On the heels of our report detailing short-sale flipping and other kinds of mortgage fraud that are on the rise, the Federal Housing Administration plans to announce it will tighten lending standards to try to stem rising defaults.
The Washington Post reports Housing and Urban Development Secretary Shaun More…
With home prices continuing to fall and more foreclosures yet to come, it’s clear that tough times remain for a housing market recovery. And to add to the troubles, another threat to any rebound is emerging: mortgage fraud.
The risk of mortgage fraud in More…
Among the many housing policy disappointments sustained during the bust, the Hope for Homeowners mortgage refinancing program has to rank as the disappointing-est. Originally estimated as having the potential to aid nearly half a million struggling borrowers, the program has resulted in just one successful loan refinancing More…
When U.S. Housing and Urban Development Secretary Shaun Donovan announced last week that first-time homebuyers soon will be permitted to turn their $8,000 tax credit for purchasing a property into downpayment money, he called the development “exciting” and “a real win for everyone.”
But his enthusiasm isn’t More…
It seemed like a good idea at the time. Last October, the Bush administration unveiled a plan aimed at helping homeowners facing foreclosure called Hope For Homeowners. Earlier this month, there was consternation and disbelief across the political and economic spectrum when it was revealed that the program More…
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