WASHINGTON - July 11, 2014 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the June edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators, including growing equity and a rebound in the sale of new and existing homes. While this scorecard notes positive overall trends in the housing market, officials caution that more work needs to be done as the economy recovers from the Great Recession.

2nd Appellate District for the Court of Appeal of CA Affirms Dismissal of Borrower’s...

Reston, Virginia - June 23, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Court of Appeal of the State of California Second Appellate District affirmed the dismissal of the plaintiff’s complaint, holding that California does not permit a preemptive challenge to the authority of a foreclosing party. Additionally, it ruled that a borrower lacks standing to challenge an assignment.

Federal Government and State Attorneys General Reach Nearly $1 Billion Agreement with SunTrust to...

WASHINGTON, D.C. - June 18, 2014 - (RealEstateRama) -- The Justice Department, Department of Housing and Urban Development (HUD), and the Consumer Financial Protection Bureau (CFPB), along with 49 state attorneys general and the District of Columbia’s attorney general have reached a $968 million agreement with SunTrust Mortgage Inc. (SunTrust) to address mortgage origination, servicing, and foreclosure abuses.

Single Mom Overcomes Obstacles to Provide Home for Son with Down Syndrome

Washington, DC - June 17, 2014 - (RealEstateRama) -- National Homeownership Month is the ideal time to remind Americans that owning a home represents much more than a mortgage. Tia Early, the National Foundation for Credit Counseling® (NFCC) Professional Achievement and Counseling Excellence (PACE) Housing Client of the Year, is the picture of what a mother will do to provide a home for her son, redefining perseverance along the way.

American Winter foreclosure documentary screening in Everett June 10

OLYMPIA - May 28, 2014 - (RealEstateRama) -- The foreclosure crisis is anything but “over” for thousands of Washington families. Though the number of foreclosures is gradually decreasing, data from the Mortgage Bankers Association showed more than 25,000 homes in the foreclosure process at the end of 2013. Those numbers represent real people, real families, who are struggling to make ends meet — some who are facing homelessness.

FTC Mails Refund Checks Totaling Nearly $3 Million to Consumers Victimized by Alleged Mortgage...

WASHINGTON, D.C. - May 28, 2014 - (RealEstateRama) -- The Federal Trade Commission, through an administrator, is mailing checks totaling nearly $3 million to over 6,300 consumers who were victims of a mortgage relief scheme. Using names such as Prime Legal Plans and Reaching U Network, the defendants allegedly made false promises that they could help consumers save their homes from foreclosure or lower their mortgage payments

Fifth Circuit Again Rules MERS is Beneficiary of Deed of Trust

Reston, Virginia, - May 26, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that a three-judge panel of the United States Court of Appeals for the Fifth Circuit ruled in favor of BAC Home Loans Servicing, L.P. (BAC) and Fannie Mae, affirming a lower court’s decision dismissing claims of wrongful foreclosure.

Rip-Offs, Retainers and Rescue: Lawyers’ Committee and Loan Modification Scam Prevention Network Coalition Partners...

WASHINGTON, D.C. - May 12, 2014 - (RealEstateRama) -- The Lawyers’ Committee for Civil Rights Under Law (Lawyers’ Committee) and its coalition partners in the Loan Modification Scam Prevention Network (LMSPN) will host an important town hall discussion about the impact of attorney involvement in foreclosure rescue options for distressed homeowners on Tuesday, May 13, 2014 from 1:30 to 3 p.m. at the Lawyers’ Committee’s offices, 1401 New York Avenue, NW, Suite 400, Washington, D.C. This event is a follow up to the Lawyers’ Committee’s April 15, 2014 release of a comprehensive national report“Foreclosure Rescue, Inc.”, which examines the foreclosure rescue fraud epidemic, scam trends and efforts to combat these fraudulent activities

GAO: Lack of Foreclosure Reviews Led to $1.5 Billion Loss

WASHINGTON, D.C. - May 8, 2014 - (RealEstateRama) -- If regulators had conducted a comprehensive review of bank foreclosure files, they could have netted an additional $1.5 billion in cash payments, the Government Accountability Office reported April 29, The Wall Street Journal reported

Waters: Report on Foreclosure Review “Troubling”

WASHINGTON, D.C. - May 1, 2014 - (RealEstateRama) -- Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement in response to today’s GAO report on the Independent Foreclosure Review (IFR). The study was conducted as the result of a 2012 request by Congresswoman Waters, Senator Robert Menendez (D-NJ) and Reps. Brad Miller (D-NC) and Luis Gutierrez (D-IL). Waters released the following statement:

Governor Cuomo Deploying Mobile Command Center to Long Island to Deliver Foreclosure Prevention Help...

Albany, NY - April 30, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo announced today the deployment of the Department of Financial Services’ (DFS) Mobile Command Center (MCC) to Long Island to provide foreclosure prevention assistance to homeowners. DFS representatives will be available to meet homeowners in the MCC from 11 a.m. to 7 p.m., Wednesday, April 30 at Town of Hempstead Municipal Lot, 400 Uniondale Avenue, across from the Uniondale Library, in the Town of Hempstead.

