Redefaults a Problem, OCC’s Dugan Says

NEW YORK (CNNMoney.com) — It may seem obvious: Increasing how much troubled borrowers pay on their mortgage leads to redefaults. But that didn’t stop America’s banks. Until the end of last year.

OCC’s Dugan Says Reverse-Mortgage Borrowers Need More Protections . Read preview.. need to get out in front on this issue before problems develop. Dugan said reverse mortgages have "some of the same characteristics as the riskiest types of subprime mortgages–and that should set off alarm.

Having the OCC look at a whole passel of foreclosures and say, "See, the overwhelming majority were OK" would be an important step in turning the clock back to before the robosigning scandal broke. abigail field reported that an insider leaked that the process was being managed aggressively so as to ignore borrower problems.

Iowa AG: Banks may face criminal liability after robo-signing settlement AG Settlement Will Not Release Banks From Securitization Liability 09/06/2011 By: Krista Franks As state attorneys general and major U.S. banks continue to work toward a settlement, questions abound regarding the amount of legal liability the servicers should and will maintain after an agreement is signed.

WSJ Article on Redefaults – Safeguard Properties – John C. Dugan, the comptroller of the currency at a recent conference provided statistical data pertaining to the rate of redefaults (defaults following a loan modification). The following article from The Wall Street Journal? discusses the increased rates and several other efforts underway to address the foreclosure crisis.

Strong housing market helps reduce lingering foreclosure inventory Fannie, Freddie to raise g-fees in April Mel Watt’s first act overseeing Fannie Mae and Freddie Mac came before he officially started. Mel Watt’s first act overseeing Fannie Mae and Freddie Mac came before he officially started..Housing market improvement: An improvement in housing, typically a consumer’s largest asset, is a boost to net worth, and as a result, consumer confidence. However, a significant move higher in mortgage rates, which are now above 4.5%, could jeopardize the recovery.

NEW YORK (CNNMoney.com) — It may seem obvious: Increasing how much troubled borrowers pay on their mortgage leads to redefaults. we see problems there, it affects a much wider swath of mortgages.

BLOG VIEW: Modify A Loan?! Why Bother? – MortgageOrb – ‘Hey, you there, modifying that loan! Don’t waste your time. You know it’s only going to redefault, right?’. While not the exact message delivered by Comptroller of the Currency John C. Dugan last week, this sentiment – that mod efforts are largely fruitless – seems to be what resonated most with the general public and mainstream media, if news reports are any indication.

Home prices rise for first time in 18 months: RE/MAX Metro Phoenix home prices are set to hit a new record. Here’s where buyers may find deals. More than half of metro Phoenix neighborhoods saw double-digit price gains in 2018, the Arizona Republic.

 · For years, John Dugan waged a war against the economy as a top bank lobbyist. Then George W. Bush made him the top U.S. bank regulator. Of.

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 · It’s official: The Recording Academy Board of Trustees has appointed deborah dugan as the next President/CEO of the Recording Academy, the society of.

Comptroller of the Currency John C. Dugan told the Senate Banking Committee today that the goal of the Basel II Capital Framework – and a separate initiative for smaller institutions – will substantially enhance safety and soundness.

Redwood Trust: 4 optimistic opportunities ahead for mortgage REITs Redwood Trust, a real estate investment trust that specializes in buying and securitizing jumbo mortgages, is set to expand into investor-focused loans thanks to a new deal with 5 Arches.