The federal government projected that 19 of the nation’s biggest banks could suffer losses of up to $599 billion through the end of next year if the economy performs worse than expected and ordered 10 of them to raise a combined $74.6 billion in capital to cushion themselves. Read Full Story Tags: Housing, Lending, [...]
Reserves fall short of covering non-performing assets at 110 of 181 small-cap banks and institutions on the Russell 2500 Financial Services Index, according to first-quarter data compiled by Bloomberg. Non-performing assets are mostly loans 90 days or more overdue. Read Full Article Tags: Non+Perfoming+Assets, Housing, Lending
To help enhance the integrity of the home appraisal process in the mortgage finance industry, in March 2008, Fannie Mae entered into an agreement with our regulator – the Federal Housing Finance Agency (FHFA) (then the Office of Federal Housing Enterprise Oversight) – and the New York Attorney General’s office to adopt certain policies relating [...]
The office of the Controller of the Currency (OCC) and the Office of Thrift Supervision (OTC) released the mortgage metrics report based on Q4 2008 data. The percentage of non performing notes increased to 10.05% from 6.66% between the first and last quarter 2008. Re-default rates of Modified Loans approaches 60% after 6 months of [...]
Please use the self-assessment tools provided on this web site to see if you are among the 7 to 9 million homeowners who may be able to benefit from MakingHomeAffordable.gov Tags: Bail+Out, Banks, Lenders, Loan+Modification
