Show me the MORTGAGE money!

Fed Governor Says Housing and Banking Industry Owes America...

by Jann Swanson

Federal Reserve Governor Sarah Bloom Raskin called out housing finance players in a speech on Friday, reminding them of the "low road" they traveled before the housing collapse and the debt they owe the American people for rescuing them from their excesses.  She also told her audience that reforming the servicing industry is "the key to economic recovery."

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Mortgage News Daily

Sharp words about Wall Street and Washington...

Financial Crises Inquiry Commission

N.J. Threatens to Block Foreclosures .....WSJ

By LISA FLEISHER

New Jersey courts are threatening to block six major lenders from foreclosing on most homeowners unless they can prove their process is sound.

In response to errors blamed on so-called "robo-signers" and other potential shortcuts, judges on Monday ordered six lenders to defend their foreclosure practices and 24 others to produce reports on their process.

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N.J. Threatens to Block Foreclosures .....WSJ

Survey: Americans Growing More Cautious on Housing

By Nick Timiraos

Americans’ attitudes about owning a home dipped slightly during the third quarter, according to a Fannie Mae survey.

Some 68% of those surveyed think it’s a good time to buy a home, down two percentage points from June, while the number of Americans who think it’s a bad time to buy increased by three percentage points, to 29%. The number of those surveyed who think it’s a bad time to sell also increased by two percentage points to 85%.

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...So You Want to Walk Away from the Mortgage…WSJ

By Emily Peck

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WSJ.com columnist Brett Arends has advice for an Illinois man who is underwater on a mortgage and unsure about whether or not to abandon ship. He and his wife are current on payments, but will likely fall behind when their adjustable-rate mortgage resets in about a year. They considered a “short sale,” selling the house for less than is owed on the mortgage, but the lender said it would come after them for the shortfall.

read more...  http://blogs.wsj.com/developments/2010/03/17/so-you-want-to-walk-away-from-the-mortgage/

...The Big Picture...WSJ Mortgage Rates Hover Around 5%, For Those Who Can Qualify..

By Nick Timiraos

Policy makers have helped spur a wave of refinancing by driving mortgage rates to record lows for much of the past year, but high rates of negative equity, tighter lending standards and falling incomes have made it much harder for a wide swath of borrowers to take advantage of those rates. (See “Borrowers Miss Out on Billions in Savings.”)

http://blogs.wsj.com/developments/2010/03/03/mortgage-rates-hover-around-5-for-those-who-can-qualify/?KEYWORDS=Timiraos#