have directed their network of servicers to halt all foreclosure and eviction proceedings between Nov. 26 2008 and Jan. 9, 2009, meant to give a recently announced rescue plan time to work. The Streamlined Modification Program, set to launch Dec. 15, enables delinquent borrowers to get a modified [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
FDIC, US Treasury to Help Banks Modify Mortgages
November 1st, 2008 · No Comments
The U.S. Treasury Department and Federal Deposit Insurance Corp. are nearing an agreement on a plan that may guarantee as many as three million distressed mortgages, according to a report Thursday by the Washington Post. The plan, which would cost from $40 billion to $50 billion and use funds from the Treasury’s TARP program, would [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout