Worst HAMP Month on Record During the final month of 2011, the number of loan modifications completed under the government's program saw the smallest gain in the history of the program.
The Obama administration reported that 762,839 permanent loan modifications were active as of Dec. 31, 2011. The modifications were completed through the Home Affordable Modification Program.
That was a gain of 12,091 over November -- the smallest gain on record.
DocX, Founder Indicted A grand jury has indicted DocX and founder Lorraine Brown, who could spend up to seven years in prison if she is convicted.
Charges were based on 68 foreclosure documents with signatures in the name of Linda Green but allegedly not actually signed by Green.
The criminal indictment is just one in a series of civil and criminal legal woes plaguing DocX parent Lender Processing Services.
The planned shutdown of the MetLife Inc. subsidiary was disclosed last month. Mortgage staffing at MetLife stood at 5,507 as of Sept. 30, 2011.
A MetLife spokesman recently explained that while a maximum 4,300 layoffs could occur, some of those employees will end up in other MetLife jobs while others will leave to work at other companies.
Regulation Requires SARs Filings by Non-Bank Lenders Mortgage brokers and non-bank mortgage lenders will soon be required to file reports when mortgage fraud is suspected. The additional compliance burden is likely to lead to an increase in filing statistics even though actual fraud activity could retreat.
Non-bank residential lenders will now be required to file suspicious activity reports under new regulations finalized Tuesday.
SARs reports help identify straw buyers, fraudulent flips and short-sale fraud.
Real Estate News
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Powerful Facts About Home Ownership In a new podcast, President Ron Phipps shares the facts about the difference between 5% and 10% down and who home owners really are.
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Minnesota Mortgage broker providing mortgage loan financing. We are a private
company and not a government agency or the federal government. Begin your online mortgage application for a Minnesota home loan at http://www.VentureLoanApp.com
John Mazzara is a licensed Realtor and is affiliated with RE/MAX Results, 7300 France Ave S, Suite 410, Edina, MN 55435. Each RE/MAX office is independently owned and operated. John has sold homes since 1986 in Edina and throughout the entire Minneapolis/St. Paul Metro area. We have a lot of relocation resources for relocating to MN. Search for Minnesota Homes via our online MLS search at http://www.minneapolisstpaulhomes.com/ or
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