Real Estate News – December 14, 2011

In Chicago, lenders are required to maintain vacant homes in foreclosure, such as by keeping lawns mowed and tidy and attending to maintenance issues inside. Lenders found in violation can face daily fines up to $1,000. But the Federal Housing Finance Agency (FHFA) is suing the city of Chicago for its new ordinance, saying the city is overstepping its authority with the mandate (via REALTORMag):

Morgan Stanley said Tuesday that it has reached a settlement with insurance company MBIA Inc. over disputes involving mortgage-backed investments (via

5 States With the Most Mortgage Fraud (via REALTORMag):

The mayor of Pennsylvania’s financially struggling capital city has brought her mortgage payments up to date, avoiding foreclosure on a property where she once ran a mortgage counseling service (via