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Mortgage Crisis Watch Business and legal issues affecting: loan repurchases | mortgage-backed securities | mortgage insurance

Tag Archives: HUD-FHA

HUD Selling Troubled Mortgages

The U.S. Department of Housing and Urban Development recently announced that it is accepting applications for investors interested in buying distressed residential mortgage loans formerly insured by the FHA, focusing on mortgages in Chicago, IL, Newark, NJ, Phoenix, AZ, and Tampa, FL. The Distressed Asset Stabilization Program is an expansion of an FHA disposition program… Continue Reading

Settling with Government – SEC Gets Paid and Subprime Mortgage Securities Investors Suffer Huge Losses

Citimortgage Admits Liability On February 15th, 2012, in a clearly pre-negotiated deal between the US Attorney’s Office, on behalf of the Department of Housing and Urban Development and CITIMORTGAGE, INC. (a subsidiary of CITIBANK, N.A., and “CMI”), a complaint was filed against CMI in the US District Court in Manhattan and simultaneously settled for $158.3… Continue Reading