Your Daily Dose from DS News

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From: "DSNews.com Editor"
Date: Wed, 9 Sep 2009 04:02:47 -0400
To: Rob<roballeyrealtor@gmail.com>
Subject: Your Daily Dose from DS News

Email not displaying correctly? View it in your browser. Wells Fargo Under Fire for Denied Modifications In a fairly unusual move, a senior Wells Fargo executive was summoned to court by a bankruptcy judge to answer pointed questions about the bank's mortgage modification practices. Observers say the case underscores the frustrations of a growing number of homeowners seeking mortgage relief under the government's modification program, as well as rising concerns from bankruptcy judges, in particular, over servicers' record-keeping and business procedures. Rise in Toxic Asset Prices May Set Back Government-Funded Purchases The administration's plan to take toxic assets off banks' balance sheets may be set back by an unexpected Catch-22 - prices of these assets have risen in the past several weeks, partly in anticipation of the government-funded plan. The rise in prices of mortgage-backed securities and other mortgage-related bonds could hit the Public-Private Investment Program (PPIP) in two ways: lower returns for private investors and less pressure for banks to sell off assets. As Defaults Mount, FHA Fights Concerns over its Coffers Concerns are mounting that the Federal Housing Administration is overexposed to increasingly toxic mortgages and may require a bailout by Congress, even as the agency's head assured reporters that its mortgage insurance fund was in good shape and wouldn't require an infusion. Title Insurer Loses Defense Team in California Class Action Cases First American Title Insurance had a California judge disqualify its defense counsel as it fends off four class action suits in the state. The cases are similar to those the company has faced in other states, and involve allegations that First American is charging customers higher rates for title insurance than is authorized. You are receving this email because you opted in at our website dsnews.com. Unsubscribe roballeyrealtor@gmail.com from this list. Our mailing address is: DS News 2603 Oak Lawn Avenue Suite 500 Dallas, TX 75219 Add us to your address book Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2009 Five Star Conference DARE