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C.A.R. opposes reduction in mortgage interest deduction
Last week, President Obama presented his proposed budget plan for fiscal year 2010. Included in the proposed plan is a provision to reduce the mortgage interest deduction for those earning more than $250,000.
Governor Schwarzenegger Prescribes Solutions to Keep Californians in their Homes
November 10, 2008 - (RealEstateRama) — Committed to keeping Californians in their homes and stabilizing the state's economy, Governor Arnold Schwarzenegger today announced an aggressive plan to bring down foreclosure rates by helping both borrowers and lenders modify existing home loans in ways that benefit both parties.
Gov. Schwarzenegger Highlights Subprime Mortgage Agreement’s Progress in Preventing Foreclosures
October 30, 2008 - (RealEstateRama) — Governor Arnold Schwarzenegger today issued the following statement regarding the third quarter of 2008 mortgage servicer survey results. The latest data, released by the Department of Corporations who tracks and reports loan modification statistics, shows continued success for the Governor's Subprime Mortgage Agreement from November 2007 to the present time.
Attorney General Brown Announces Landmark $8.68 Billion Settlement with Countrywide
October 06, 2008 - (RealEstateRama) — Attorney General Edmund G. Brown Jr. today announced a landmark, multi-state settlement with Countrywide Home Loans, Countrywide Financial Corporation and Full Spectrum Lending that is expected to provide up to $8.68 billion of home loan and foreclosure relief nationally, including $3.5 billion to California borrowers.
Legislature passes mortgage reform bill
Oakland, CA - August 28, 2008 - (RealEstateRama) — AB 1830, the California legislature's strongest piece of legislation designed to rein in the abuses in the mortgage market, passed the Senate today with a 21-16 vote. It must go back to the Assembly for concurrence before being sent to the governor.
Mortgage Counseling Agencies to Receive Aid, Hire More Counselors
Mortgage counseling agencies will receive $5 million to hire more counselors over the next two years, and help the half a million California homeowners facing interest rate resets and the threat of foreclosure.
Senator Feinstein and Mayor Villaraigosa Urge Swift Passage of Legislation to Create National Standards...
Los Angeles – U.S. Senator Dianne Feinstein (D-Calif.) and Los Angeles Mayor Antonio Villaraigosa today called for Congress to pass legislation to create national licensing and oversight standards for mortgage brokers and lenders. Mayor Villaraigosa also announced his endorsement of the legislation – the SAFE Mortgage Licensing Act -- introduced by Senators Feinstein and Mel Martinez (R-Fla.) in February
Economic Stimulus’ Biggest Real Estate Winners
There's some good news on the horizon for homeowners in cities like San Diego, Washington D.C. and Sacramento, Calif., where the real estate boom and bust has left those markets reeling from the effects of overbuilding, bad loans and foreclosures.
Tens of Thousands of Californians Could Benefit from Higher Government-Insured Mortgage Limits
Congress must finish the job on FHA modernization bill so more families can keep their homes Temporary loan limits part of Economic Stimulus Package
91 Community Groups Ask BofA to Halt Foreclosures of Countrywide Mortgages and Develop Plan...
Countrywide Financial’s shoddy lending practices have left hundreds of thousands of mortgage borrowers at risk of losing the single most important asset in their lives – their homes. If Bank of America acquires Countrywide, these mortgage borrowers could either benefit or suffer greatly from the merger
Fraud Exceeds $4 Billion in 2007
DALLAS -- (Feb. 4, 2008) Mortgage fraud activity jumped past $4.0 billion last year -- with California and Ohio leading the way, according to the FraudBlogger Index published and maintained by
NAR Welcomes California Governor’s Support for Increasing Mortgage Loan Limits; Adds to Growing Sentiment
WASHINGTON, January 24, 2008 - The following is a statement by National Association of Realtors® President Richard F. Gaylord and Chief Executive Officer Dale Stinton
First American CoreLogic Releases November 2007 LoanPerformance House Price Index
SAN FRANCISCO, Jan. 24, 2008–First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its November 2007 LoanPerformance Home Price Index (HPI).
PMI Releases Winter 2008 Risk Index
WALNUT CREEK, Calif., Jan. 15 /PRNewswire-FirstCall/ -- PMI Mortgage Insurance Co., the U.S. subsidiary of The PMI Group, Inc. (NYSE: PMI), today released its Winter 2008 U.S. Market Risk Index(SM), which ranks the nation's 50 largest metropolitan statistical areas (MSAs) according to the likelihood that home prices will be lower in two years.
$4.6 M Raised to Support Mortgage Counselors During Foreclosure Crisis
SAN FRANCISCO, Jan. 14 /PRNewswire-USNewswire/ -- Mortgage counseling agencies will receive $4.6 million to build their capacity over the next two years, and help the hundreds of thousands of California homeowners facing interest rate resets and the threat of foreclosure.
Comerica Bank Offers Two New Mortgage Programs to Rebuild Homes Damaged or Destroyed in...
SAN DIEGO, Dec. 12 /PRNewswire-FirstCall/ -- Comerica Bank today announced two new mortgage programs especially designed for California homeowners whose primary homes suffered wildfire damage.
J.D. Power and Associates Reports: Despite Recent Turmoil in the Mortgage Market, Overall Satisfaction...
WESTLAKE VILLAGE, Calif.: 12 December 2007 — Although the housing market has been in turmoil for much of 2007, most borrowers have not been negatively impacted and overall satisfaction across the mortgage lending industry has remained stable since 2006, according to the J.D. Power and Associates 2007 Primary Mortgage Origination Study released today.
Countrywide Wants to Help Dispel Home Buying Myths
Calabasas, CA – (December 6, 2007) — It's not hard to have questions about today's real estate market – especially if you're the one considering purchasing your first home or making a move. With all the recent news reports about mortgage lending options, refinancing and interest rates, there is plenty of information floating around. To help provide some clarity, Countrywide Home Loans offers some tips from its nearly 40 years of experience.
Countrywide Applauds Mortgage Freeze Plan
CALABASAS, Calif., Dec. 6 /PRNewswire/ -- Countrywide Financial Corporation (NYSE: CFC) applauds the Administration's endorsement of the industry's HOPE NOW initiative to provide loan modification assistance to borrowers at risk of delinquency due to interest rate resets.
Countrywide Wants to Help Dispel Home Buying Myths
CALABASAS, Calif., Dec. 6 /PRNewswire-FirstCall/ -- It's not hard to have questions about today's real estate market -- especially if you're the one considering purchasing your first home or making a move. With all the recent news reports about mortgage lending options, refinancing and interest rates, there is plenty of information floating around. To help provide some clarity, Countrywide Home Loans offers some tips from its nearly 40 years of experience.
