LOAN MODIFICATION ATTORNEYS UNDER INVESTIGATIONThe State Bar of California has recently launched numerous investigations against attorneys for misconduct related to loan modifications. In a rare move, the State Bar has released the names of 16 attorneys under investigation, by opting to waive investigation confidentiality in favor of public protection. These attorneys have allegedly taken fees [...]

Trying to get out there first with a proposal for the future of Fannie Mae (FNM) and Freddie Mac (FRE), the Mortgage Bankers Association (MBA) is calling for Fannie and Freddie to be broken up into several smaller privately held companies that issue securities with an explicit government guarantee, not just an implied guarantee, according [...]

By PETER S. GOODMANNew York TimesThis week, the Obama administration summoned mortgage company executives to Washington to demand they move faster to lower payments for homeowners sliding toward foreclosure. Treasury officials called on the companies to hire and train more people quickly to field applications for relief. But industry insiders and legal experts say the [...]

Fast Facts: Calif. median home price – June 09: $274,740 (Source: C.A.R.)Calif. highest median home price by C.A.R. region June 09: Santa Barbara So. Coast $850,000 (Source: C.A.R.)Calif. lowest median home price by C.A.R. region June 09: High Desert $108,600 (Source: C.A.R.)Calif. First-time Buyer Affordability Index – First Quarter 2009: 69 percent (Source: C.A.R.)Mortgage rates [...]

You’ve probably heard about President Barack Obama’s plan to rescue the housing market. He believes that restructuring distressed mortgages will help to keep struggling home owners in their homes. He also believes that this will help slow or stop the decline in housing prices. To this point $75 billion has been allocated toward modifying distressed [...]