Mortgage Assistance

Robo-signing and dual tracking wrongfully foreclosed on homes all across the country. Almost every state will accept the $26 billion federal settlement — all except Oklahoma. Weekends on All Things Considered host Guy Raz speaks with Oklahoma Attorney General Scott Pruitt about why he chose to opt his state out of the federal foreclosure abuse settlement.

On Thursday, the federal government reached a $26 billion deal with the nation's largest banks to compensate homeowners. In Florida, where a lawyer uncovered and named the rushed mortgage-approval process, some lawyers and homeowners say technical issues and trust battles remain for courts and the banks.

The $26 billion settlement reached by the federal government, most states and the nation's largest banks to compensate homeowners for abusive foreclosure practices is unlikely to end the housing crisis, analysts say. It could also lead to a new round of foreclosures, which would drive prices even lower.

Officials have been pressing five banks to offer mortgage relief and some financial aid to homeowners who got crushed when the housing bubble burst or were caught up in the "robo-signing" scandal that sped up the foreclosure process.

A federal watchdog confirmed it is looking into Freddie Mac investments that act as bets against homeowners being able to refinance. In addition, U.S. senators are expected to probe Freddie Mac's investment practice at a hearing on Capitol Hill on Thursday.

Sen. Robert Casey, D-Pa., today sent a series of questions to Freddie's regulator, highlighting how much remains unknown about the mortgage giant's controversial bets against American homeowners.

Two senators who have taken the lead on legislation aimed to help homeowners refinance are blunt about how concerned they are by the news NPR reported about Freddie Mac's "multibillion-dollar bets against American homeowners being able to refinance."

Freddie Mac last month said it would stop making risky bets against homeowners after concerns were raised by its regulator, the Federal Housing Finance Agency. The statement by the FHFA was issued in response to an investigation by NPR and ProPublica that disclosed how Freddie Mac bought billions of dollars in securities that turned a profit if homeowners remained stuck in high rate mortgages. The White House said the Treasury Department is looking into Freddie Mac's investments. Steve Inskeep talks with NPR's Chris Arnold and Jesse Eisinger of ProPublica about their report.

Lawmakers and prominent economists on Monday called for changes at the taxpayer-owned mortgage company after NPR, in partnership with ProPublica, revealed that Freddie Mac has placed multibillion-dollar bets against American homeowners.

NPR and ProPublica have found that Freddie Mac, the giant government-owned mortgage company, has been placing financial bets against homeowners. Specifically, Freddie Mac has made targeted investments that pay off if homeowners are unable to refinance their mortgages. At the same time, Freddie has been making it harder for many homeowners to get new loans.