Mortgage Lienstripping Proposal Returns as Part of Financial Regulatory Bill
House Judiciary Chairman John Conyers (D-Mich.) has submitted an amendment to the financial overhaul package that would allow a bankruptcy judge to modify the terms of a home mortgage, including reducing the principal… Read More

Treasury Summons Mortgage Lenders to Meet on Loan Modifications
The Treasury Department summoned Bank of America Corp., Citigroup Inc. and other mortgage servicers to Washington, D.C., yesterday to accelerate U.S. foreclosure prevention efforts ahead of a year-end deadline for some loan modifications… Read More

Report: CMBS Loan Defaults Rose to Record in Third Quarter
Delinquencies on commercial mortgage-backed securities (CMBS) increased to a record in the third quarter as unemployment rose and landlords struggled to retain tenants… Read More

SEC Charges Former Executives of New Century with Fraud
The Securities and Exchange Commission filed civil fraud charges against three former executives of mortgage lender New Century Financial Corp., alleging that they misled investors and improperly overstated profits… Read More

Judge Rebuffs Alternative Reorganization Plan in Six Flags Bankruptcy
Bankruptcy Judge Christopher Sontchi said yesterday that Six Flags Inc. can keep its exclusive right to file its chapter 11 reorganization plan, overruling objections from a group of noteholders that sought to offer their own plan… Read More