WASHINGTON – Oct. 28, 2008 – Each day from July through September, more than 2,700 Americans lost their homes in foreclosure.
That number, up from 1,200 per day a year ago, is a sign that the mortgage industry and government programs have done little to help troubled homeowners.
The mortgage market’s troubles have proved to be far [...]

With financial institutions reeling from coast to coast, what does it all mean to the housing and mortgage markets whose problems triggered these catastrophes?
Believe it or not, the past eight days provided a dose of good news, at least in the short term, because mortgage rates are down. Long-term impact is harder to predict – [...]

U.S. Department of Housing and Urban Development Secretary Steve Preston announced that 300,000 families have refinanced their mortgages with HUD’s affordable mortgage insurance program. Since September 2007, FHASecure – the Federal Housing Administration (FHA) refinancing product – has provided struggling families with expanded access to safe and affordable mortgage financing. FHA is on pace to [...]

NEW YORK – July 31, 2008 – Guess who holds your mortgage now? It’s your friendly neighborhood hedge fund.
Dozens of hedge funds, private equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans and foreclosed properties around the country. They hope to profit [...]