There doesn't seem to be anything under the sun that Costco doesn't sell, including mortgage loans. The retailer's new online financial offering had been in testing mode for the past year, and it has worked so well that it has now been launched publicly.
The government's consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments.
Attention homeowners! Whether you're current or in default make sure to scrutinize your mortgage bank's math. As recent court testimony explains, there's a chance that the bank is wrong about how much you owe -- particularly if you're behind on payments.
State attorneys general and federal regulators are rushing to settle the robo-signing foreclosure mess created by the banks and get the real estate market back on its feet. But their proposals don't fully address the one of the fundamental problems of the crisis: Who really owns all those homes?
Almost as soon as regulators proposed a settlement for the mortgage mess that would require banks to obey the law, the banks' Republican allies began trying to weaken it through obfuscation and confusion. Read on for some plain English translations of their arguments against the settlement.
Executives from the mortgage servicing industry testify before the Senate today, and they'll try to save face by apologizing for their industry's role in the foreclosure mess. But don't believe the hype.
Even as the impact of the ongoing debacle slowly unfolds, it's not too early to tote up a list of 10 far-reaching developments that have already happened. None bodes well for the U.S. housing market, banks or economy.
A massive loss of confidence in the foundations of property rights and rule of law has occurred. And this loss is having a devastating impact on the housing market.