Mortgage Assistance

12:53am

Wed April 11, 2012
Crisis In The Housing Market

Fannie, Freddie Weigh Mortgage Write-Downs

A pre-foreclosure sign is seen in front of a home in Miami. Supporters of a plan to reduce the principals owed by many homeowners facing foreclosure say it would prevent larger losses and keep people in their homes.
Joe Raedle Getty Images

Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.

This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.

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3:03am

Fri March 23, 2012
Crisis In The Housing Market

Fannie, Freddie Press For Mortgage Write-Downs

A Fannie Mae/Freddie Mac mortgage services representative (left) helps a person register for mortgage help in Miami.
Joe Raedle Getty Images

The two most powerful entities in the housing market — Fannie Mae and Freddie Mac — could be on the verge of a significant change regarding foreclosures. NPR and ProPublica have learned that both firms have concluded that giving homeowners a big break on their mortgages would make good financial sense in many cases.

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3:40pm

Wed February 29, 2012
Crisis In The Housing Market

Fannie, Freddie Won't Write Down Mortgage Principal

Many experts say reducing mortgage principal can help troubled homeowners stay in their homes. But two of the nation's largest mortgage holders, Fannie Mae and Freddie Mac, have not signed on to the idea.
Justin Sullivan Getty Images

Despite some green shoots in the economy, the housing sector remains weak. With 11 million Americans still underwater on their mortgages, some housing experts believe it's time for more dramatic solutions.

The idea of reducing the principal on the loans of underwater homeowners used to be a fringe concept, embraced by a few outliers. Today, many policymakers believe principal reduction is necessary to keep some troubled homeowners afloat.

But so far, the nation's biggest mortgage holders, Fannie Mae and Freddie Mac, haven't embraced the idea.

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9:48am

Tue February 21, 2012
The Two-Way

High Court Will Weigh Discount Fees In Quicken Mortgage Case

Originally published on Tue February 21, 2012 10:35 am

The U.S. Supreme Court hears arguments Tuesday in a case testing whether it is illegal for mortgage lenders to tack on fees to closing costs for services that were not provided. The case was brought by three Louisiana couples who claim their lender violated a 1974 federal law aimed at preventing abusive practices in real estate closings.

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3:22pm

Sat February 11, 2012
Economy

N.C. Regulator Tapped To Handle $25B Mortgage Deal

There was one little-noticed part of this week's announcement about the $25 billion national mortgage settlement. North Carolina's banking commissioner, Joseph Smith Jr., will take over a new role and serve as independent monitor. He'll oversee the five banks which agreed to new mortgage loan servicing and foreclosure standards.

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