Real Estate News – July 20-21, 2011



Mortgage industry employees are still signing documents they haven’t read, even nearly a year after a nationwide “robo-signing” scandal surfaced that put the validity of thousands of foreclosures into jeopardy, according to a news report by the Associated Press (via REALTORMag): http://bit.ly/nljMYD


U.S. senators are calling on federal regulators to release information they have received from banks that have allegedly engaged in shoddy home-foreclosure practices, voicing concern that certain firms helping banks address abuses might be too cozy with the mortgage-servicing industry (via foxbusiness.com): http://fxn.ws/nebNx5


A state appeals court decision could have a wide impact on dozens of lawsuits filed in Utah over home foreclosures that washed across the state in the wake of the Great Recession (via sltrib.com): http://bit.ly/qVsXai


Are ‘Divorce Starts’ the New Leading Indicator for the Housing Market?  (via dailyfinance.com): http://srph.it/p3QpXf


More than 450,000 borrowers overcharged by the Countrywide mortgage lender when they fell behind or defaulted on their home loans are receiving refund checks under last year’s $108 million settlement with the Federal Trade Commission (via chicagotribune.com): http://trib.in/rlGZ4n


Wells Fargo & Co. has agreed to pay $85 million to settle civil charges that it falsified loan documents and pushed borrowers toward subprime mortgages with higher interest rates during the housing boom (via sacbee.com): http://bit.ly/pgFTxn


A new law hit the books in Arizona on Wednesday that should interest anyone who has ever had to deal with a homeowners association in the courtroom (via ktar.com): http://bit.ly/qS1OJK


 


 

Posted in Blog, Real Estate Law