Banks created the Mortgage Electronic Registration System to save themselves a boatload in fees by keeping mortgage transfers off the books of local governments. Now, a New York judge says the whole system violates state law, a…
A Louisiana bankruptcy case involving a single foreclosure best illustrates the problems with the banks’ outsourcing their mortgage default work to firms like LPS. The result of this money-saving maneuver by banks winds up cost…
U.S. foreclosure filings rose 1% in January 2011 from December 2010, but were down 17% from a year ago.
Continue reading U.S. Foreclosure Filings Rose in January as Nevada Continues to Lead the Pack
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The drop in home values caused by the mortgage crisis has resulted in one positive outcome: Prices have fallen so far that home affordability is back to pre-housing-boom levels, reports Moody’s Analytics. But a quarter of house…
Foreclosures nationwide have exposed a swamp of fraudulent documents, but in many parts of Florida, courts have been letting banks ignore the law with impunity. Now, moves by Florida’s Supreme Court and its state bar associatio…