Housing
More on Housing
Obama Administration Investigation Finds Considerable Variation Among Operations of Five of the Largest Loan Handlers
By DAMIAN PALETTA And DAVID WESSEL
A four-month-long Obama administration probe into five of the country's largest mortgage servicers has discovered "a significant variation" among their operations, with some servicers "significantly worse than others" in how they handle home loans, U.S. Secretary of Housing and Urban Development Shaun Donovan said in an interview.
Mr. Donovan wouldn't identify which companies were laggards in the HUD review, but he said the administration plans to make the results of its investigation public in the next few weeks.
BOA, GMAC Mortgage Resume Foreclosures In 23 States
By ALAN ZIBEL, AP Real Estate Writer
Big lenders are trying to move past the foreclosure-document mess, saying they're now confident their paperwork is accurate.
Yet they face so much organized resistance that they can't just snap up their briefcases, declare the crisis over and move on.
by Joanne Allen
A House of Representatives subcommittee on housing issues will hold a hearing on home foreclosures when lawmakers return from recess after the November elections, the panel announced on Monday.
The hearing is scheduled for Thursday, November 18 at 10:00 a.m. with testimony from industry representatives, government regulators and watchdog groups, the House Subcommittee on Housing and Communality Opportunity said in a statement.
BY GARY WALKER
Rep. Maxine Waters (D- Westchester), who is facing ethics charges stemming from her alleged involvement with a community bank, still retains popularity among many of her constituents, including those in Westchester and Playa del Rey.
by Joseph Pimentel
California Assemblymember Ted Lieu (D-CA) and Congresswoman Maxine Waters (D-CA) are seeking a moratorium on foreclosures from banks while also calling on state and federal regulators to investigate them for possible illegal and improper actions.
Recently, banks like Ally Financial's GMAC mort-gage unit and JP Morgan Chase's mortgage unit both revealed that employees had signed and fi led thousands of affi davits in order to foreclose on properties without giving them appropriate review.