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Foreclosures

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  • Foreclosure Sign

    Attorneys general from more than 40 states have signed on to a proposed settlement agreement with five of the nation's largest mortgage servicers over “robo-signing” foreclosure processing abuses, according to the lead negotiator, Iowa Attorney General Tom Miller.

  • A Mortgage Tornado Warning, Unheeded Sunday, 5 Feb 2012 | 7:49 AM ET
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    When home prices were flying high, one sports marketing executive compiled a dossier of improprieties on one of the giants of the business, Fannie Mae, and share it with the mortgage giant. But there is little evidence that Fannie Mae’s management or board ever took serious action, the New York Times reports.

  • Romney Debate Coach Dumped?   Friday, 3 Feb 2012 | 7:46 PM ET
    Romney Debate Coach Dumped?

    CNBC's Larry Kudlow reports, according to Politico, Mitt Romney's debate coach was dumped due to internal tensions; Micron Technology's CEO, Steve Appleton died when the experimental plane he was piloting crashed; New York's AG is suing three big banks for an using electronic mortgage registry to fake documents in foreclosure proceedings; and the Susan G. Komen Foundation has reversed its decision to cut funding of Planned Parenthood.

  • Own vs. Rent Riles Government Housing Policy Thursday, 2 Feb 2012 | 11:43 AM ET
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    While homeownership may be a tenet of the “American Dream,” renting is today’s actuality for a growing number of Americans.

  • Housing Demand Defies Fundamentals Tuesday, 31 Jan 2012 | 12:43 PM ET
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    Anyone with any cash in hand should be buying a house right now. That’s what any real estate agent will tell you, obviously, but that’s also what many investors now believe. Unfortunately, the potential home-buying public…isn’t buying it.

  • More Money for GSEs   Monday, 30 Jan 2012 | 1:12 PM ET
    More Money for GSEs

    The Obama administration's announcement that it is broadening its mortgage modification program is all about getting Fannie Mae and Freddie Mac's regulator to agree to principal reduction, reports CNBC's Diana Olick.

  • Freddie Mac Bets Against Homeowners   Monday, 30 Jan 2012 | 10:23 AM ET
    Freddie Mac Bets Against Homeowners

    Insight on a new report out that reveals Freddie Mac may have invested heavily in securities that would lose value if homeowners refinanced, with Jesse Eisinger, ProPublica senior reporter.

  • Foreclosure

    The number of new foreclosures in 2011 dropped nearly 40 percent, according to year-end numbers just released by Lender Processing Services; there is, however, little cause for celebration.

  • Foreclosures Made Up 20% of Third-Quarter Home Sales Thursday, 26 Jan 2012 | 9:22 AM ET
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    Foreclosures made up a smaller slice of all U.S. homes sold in last year's third quarter, as banks delayed placing properties for sale and home sales slowed.

  • Housing Close to Bottom?   Wednesday, 25 Jan 2012 | 12:55 PM ET
    Housing Close to Bottom?

    Pending home sales for December slid 3.5%, but are still higher than a year ago. And the FHFA reported that home prices rose 1% in November. What does the data mean for a housing bottom? Anthony Scaramucci, of Skybridge Capital, explains.

  • foreclosure_paperwork_stamp_200.jpg

    President Obama announced he was ordering the U.S. Attorney General to create a “Financial Crimes Unit,” its number one task being to go after the banks for faulty mortgage originations and securitizations.

  • Property Tax

    After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are current on their mortgages, regardless of who owns their loan; the catch is that this one has to go through Congress.

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    If the theme of tonight’s State of the Union address is fairness, then President Obama would be wise to steer clear of housing; most of the proposals to fix the nation’s still struggling real estate market are intrinsically unfair to a large majority of Americans.

  • Case Against Hedge Funds as Your Landlord: Greenberg Monday, 23 Jan 2012 | 4:11 PM ET
    Foreclosure

    In recent weeks we have outlined plans by hedge funds and private equity to buy up foreclosed houses, fix them and then rent them out. Sounds good on paper. But is it really?

  • Foreclosure Investors are Double-Edged Sword Monday, 23 Jan 2012 | 2:28 PM ET
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    The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts.

  • If you are in the market to buy a house, this is as good a time as you may find in the next twenty years to do so.

  • ‘Robo’ Foreclosure Settlement Turns Political Thursday, 19 Jan 2012 | 11:09 AM ET
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    If there is a deal, beyond the politics, it could have a larger effect on the state of the housing market and its recovery.

  • NAHB Survey: Home Builder Confidence Rises   Wednesday, 18 Jan 2012 | 10:02 AM ET
    NAHB Survey: Home Builder Confidence Rises

    CNBC's Diana Olick reveals the latest home building survey results.

  • Private Equity Bets on Housing   Thursday, 12 Jan 2012 | 2:00 PM ET
    Private Equity Bets on Housing

    Major private equity firm Carrington is ready to spend a half billion dollars to buy-up foreclosed properties from a major bank, with CNBC's Diana Olick, and Rick Sharga, Carrington Mortgage Services.

  • Will Obama's New Housing Plan Be a Big Ripoff? Monday, 9 Jan 2012 | 11:40 AM ET
    President Barack Obama

    The Obama administration is very close to announcing a plan that would sell government-owned foreclosed properties in bulk to investors who intend to use them as rental properties. The hope is that by taking this inventory out of the sale pipeline, the program could help the broader housing market recovery more quickly.