From the Office of the Comptroller of the Currency:
WASHINGTON — Payments to 4.2 million borrowers are scheduled to begin on April 12 following an agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve Board with 13 mortgage servicers.
On February 8th, 2013 in an important step forward in our nations pursuit of equal opportunity, the U.S. Dept. of Housing & Urban Development issued a final rule on disparate impact, reaffirming its commitment to enforcing the Federal Fair Housing Act. Read more »
In January 2013, thirteen of the mortgage servicers subject to the Independent Foreclosure Review reached an agreement with federal regulators to pay more than $9.3 billion in cash payments and other assistance to help borrowers.
As a result of this agreement, the participating servicers have ceased the Independent Foreclosure Review, which involved case-by-case reviews, and replaced it with a broader framework allowing eligible borrowers to receive compensation more quickly.
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A new report shows nearly $46 billion in consumer relief has been provided nationwide to victims of the robosigning scandal as part of last year’s national foreclosure settlement with the five largest mortgage servicers.
Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.
CAMBRIDGE - A new report from the Harvard Joint Center for Housing Studies examines lending patterns during the housing boom and current efforts to create a new mortgage market, in the wake of the housing bust.
By the Government Accountability Office
What GAO Found
From 1994 through 2011, the multifamily loan activities of Fannie Mae and Freddie Mac (the enterprises) generally increased. In this period, Fannie Mae held a lower percentage of multifamily loans in its portfolio than Freddie Mac. While the enterprises’ multifamily business operations generally were profitable, both enterprises reported losses in 2008 and 2009.
Citywide Financial Services Community Event (City of Chicago, West Side)Open A “Second Chance Bank Account" for $25 at any of the participating banks BRING $15 - THEN $10 WILL BE ADDED TO OPEN AN ACCOUNT Qualify for a $25 Match Deposit After 60 Days Join
Open a “Second Chance Bank Account" for $25 at any of the participating banks BRING $15 - THEN $10 WILL BE ADDED TO OPEN AN ACCOUNT; Qualify for a $25 match deposit after 60 days join the STABLE project homebuyers club & qualify for a $500 grant at the second chance banking, know your credit score, and homebuyers club event.
This is the first release of the DePaul University Institute for Housing Studies (IHS) Cook County House Price Index and reflects house price changes on properties with repeat sales from the first quarter of 1997 through the second quarter of 2012. The IHS Cook County House Price Index breaks out price trends separately for the four main residential property types found in Cook County: single family detached homes, condominium units, small multifamily rental buildings with two-to-four units, and larger multifamily rental buildings with five or more units.