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Entries in HARP (3)

Wednesday
Sep032014

Financial Institutions . . . In the News

  • Mortgage refinancing is available to many homeowners through HARP, but Americans are skeptical.  (MPBN 8.26.14)
  • Coordinated hacker attacks struck JP Morgan and other banks.  (New York Times 8.27.14)
  • Bank of America is close to a $16-17 billion settlement with Justice Department over sale of mortgage-backed securities.  (Portland Press Herald 8.6.14)
  • Maine ranks 30th in nation for mortgage closing costs.  (Mainebiz 8.4.14)
  • FAME increases loan-insurance by 50% or up to $375,000 for commercial borrowing.  (Portland Press Herald 8.4.14)
  • U.S. Senators introduce legislation to provide regulatory relief to small financial institutions and credit unions.  (Insurance News.net 7.13.14)
  • Why the economy is still stifled after the housing collapse.  (MPBN 7.24.14)
  • U.S. House votes to change banking laws related to the marijuana industry.  (MSN 7.17.14)
  • Maine Supreme Court rules MERS’ has limited ability to assign mortgages in Bank of America, N.A. v. Greenleaf.  (Mondq.com 7.16.14)
Thursday
Jul102014

Financial Institutions...In the News

  • Many borrowers suspicious of Home Affordable Refinance Program (HARP).  (Portland Press Herald 7.8.14)
  • Maine in top 5 of states with highest foreclosure inventory.  (Market Watch 7.8.14)
  • NBT plans to open branch in Portland, Maine. (Bangor Daily News 7.2.14) 
  • Many states have job levels at pre-recession levels even though the nation has regained all 9 million jobs.  (Portland Press Herald 7.2.14)
  • William J. Ryan to become board chair of Berkshire Hills Bancorp (Portland Press Herald 7.1.14)
  • Maine home sales increase 7.3% while sales prices decrease 4.8%.  (Portland Press Herald 6.25.14)
  • SunTrust Mortgage settles robo-signing dispute. 185 Mainers helped, according to Attorney General Janet Mills.  (Bangor Daily News 6.19.14) 
  • The FBI, several foreign governments and security firms break up sophisticated financial crime ring.  (Portland Press Herald 6.4.14)
Thursday
Oct272011

FHFA Announces Modification to Home Affordable Refinance Program

On October 24, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, announced changes to the Home Affordable Refinance Program.  The program was originally introduced two years ago to help homeowners struggling with their mortgage payments, but the program failed to help as many homeowners as predicted.  According to the FHFA announcement, the modified HARP program will include lower fees and closing costs to better enable consumers to refinance their homes.  More detailed guidance on the program is expected by November 15, but the FHFA noted that the availability of the program will depend on individual lenders since the program is not mandatory.