Real Estate News – June 28, 2011



New York Attorney General Eric Schneiderman expects to lead opposition to what he called a “quick, cheap settlement” of a 50-state investigation into foreclosure practices. Schneiderman put the monetary settlement being discussed with the largest U.S. mortgage servicers at $20 billion to $25 billion and said he will take “the hardest line” against it (via democratandchronicle.com): http://bit.ly/lTt6Jm


Retired Floridian Returns Home To Find His Home Foreclosed Upon, By Mistake (via HuffingtonPost.com): http://huff.to/jJ86k5


5 Banks At Risk of a Commercial Real Estate Double Dip (via TheStreet.com): http://bit.ly/lDJfu8


U.S. lenders and community bankers sounded the alarm to lawmakers on Tuesday over proposed federal rules aimed at reducing risk-taking on mortgage lending, saying the guidelines could hurt small banks and impair credit markets (via Reuters.com): http://reut.rs/jOF1f3


Mortgage fraud reports increased 31 percent in the first quarter of this year, largely attributed to additional reviews from banks of loans issued several years ago that now have gone bad, reports The Financial Crimes Enforcement Network, a Treasury Department agency (via REALTORMag): http://bit.ly/kQnytn


Todd Bodine Loses Battle with HOA (via newsobserver.com): http://bit.ly/mn8PQN



 

Posted in Blog, Real Estate Law