Amid growing concern regarding the possible mishandling of delinquent mortgages, mortgage modifications, and foreclosures by certain financial institutions, the White House said yesterday that President Obama will veto legislation requiring states to recognize notarizations performed in other states.
It is being widely reported in the press that J.P. Morgan Chase (J.P. Morgan) announced today that it will freeze some of its foreclosures, mirroring a similar announcement by Ally Financial Inc.’s GMAC mortgage unit (Ally) last week that Ally is suspending evictions and post-foreclosure proceedings.
Today, the Financial Crisis Inquiry Commission (FCIC) held a field hearing in Bakersfield, California entitled "The Impact of the Financial CrisesGreater Bakersfield.
Yesterday, the House Committee on Oversight and Government Reform held a hearing entitled, "Foreclosure Prevention: Is the Home Affordable Modification Program Preserving Homeownership?"
Today, the U.S. Department of the Treasury (Treasury) issued a press release highlighting key components of President Obama’s budget for fiscal year 2011.
On July 9, 2009, the House Subcommittee on Commercial and Administrative Law held a hearing entitled "Home Foreclosures: Will Voluntary Mortgage Modification Help Families Save Their Homes?" to discuss how to effectively respond to the residential foreclosure crisis.