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For foreclosure processors hired by mortgage lenders, speed equaled money
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Attorneys for homeowners describe the foreclosure process as a mass production line, and efforts to avoid foreclosure as a fight against a machine. In most cases a person would be needed to read what they file, but in many mortgage firms no such person existed. They describe the problem as industry wide and pervasive- and involving loan servicers, law firms, docment processing companies and others. The big mortgage companies, including government bailed out Fannies Mae and Freddie Mac, were eager to get bad loans off their books so they imposed penalties if the process was not speeded up.
U.S. Banks handling of foreclosures and mortgage securities.
10/16/2010
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For foreclosure processors hired by mortgage lenders, speed equaled money
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Fannieâs and Freddieâs Foreclosure Oversight Questioned
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The Case Against the Bernanke-Obama Financial Rescue
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Homeowners facing foreclosure and lack of any meaningful help.
09/29/2008
Lack of any meaningful help to homeowners facing foreclosure upto the Lehman Fannie crisis, and the failure to provide any significant help to homeowners in the $700 billion Sept 2008 bailout plan targeted mostly at freeing up the credit markets.
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Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep Homes
Wall Street Journal 09/29/2008
Card Firms' Loss Tally: Billions of Dollars in Fees
Wall Street Journal 05/22/2009
Consumers Need a Credit Watchdog
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Pine Tree Legal Assistance, and Nicolle Bradbury of Denmark, Maine, challenge a GMAC foreclosure, which sets off legal challenges across the USA.
01/05/2009
Attorney Generals of many states across the US initiate challenges to foreclosures, after the successful challenge in the Maine case.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
Out of Maine, a National Foreclosure Freeze
New York Times 10/14/2010
Banks Ignored Signs of Trouble in Foreclosures
New York Times 10/13/2010
Florida Foreclosure Lawyers Are Scrutinized Over Procedures
New York Times 10/15/2010
New York Times 10/14/2010
Failure of Obama's plan for helping homeowners facing foreclosure in 2009-2010
06/12/2009
Failure of the Making homes Affordable plan announced by the Obama administration in early 2009. Only 2000 of 500,000 loan modification applications in progress in October under this program have become permanent according to a Congressional oversight panel.
Grouped Articles
New York Times 07/17/2011
High Default Rate Seen for Modified Mortgages
Wall Street Journal 06/16/2010
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
New York Times 05/19/2014
Wall Street Journal 07/29/2015
The faulty foreclosure paperwork crisis that is hitting U.S. banks.
10/14/2010
Grouped Articles
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
Foreclosure Crisis Slams Into Banks
Wall Street Journal 10/15/2010
Out of Maine, a National Foreclosure Freeze
New York Times 10/14/2010
Florida Foreclosure Lawyers Are Scrutinized Over Procedures
New York Times 10/15/2010
New York Times 10/14/2010
New York Times 10/14/2010
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