Treasury Dept. anti-foreclosure program "abysmal," says watchdog

By David Heath

Desperate homeowners beware: Getting help from the federal government to lower your monthly mortgage bill may actually force you into forec

Excerpts from this story referencing "Center for Public Integrity":

"… for them to get borrowers into a permanent modification, Barofsky told the Center for Public Integrity in an interview earlier this week.In testimony before the House Oversight …"

Treasury’s financial reporting for TARP questioned

By Laurel Adams

GAO criticizes Treasury for lapses in its oversight of TARP accounts

Rebuked appraisers reborn as real estate agents

By Joe Eaton

In 2007, a mortgage lender flagged the work of veteran Florida home appraiser Jerome Woolf for review, a process that often leads to an appr

Excerpts from this story referencing "Valuation":

"… directly with appraisers during the appraisal process.Called the Home Valuation Code of Conduct, the agreement between the two lending giants and New York …"

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Despite new rules, appraisers say pressure remains

By Joe Eaton

It’s been more than six weeks since new rules went into effect to clean up systemic abuses in the home appraisal business, but don’t ask an

Excerpts from this story referencing "Valuation":

"… ndustry and they still have no way to report violations.On May 1, the Home Valuation Code of Conduct made it a violation for lenders to pressure appraisers to …"

"… l face pressure from some appraisal management companies, despite the Home Valuation Code of Conduct. And they don’t know where to turn for help.“They trie …"

New appraisal rules lack enforcement

By Joe Eaton

Nine days before new rules radically changing the appraisal industry are set to take effect, appraisers, lenders and real estate agents are

Excerpts from this story referencing "Valuation":

"… nt firms, which serve as middlemen between lenders and appraisers.The Home Valuation Code of Conduct, or HVCC, scheduled to go into effect May 1, was part of a …"

"… Mae and Freddie Mac agreed to pay $24 million to set up an “Independent Valuation Protection Institute” to field appraiser complaints about pressure to in …"

The appraisal bubble

By Joe Eaton

In 2004, years before plummeting real estate values turned Fort Myers, Florida, into a top five foreclosure capital, appraiser Mike Tipton f

Excerpts from this story referencing "Valuation":

"… oans they buy. They also agreed to pay $24 million to fund the Independent Valuation Protection Institute, a new organization to help implement and monitor the …"

"… Center’s request for details of its investigation’s findings.The Home Valuation Code of Conduct, an industry standard which came about as a result of Cuom …"

"… Appraisal Institute, a trade association representing appraisers.The Home Valuation Code of Conduct, Garber added, is lip service to cleaning up the industry. …"

"… walk he included in his appraisal. This would be prohibited under the Home Valuation Code of Conduct. But Miller expects lenders will figure out a way around t …"

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Will Washington pull the plug on HAMP?

By Michael Hudson

The future of the Obama administration’s troubled $30 billion initiative to bail out beleaguered homeowners is on the line. ...

Where’s the HAMP loan data?

By Julie Vorman

The Treasury Department should stop dragging its feet and release some of the specific loan-level data it has collected from mortgage servic

Fed, GAO move ahead on home appraisals

By Julie Vorman

As controversy rages over whether foreclosure documents were pushed through the system by lenders' robo-signers, the government is moving ah

Excerpts from this story referencing "Valuation":

"… appraisers.The rule was mandated by the Dodd-Frank law to replace the Home Valuation Code of Conduct created by Fannie Mae and Freddie Mac to ensure appraisers …"

"… e appraiser, the ways appraisers value a property, and the use of the Home Valuation Code of Conduct..Lenders can hire independent appraisers, use an in-house …"

"… eighborhood.Among other things, the GAO said it would look at how the Home Valuation Code of Conduct had affected Valuation costs and disclosures to consumers. …"

Some foreclosure rescue scams involve lawyers, mortgage errors

By Julie Vorman

Desperate U.S. homeowners facing foreclosure are being duped by con artists. The scammers employ a variety of schemes such as a “forensic mo

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