By Ben Rooney, staff reporterOctober 5, 2010: 6:32 PM ET
NEW YORK (CNNMoney.com) -- Pressure is mounting on U.S. banks to halt more foreclosures amid widespread allegations that loan servicers failed to verify legal documents in what could be hundreds of thousands of cases.
Members of Congress from California wrote to the heads of the Justice Department, the Federal Reserve, and the Comptroller of the Currency on Tuesday, requesting that they investigate the foreclosure processes of banks under their purview for "possible violations of law or regulations."
In Texas, the Attorney General's office sent "suspension notices" to 30 loan servicers in the state, asking them to halt foreclosures until they have completed a review of their procedures. The Attorney General in Massachusetts also urged financial institutions in the state to put a hold on all foreclosures.
The moves come after Ally Financial, JPMorgan (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) all announced plans last week to freeze foreclosures in the 23 U.S. states where they must be approved by the courts.
CLICK HERE FOR FULL ARTICLE
Showing posts with label market factors. Show all posts
Showing posts with label market factors. Show all posts
Thursday, October 7, 2010
Thursday, August 19, 2010
Most Powerful Figure in DC Real Estate: Michelle RHEE
NBC Washingtons' Blog Reports
Updated 8:31 PM EDT, Wed, Aug 18, 2010It’s not my beat, but I hear that schools chancellor Michelle Rhee is a big deal in this here mayoral race.
Here’s how she ties in to real estate, though: It’s a pretty widely-acknowledged principle that good schools are a huge factor in local property values. Until recently, that didn’t hold so much in D.C., since anyone of any means would shell out for private schools or move out of the District once their kids entered kindergarten. Now, getting into the right district for a high-performing school is a key element in the housing search.
Don’t believe me, believe Tommy Wells, who just came out with a new spot discussing neighborhood schools: “We have had a renaissance,” Wells says. “Just to see the excitement of the realtors who are so happy with me because now people say, ‘not just are we in the boundaries for the cluster, but are we in the boundary for Brent, are we in the boundary for Maury, are we in the boundary for Tyler…Really no other urban area in America has had so many traditional elementary schools come back online as schools of choice in such a concentrated area.”
CLICK HERE FOR FULL ARTICLE
By LYDIA DEPILLIS - HOUSING COMPLEX
Updated 8:31 PM EDT, Wed, Aug 18, 2010It’s not my beat, but I hear that schools chancellor Michelle Rhee is a big deal in this here mayoral race.
Here’s how she ties in to real estate, though: It’s a pretty widely-acknowledged principle that good schools are a huge factor in local property values. Until recently, that didn’t hold so much in D.C., since anyone of any means would shell out for private schools or move out of the District once their kids entered kindergarten. Now, getting into the right district for a high-performing school is a key element in the housing search.
Don’t believe me, believe Tommy Wells, who just came out with a new spot discussing neighborhood schools: “We have had a renaissance,” Wells says. “Just to see the excitement of the realtors who are so happy with me because now people say, ‘not just are we in the boundaries for the cluster, but are we in the boundary for Brent, are we in the boundary for Maury, are we in the boundary for Tyler…Really no other urban area in America has had so many traditional elementary schools come back online as schools of choice in such a concentrated area.”
CLICK HERE FOR FULL ARTICLE
Subscribe to:
Posts (Atom)