AG Coakley Highlights Efforts to Address Foreclosure Crisis

BOSTON - April 29, 2014 - (RealEstateRama) -- On the second anniversary of the first-in-the-nation foreclosure prevention program HomeCorps, Attorney General Martha Coakley once again urged Fannie Mae and Freddie Mac to engage in principal reduction as a means to keeping people in their homes. AG Coakley also released the report Rebuilding the Commonwealth: Recovering from the Foreclosure Crisis and Setting the Foundation for Future Success , offering a transparent record of the actions taken during the crisis and documenting the ways more than $850 million was recovered and provided to Massachusetts homeowners and investors since 2007

MSHDA: Michigan housing industry poised for best year since Great Recession

LANSING, Mich. - April 29, 2014 - (RealEstateRama) -- Michigan’s housing industry is bracing for its best year since the start of the Great Recession in 2008, including projected increases in new housing starts, rising home prices and a decline in foreclosures, the Michigan State Housing Development Authority (MSHDA) announced today during the kickoff of the 16th annual Building Michigan Communities Conference.

In Advance of Committee Markup of Housing Finance Reform, Sen. Brown Introduces Amendments to...

WASHINGTON, D.C. - April 28, 2014 - (RealEstateRama) -- Today, in advance of the Senate Banking Committee’s markup of housing finance reform legislation, U.S. Sen. Sherrod Brown (D-OH) filed several amendments that would help protect homeowners and improve local neighborhoods. Following the introduction of his amendments, Brown offered the following statement

Report: GSEs Conduct Faulty Pre-foreclosure Inspections

WASHINGTON, D.C. - April 3, 2014 - (RealEstateRama) -- The Office of Inspector General for the Federal Housing Finance Agency released a report claiming that pre-foreclosure inspections for Fannie Mae and Freddie Mac showed major quality control issues, including potentially fraudulent or manipulated data, HousingWire reported March 25

Fannie Mae and Freddie Mac Foreclosure Prevention Actions Top 3.1Million

WASHINGTON, D.C. - April 3, 2014 - (RealEstateRama) -- Fannie Mae and Freddie Mac have completed more than 3.1 million foreclosure prevention actions since the start of conservatorship in 2008. These actions have helped more than 2.5 million borrowers stay in their homes, including nearly 1.6 million who received permanent loan modifications. During 2013, Fannie Mae and Freddie Mac completed nearly 448,000 foreclosure prevention actions, 99,700 of these in the fourth quarter. The majority of these allowed troubled borrowers to save their homes. The results are detailed in the Federal Housing Finance Agency’s fourth quarter 2013 Foreclosure Prevention Report, also known as the Federal Property Manager’s Report


WASHINGTON, D.C. - April 3, 2014 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Washington and provide support to homeowners and low-income renters forced from their homes following flooding and mudslides beginning on March 22, 2014, and continuing

National Civil Rights Groups Say, As Released, Johnson-Crapo Does Not Provide Credit Access for...

WASHINGTON, D.C. - March 24, 2014 - (RealEstateRama) -- The new Senate proposal to reform the housing finance system would needlessly make mortgages more expensive and less available, announced civil rights groups today. The goal of housing finance reform is to create a safe housing finance system that provides affordable mortgages to all creditworthy borrowers, including people of color and families with modest incomes and lower wealth. We have serious concerns that the legislation proposed this week does not achieve that goal, the groups said, and we look forward to working with the co-sponsors to improve the bill.

Foreclosure Activity Decreases as Sales Price Growth Continues to Slow Across Country

SAN DIEGO, - March 5, 2014 - (RealEstateRama) -- DataQuick®, a provider of advanced real estate information solutions powered by data, analytics and decisioning, reports that foreclosures have decreased in 31 of the 42 reporting markets presented in the company’s monthly Property Intelligence Report (PIR) over the last month, quarter and year

Three foreclosure prevention counselors in the National Foreclosure Mitigation Counseling program receive awards for...

Washington - February 21, 2014 - (RealEstateRama) -- NeighborWorks America today announced that foreclosure prevention counselors from three nonprofit organizations funded in part by the National Foreclosure Mitigation Counseling program received awards for excellence in service to homeowners facing foreclosure. Maru Cham at Neighborhood House Association in San Diego, CA was named the Counselor of the Year; Elizabeth Caton, at Northwest Side Housing Center was named Counseling Innovator of the Year, and Gercide Luc at Urban Edge Housing Corporation in Roxbury, MA, won the Excellence in Counselor Perseverance award. Nominations and voting are done by members of the housing counseling community.

National delinquency, foreclosure rate reductions mask worsening conditions in some areas

WASHINGTON, D.C. - February 4, 2014 - (RealEstateRama) -- Metropolitan housing markets have not yet emerged from the foreclosure crisis, according to a new report from the Urban Institute, National Housing Conference (NHC), and the Local Initiatives Support Corporation (LISC). Foreclosure activity has declined in recent years, but metropolitan foreclosure rates are still well above historic norms and there is substantial variation across the country. Among large metro markets, foreclosure rates are falling slowly and steadily in some, but foreclosure activity may not yet have peaked in others.

