Lemar Wooley News
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A federal appeals court revived a lawsuit accusing the U.S. Department of Housing and Urban Development of setting up its reverse-mortgage program in a way that makes it more likely a surviving spouse will end up in foreclosure.
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The Federal Housing Administration is disputing a report that foreclosure starts on loans it insures spiked by 74 percent from March to April.
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Whitney Gollinger, marketing chief for a Manhattan condo building with an outdoor movie theater and panoramic city views, is highlighting a different amenity to spur sales: the financial backing of the federal government.
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Private equity firms are jumping into distressed housing as the U.S. government plans to market 200,000 foreclosed homes as rentals to speed up the economic recovery.
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Four years after the housing bubble popped, 11 million homeowners owe more on their mortgages than their houses are worth.
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DoubleLine Capital LP’s Jeffrey Gundlach, manager of the top performing mortgage fund last year, is shunning “overpriced” Ginnie Mae securities, because investors underestimate the risk that the Federal Reserve and President Barack Obama will spur a homeowner refinancing wave.
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Bank of America Corp. should face fraud proceedings after its Countrywide unit submitted faulty data to back up claims for reimbursement on federally insured mortgages, according to an audit by a U.S. watchdog.
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California mortgage brokers face closer scrutiny as the state adopts a federal law aimed at curbing the fraud and abuse that helped decimate the housing market.
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