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Morning Reading 01/15/2009

by phillenbrand on January 15, 2009

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Bank Industry Slams Citigroup Mortgage Deal - The American Bankers Association thinks giving bankruptcy courts more authority in forcing cram-downs will increase the cost of mortgage lending.

Foreclosures More Than Doubled In 2008 - U.S. foreclosures increased by 81% over 2007.  Nevada, California, Arizona & Florida top the list.

Bankruptcy System Takes On The Mortgage Mess - The Federal Bankruptcy Court System supports the Debtors Counsel Loss Mitigation Web Portal.  It’s a privately owned  company that allows Attorneys to consolidate their bankruptcy cases and deal with negotiations with lenders all in one place.

MBA Weekly Application Survey - Record Low Mortgage Rates Boost Refi Activity.

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