Mortgage Information

Consumer bankruptcy filings during August fell 8 percent from July, the American Bankruptcy Institute reported.

The decline followed a bounce in July.

Year-to-date Aug. 31, 2010, filings totaled 1,034,843.

Read more here:
2010 Bankruptcies Top 1 Million

In an appearance before the Financial Crisis Inquiry Commission, regulators testified about the why there was disparate treatment in the resolution of Washington Mutual Inc. and Wachovia Corp.

The Federal Deposit Insurance Corp.’s chairman said the FDIC had known for months that WaMu was in trouble.

But with Wachovia it didn’t know until very late in the game how dire the situation was.

In addition, Wachovia was deemed systemically important.

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Wachovia Vs. WaMu Debated by Regulators

The number of mortgage jobs was up by 2,300 positions in July, according to data released Friday by the U.S. Department of Labor.

Headcount in “real estate credit” was up by nearly 3,000 jobs.

But “mortgage and nonmortgage loan brokers” saw their numbers decline by around 500 positions, the government data indicated.

Read more:
Surprise Increase in Mortgage Jobs

Western Corporate Credit Union failed in 2009.

The National Credit Union Association said in a federal lawsuit that former executives of the company committed fraud in the years that led up to its failure.

The complaint names 16 former WesCorp executives and directors.

See the original post:
$1 Bil Lawsuit Filed against Credit Union Execs

Home-loan delinquency of at least 90 days, including foreclosures, fell 12 basis points in July, Lender Processing Services Inc. reported.

Excluding foreclosures in process, the delinquency rate was 22 BPS

The acquisition of HomeEq Servicing by Ocwen Financial Services has completed.

Ocwen said that it plans to close a facility in Raleigh, N.C., and eliminate 242 jobs.

Around 900 California employees are being laid off later this year as the company’s facility in that state closes.<

The rest is here:
Over 1,000 Layoffs as Servicer Offices Close

On overall bank loan assets, delinquency of at least 90 days fell 4.8 percent, according to the Quarterly Banking Profile from the Federal Deposit Insurance Corp.

It was the first quarterly decline since the beginning of 2006.

Quarterly earnings for the sector were $21.6 billion.

Banks lost $4.4 billion in the same period last year.

Here is the original post:
Bank Performance Improves

A Federal Deposit Insurance Corp. official testified before the Financial Crisis Inquiry Commission about how the FDIC

Ocwen Loan Servicing has closed on its acquistion of HomEq.

Inside accounts from employees at HomEq raised the possibility of several hundred layoffs in coming days and weeks.

But Ocwen didn’t respond today to repeated requests for comment.

Credit:
Employees Await Fate as Subprime Servicer Acquired

Six prime Dallas Cowboys season tickets were auctioned to a Dallas-based ticket broker for $241,000.

The package was sold by the Internal Revenue Service to help address tax debt owed by Lending.com.

The ticket package fell to the IRS after attempts to settle the debt failed, an IRS