Phone briefing today on zombie properties in Cook County

WASHINGTON, D.C. - January 28, 2014 - (RealEstateRama) -- Join a phone briefing today on Woodstock Institute’s new report, Unresolved Foreclosures: Patterns of Zombie Properties in Cook County. The report examines the extent to which servicers are walking away from foreclosures in Cook County, Illinois, creating zombie properties, and how that practice may vary by the characteristics of the neighborhood in which the property is located.

BCC calls for extension of Mortgage Forgiveness Debt Relief Act

WASHINGTON, D.C. - January 24, 2014 - (RealEstateRama) -- Boston Community Capital's (BCC) SUN Initiative has prevented the eviction of over 450 families facing foreclosure across Massachusetts and Maryland. BCC also advocates for policies that benefit low-income homeowners who are impacted by predatory lending and foreclosure

Remarks Of Counselor To The Secretary For Housing Finance Policy Dr. Michael Stegman Before...

WASHINGTON, D.C. - January 22, 2014 - (RealEstateRama) -- Thanks to the Structured Finance Industry Group for giving me this opportunity to discuss the Administration's housing priorities for short-term action and comprehensive housing finance reform.

Prepared Remarks of CFPB Director Richard Cordray at the Phoenix Field Hearing

WASHINGTON, D.C. - January 10, 2013 - (RealEstateRama) -- When people are making decisions about buying a home, they deserve the best possible guidance. Housing counselors and legal aid lawyers provide that sort of impartial advice, and you also offer much-needed help with rental and credit issues. But you also have been invaluable advisors to many homeowners in trouble. In fact, you are, to my mind, the unsung heroes of the foreclosure crisis, which would have done much greater damage to American consumers and American communities if not for your persistent service to those in need.

FHFA Announces Milestone: More Than 3 Million Homeowners Helped by Foreclosure Prevention Programs

WASHINGTON, D.C. - December 24, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac have reached a significant milestone, completing more than 3 million foreclosure prevention actions since the start of conservatorship in September 2008. FHFA noted this milestone in its third quarter Foreclosure Prevention Report (also known as the Federal Property Manager’s Report), which details results of foreclosure prevention programs.

Wells Fargo UrbanLIFT SMCommunity Grant Program awards $11.4 million to strengthen distressed neighborhoods in...

DES MOINES - December 20, 2013 - (RealEstateRama) -- Wells Fargo, the nation’s leading home mortgage lender today announced that 59 nonprofits were awarded grants totaling $11.4 million from the UrbanLIFTSM Community Grant Program to help strengthen neighborhoods in 25 metropolitan statistical areas (MSAs)

Prepared Remarks of CFPB Director Richard Cordray on the Ocwen Enforcement Action Press Call

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Today the Consumer Financial Protection Bureau, authorities in 49 states, and the District of Columbia are filing a proposed court order requiring the country’s largest nonbank mortgage servicer to compensate consumers for years of systemic and significant servicing errors. Ocwen Financial Corporation and its subsidiary, Ocwen Loan Servicing, must refund $125 million to people who have already lost their homes. And they must provide $2 billion in relief to current homeowners who are underwater and in danger of losing their homes

CFPB, State Authorities Order Ocwen to Provide $2 Billion in Relief to Homeowners for...

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Today, the Consumer Financial Protection Bureau (CFPB), authorities in 49 states, and the District of Columbia filed a proposed court order requiring the country’s largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide $2 billion in principal reduction to underwater borrowers. The consent order addresses Ocwen’s systemic misconduct at every stage of the mortgage servicing process. Ocwen must also refund $125 million to the nearly 185,000 borrowers who have already been foreclosed upon and it must adhere to significant new homeowner protections

#13 Government and Public Real Estate News

WASHINGTON, D.C. - December 17, 2013 - (RealEstateRama) -- In accordance with the Stewart B. McKinney Homeless Assistance Act, HUD published a Notice in the Dec. 13, 2013, Federal Register identifying Federal buildings and other real property HUD has reviewed for suitability for use to assist the homeless. The properties were reviewed using information provided to HUD by Federal landholding agencies or by GSA regarding their inventories of excess or surplus property. The list includes buildings and properties in California

Popular Government & Nonprofit Press Releases


SEIA Joins Settlement to Resolve Oncor Rate Case

Following is a statement from Sean Gallagher, vice president of state affairs for the Solar Energy Industries Association (SEIA), on the unanimous settlement approved today to resolve Oncor Electric Delivery Company’s 2017 rate case

Recent Government & Nonprofit Press Releases

ABC National

ABC CEO Mike Bellaman Appointed to Task Force on Apprenticeship Expansion...

Michael D. Bellaman, president and CEO of Associated Builders and Contractors (ABC), has been appointed by U.S. Department of Labor Secretary R. Alexander Acosta  to the Task Force on Apprenticeship Expansion, created by President Trump’s June 15 Executive Order 13801.