Mortgage
FHA AND MINNESOTA HOUSING FINANCE AGENCY SIGN AGREEMENT TO HELP MORE MINNESOTANS ACCESS SAFER GOVERNMENT-INSURED MORTGAGES
June 27, 2008 Posted by Minnesota Real Estate
Minneapolis- HUD’s Federal Housing Administration and the Minnesota Housing Finance Agency (HFA) today announced a first-of-its-kind agreement to promote safer, affordable government-insured mortgages. The Memorandum of Understanding (MOU) forges a working relationship and commitment by the federal and state government to help Minnesotans continue to access safer and more secure FHA-insured mortgages.
Attorney General Lori Swanson Sues Six Mortgage “Foreclosure Consultants” for Violations of Minnesota Consumer Protection Laws
May 6, 2008 Posted by Minnesota Real Estate
Minnesota Attorney General Lori Swanson today filed six new lawsuits in Hennepin County District Court against foreclosure consulting companies that charged Minnesota homeowners up to $2,375 to save their homes but failed to provide promised assistance that would help them retain home ownership.
SenateE Passes Housing Relief Bill, Package Contains Coleman Provision to Keep Veterans in Their Homes
April 11, 2008 Posted by Minnesota Real Estate
MN Senator’s amendment triples foreclosure protection to 9 months for our men and women in uniform returning from active duty service
April 10th, 2008 - Washington, D.C. - Senator Norm Coleman today announced final Senate passage of the Foreclosure Prevention Act of 2008, bipartisan legislation that will help address the current housing crisis and also contains […]
ResCap Announces an Extension of the Early Tender Time of its Cash Tender Offer for up to $750 Million Aggregate Principal Amount of its Debt Securities
December 13, 2007 Posted by Minnesota Real Estate
MINNEAPOLIS, Dec. 13 /PRNewswire/ — Residential Capital, LLC (ResCap) today announced an extension of the early tender time for its previously announced cash tender offer for up to $750 million aggregate principal amount of its Floating Rate Notes due June 9, 2008, Floating Rate Notes due Nov. 21, 2008, 6.125 percent Notes due Nov. 21, […]
Wolters Kluwer Financial Services to Help Mortgage Servicers Implement Loan Modification Programs
December 12, 2007 Posted by Minnesota Real Estate
Leader In Doc Prep And Compliant Content Offers Servicers Standardized Loan Modification Agreements And Packages That Can Be Customized To Meet Specific Business Needs
MINNEAPOLIS, Dec. 12 /PRNewswire/ — Wolters Kluwer Financial Services announced today the company can now help mortgage servicers modify distressed subprime borrowers’ adjustable rate mortgages (ARMs) to make payments more affordable and […]
ResCap Announces Extension of the Early Tender Time of its Cash Tender Offer for Up to $750 Million Aggregate Principal Amount of its Debt Securities
December 6, 2007 Posted by Minnesota Real Estate
MINNEAPOLIS, Dec. 6 /PRNewswire/ — Residential Capital, LLC (ResCap) today announced an extension of the early tender time for its previously announced cash tender offer for up to $750 million aggregate principal amount of its Floating Rate Notes due June 9, 2008, Floating Rate Notes due Nov. 21, 2008, 6.125 percent Notes due Nov. 21, […]
GOVERNOR PAWLENTY ANNOUNCES INCREASED MORTGAGE FORECLOSURE PREVENTION EFFORTS
November 23, 2007 Posted by Minnesota Real Estate
~$1 million for early intervention, counseling; lenders encouraged to work with homeowners ~
Saint Paul – To further assist homeowners facing foreclosure, Governor Tim Pawlenty today announced an additional $1 million in state funding for early intervention efforts and foreclosure prevention counseling. The Minnesota Housing Finance Agency (MHFA) initiative will support efforts to reach homeowners before […]
Housing slump stings area banks
November 14, 2007 Posted by Minnesota Real Estate
Six from Twin Cities among 20 in the U.S. most exposed to failing construction loans
An intensifying housing recession is zapping community banks across the Twin Cities - not with belly-up mortgages, but with failing construction loans for the housing behind them.
GMAC Financial Services and ResCap Announce Restructuring of Mortgage Operations
October 17, 2007 Posted by Minnesota Real Estate
Fourth-Quarter Restructuring Charge Expected
MINNEAPOLIS, Oct. 17 /PRNewswire/ — GMAC Financial Services today announced it is restructuring its mortgage operations, Residential Capital, LLC (ResCap), as severe weakness in the housing market and mortgage industry continues to prevail. ResCap will streamline its operations and revise its cost structure, which will enhance its flexibility, allowing it to scale […]
Mortgage scam threatens 200 homes with foreclosure
September 26, 2007 Posted by Minnesota Real Estate
Brian Holden and Leah Johnson dreamed of a more comfortable home for their three kids. In June, the Burnsville couple thought they had found one.
