Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (12/25/2008)
* WASHINGTON (12/26/08)--The Office of the Comptroller of the Currency and the Office of Thrift Supervision Monday released a second report on mortgage performance. According to the report, newly initiated foreclosures dropped 2.6% from the second to third quarter, new loan modifications increased 16% to 133,000, and the number of loans modified in the first quarter that were 30 or more days delinquent was 37% after three months and 55% after six months. Banks and thrifts continue to work with borrowers to mitigate losses and keep them in their homes. Newly initiated home retention actions increased 13% from the second quarter to the third quarter, the report said ... * WASHINGTON (12/26/08)--The Hope Now alliance released a statement Monday indicating that it expects to double loan modifications in 2009. Hope Now’s 11-month data also projected that this year, there were 2.2 million foreclosure preventions, 950,000 mortgage modifications, more than 20,000 homeowners helped at 29 workshops, more than one million calls from homeowners to the Hope hotline, and an 18% response rate to 2.9 million letters sent by Hope Now to at-risk homeowners. Hope Now is an alliance of mortgage market participants, mortgage servicers and counselors that aims to help homeowners ... * WASHINGTON (12/26/08)--The Bush administration is planning to stop the Federal Housing Administration’s (FHA) refinancing program, FHASecure, at the end of the year, industry observers said (American Banker Dec. 23). The program was slated to expire at the end of 2008 after helping 460,000 subprime borrowers refinance, but some consumer groups have encouraged the Department of Housing and Urban Development and the White House to keep it through next year. FHASecure allowed borrowers to refinance into fixed-rate mortgages and was expected to help homeowners who were behind on payments, but it refinanced only 4,000 delinquent borrowers ...


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
13 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
18 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
18 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
20 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
20 hours ago