U.S. Sen. Barbara Boxer (D-CA) has urged federal officials to launch an investigation of reports that banks are failing to comply with the terms of the Nationwide Mortgage Servicing Settlement, and to take action to ensure that banks live up to their legal obligations to consumers. In a letter to Servicing Monitoring Committee members Attorney General Eric Holder, Secretary of the U.S.Click to continue

U.S. Sens. Robert Menendez (D-NJ) and Barbara Boxer (D-CA) have unveiled legislation to help millions of responsible homeowners refinance at lower rates and save thousands of dollars each year. The senators originally introduced this legislation in the 112th Congress. “We need to bring much-needed relief now to hard working, responsible homeowners who are struggling to keep up with their high interest rate loans—including thousands in New Jersey whom I have heard from,” said Sen. Menendez. “We need to do this before interest rates go up again.Click to continue

United States Senators Barbara Boxer (D-CA) and Johnny Isakson (R-GA) joined eight of their colleagues in urging the Obama Administration to ensure that the greatest number of borrowers possible are able to take advantage of the newly-announced housing reforms to streamline the refinancing process and reduce costs. Specifically, the Senators requested that the proposed reforms be extended to higher equity borrowers with non-delinquent Fannie Mae or Freddie Mac-backed loans, arguing that these borrowers should have the same access to simple, low-cost refinances as those targeted by the Click to continue

The Federal Housing Finance Agency (FHFA), along with Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), has announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their mortgage. Dubbed HARP Phase II, the program enhancements were developed at the direction of the FHFA, with input from lenders, mortgage insurers and other industry participants.Click to continue

A coalition of United States Senators from both sides of the aisle, led by Barbara Boxer (D-CA), Johnny Isakson (R-GA) and Robert Menendez (D-NJ), have joined 13 of their colleagues in urging the Obama Administration to quickly implement administrative reforms to help millions of responsible homeowners refinance and take advantage of today’s record low interest rates. With interest rates at an all-time low hovering around the four percent range, the senClick to continue

This week, the Senate Banking Committee held a hearing titled, "New Ideas for Refinancing and Restructuring Mortgage Loans," discussing the future of mortgage financing in America.Click to continue

U.S. Sen. Barbara Boxer (D-CA) has introduced the Helping Responsible Homeowners Act of 2011, which would remove barriers that are preventing non-delinquent borrowers from refinancing their mortgages and taking advantage of historically low interest rates. The legislation aims to help borrowers who continue to make their mortgage payments on time, but whose homes have lost value during the real estate crisis.Click to continue