ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 09/07/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL –  09/07/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL –  09/07/2011 list has  been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These  are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

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In a move that some analysts fear could lead to further tightening in  residential mortgage lending, Fannie Mae and Freddie Mac’s regulator  has sued 17 banks to recover billions in losses on “private label”  mortgage-backed securities the mortgage giant purchased during the  housing boom.

Fannie and Freddie bought the securities — pools of subprime  and “alt-A” loans considered too risky or large to qualify for their  own guarantee programs — as investments before the companies were  placed under government conservatorship in 2008.

The Federal Housing Finance Agency, which as conservator of Fannie and Freddie is charged with minimizing their losses, announced Friday  it was suing 17 financial institutions, claiming some of the losses the  mortgage giants have racked up on private-label MBS were due to  “misrepresentations and other improper actions.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

FHFA alleges that  some of the loans backing the securities “had different and more risky  characteristics than the descriptions contained in the marketing and  sales materials provided to the (Fannie and Freddie) for those  securities.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Some of the biggest names in the business are named in the lawsuits, including Ally Financial, Bank of America Corp., Barclays Bank PLC, Citigroup Inc., Deutsche Bank AG, Goldman Sachs & Co., and JPMorgan Chase & Co.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 09/07/2011
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