MLS Real Estate & Listings Blog

Secretary of Housing and Urban Development Alphonso Jackson announced today he will step down next month in the face of investigations involving allegations of favoritism and calls from Democrats for his resignation.

Jackson’s resignation, effective April 18, leaves open the possibility that HUD will be led by an interim chief in the final months of a lame-duck administration, even as the department implements a major expansion of FHA loan programs and pushes for an overhaul of the Real Estate Settlement Procedures Act, or RESPA.  more…

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It’s easy to complain about government paperwork, but sometimes something as seemingly simple as a new form can be worth much more than the paper it’s printed on. Such is the new standardized and borrower-friendly Good Faith Estimate that has been proposed by the U.S. Department of Housing and Urban Development.  more…

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Federal regulators say they’re giving Fannie Mae and Freddie Mac additional leeway to buy up to $200 billion in mortgages and mortgage-backed securities by relaxing stringent capital requirements put in place in 2004 in the wake of management and accounting scandals.  more…

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A private equity firm headed by billionaire Wilbur Ross would become the second-largest servicer of subprime loans — collecting payments on about half a million mortgages — if it closes a deal to acquire the servicing business of Option One Mortgage Corp.  more…

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Countrywide Financial Corp. is reportedly one of more than a dozen companies under investigation by the FBI as it looks into the packaging of subprime loans as securities sold to Wall Street investors.  more…

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