WASHINGTON, DC - A federal court ruled last week that Countrywide, formerly the largest mortgage company but now owned by Bank of America, must now have their Mortgage Backed Securities (MBS) Investor’s approval before issuing the terms of the loan modification to the borrower. Previously, Countrywide, along with many other lenders, assumed that because of the [...]

NASHVILLE, TN -  At 6AM on Saturday morning, with the sun just beginning to take flight over the horizon, while in the solitude of birds chirping, water bubbling and my fly rod swaying to and fro, it  dawned on me that closing short sales is much like fly fishing.  Unlike other types of fishing, fly fishing requires a number of details to be executed correctly in [...]

The Department of the Treasury is about to release a plan geared towards making the short sale process faster and easier.   Representatives from 25 major mortgage servicers were called to Washington, D.C., last month to discuss improvements to the current Obama administrations’s Housing Rescue Plan.  As you can probably guess, the Feds have more motivation to speed up and [...]