BOSTON – Attorney General Martha Coakley is threatening to sue the Federal Housing Finance Agency for refusing to comply with a state law designed to help stem foreclosures.
The Office of Inspector General ("OIG") for the Federal Housing Finance Agency ("FHFA") is urging the FHFA to sue its servicers and lender-placed insurance ("LPI") providers because Fannie Mae and Freddie Mac have suffered considerable financial harm in the LPI market, possibly as much as $158 million in 2012 alone from excessively priced insurance coverage.
Bank of America Puts Short Sales Ahead of REO If the property sells to a third party at the auction, the bank or lender recoups some of the cost of the outstanding loan balance, interest and fees from the sale of the property. REO Status. If the home fails to sell at auction to a third party, possession typically passes to the lender and it becomes a Real Estate Owned (REO) property.
Fannie, Freddie Sued by Massachusetts AG The attorney general ( AG ) of Massachusetts, Martha Coakley has sued Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) for violating state anti-foreclosure law. The case, filed in Suffolk Superior Court, also named the Federal Housing Finance Agency, the U.S. regulator that oversees these two Government.
The student loan servicer also manages the student loan accounts for more than 100,000 student debtors from Massachusetts with a total outstanding principal balance of more than $5 billion. Back in late June, a report surfaced that stated Attorney General Healey was threatening to sue PHEAA over their handling of federal student loans.
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Massachusetts Attorney General Martha Coakley, who had threatened to sue fannie mae and Freddie mac, has made good on that threat. She recently filed suit against the two GSEs and the Federal Housing Finance Agency, which oversees them, for violating a state law designed to help troubled borrowers remain in homes they are losing to foreclosure.
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AIG plans to take mortgage insurer United Guaranty public Ceding to pressure from activist investors, American International Group plans to take its mortgage insurer, United Guaranty, public later this year, according to a report from Bloomberg.Foreclosure sales drop to lowest level since 2007 Ali Solis – Ongoing Need in Affordable housing lawmakers loot trust fund for affordable housing | Sadowski. – But the No. 1 priority was help with affordable housing. "Florida is the third most-challenged state in the nation in terms of rental stability," said Ali Solis, the CEO of Make Room Inc., a housing nonprofit that will have a workshop on the subject Jan. 18 in Miami, featuring Mayor Francis Suarez.US New-Home Sales Climb to Best Level Since Late 2007 – New-home sales jumped 12.4 percent last month to a seasonally adjusted rate of 654,000 annual units, the strongest level since October 2007, the Commerce Department. has extended its recovery from.
Adam S. Minsky founded the first law office in Massachusetts devoted entirely to assisting student loan borrowers, and he is one of the only attorneys in the country practicing in this area of law. He provides counsel, legal assistance, and direct advocacy for borrowers on a variety of student loan-related matters.