From Lender Processing Services: JACKSONVILLE, Fla. – January 6, 2012 – The November Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows that while mortgage delinquencies at the end of November 2011 were nearly 25 percent less than the January 2010 peak, the  trend toward fewer loans becoming delinquent, which dominated 2010 [...]

Today the Federal Housing Finance Agency unveiled changes to HARP, which will allow qualifying borrowers to refinance their mortgages at low rates regardless of how far underwater their loans are. From the FHFA: Fannie Mae and Freddie Mac have helped approximately 9 million families refinance into a lower cost or more sustainable mortgage product, approximately [...]

HAMP is a miserable failure, we can probably all agree. As I was reading the August highlights, one figure stood out – something that I’m not sure I noticed before. Only 10,544 active modifications included some form of principal reduction. HAMP is doing almost exactly zero to help with our negative-equity problem. Statistically, once people [...]

Banks would be required to offer all qualifying homeowners a loan modification before foreclosing on them. Bills to establish a national standard are circulating The Hill.

Given a budget deficit of $1.4 trillion, we cannot afford to waste $100 million on ridiculous mortgage relief programs. Yet that is what bureaucrats want to do with a “pilot program” in Illinois. Worse yet, the proposal is sure to expand to other states wasting billions more taxpayer money.