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Detailed text transcripts for TV channel - FOXNEWS - 20101116:14:07:00

Homes is in question, how far it goes, that is the key to how severe an impact it has on the system. martha: it s a bureaucratic nightmare, stuart. it is. martha: how do you foresee them figuring all this out? well, you can t work through this just like that. you can t waive a imagine wave a major wand and have the paperwork problems go away. you ve got to take it case by case. that means the foreclosure, it s not a moratorium, but the slowdown will be drawn out, which means that the foreclosure process is going to slow down. people in foreclosed homes will stay in them longer, but at some point when it s worked through, you re going to have literally hundreds of thousands of foreclosed homes dumped on the market. the result will be a sharp drop in housing prices, all over again. that s the crisis that they re talking about in the long term. martha: wow. that s quite a story. stuart, thank you. stuart varney of the fox business network, coming up just a few minutes from now ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101116:00:34:00

For using money from political action committee to pay for some his legal fees a source close to rangel though tells fox that s not true. shep? shepard: molly on capitol hill tonight. lisa murkowski is back on capitol hill for lame duck session as she may be closing in on historic re-election victory. she had to run as a write-in candidate because she lost the republican primary to the tea party favorite joe miller. the write-ins one. they won. they hope to finish counting ballots this week. she has the strongest win since this man strom thurman in 1954. paperwork problems forced a handful of lenders to suspend foreclosures. lawmakers will ask leaders of those banks what went wrong. senate banking committee has scheduled hearing tomorrow. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101028:23:23:00

Income boost in the third quarter earning more than $7 billion compared to 4.7 billion the previous year. we re told the jump is due to higher oil prices and an increase in production there is a new push tonight to give bankruptcy judges more power to modify people s home loans. the idea, link them to term or lower the rates to give people a second chance to be able to afford their payments and avoid foreclosure. this comes after reports that the treasury department s mortgage modification program helped fewer people than many had hoped. peter barnes at the fox business network joins us live from d.c. recent reports of paperwork problems could help their cause. that s right, shep. but maybe a small silver lining in all of this. democratic senator sheldon white house is pushing a proposal that is showing promise in his home state of rhode island. bankruptcy judges there have started a voluntary pre-trial mediation program that tries to step into the messy foreclosure ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101027:23:41:00

That the paperwork problems could trigger another bailout. if the investors lose confidence in the ability of banks to document ownership of mortgages, the financial industry could suffer staggering losses. but treasury officials repeated they do not believe the paperwork mess, shep, threatens the financial system. shepard: some of the fiercest criticism today was really directed at a program designed to help folks modify their loans and prevent foreclosures but the trouble is it s not helping nearly as many people as they had first hoped. well, that s right, shep. they questioned the effectiveness of the administration s 50 billion-dollar mortgage modification plan, one frustrated panel member went after the treasury official who runs it phyllis caldwell. more houses on the market right now. less houses on the market right now? and i would just say that if you have a home, whether it s in the. you are not answering my question, yes or no more or less? caldwell insisted ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101027:23:40:00

shepard: another major bank is admitting it made mistakes on tens of thousands foreclosure documents. this time it s wells fargo who says they plan to refile documents in some 55,000 cases across 23 states. that s notable because just two weeks ago they insisted their foreclosure documents were, quote, accurate, unlike other banks that have faced accusations of cutting corners as foreclosures piled up. wells fargo reports it has no plans to suspend foreclosure proceedings all together: meanwhile congressional watchdogs are looking into all those paperwork problems and today they demanded answers from the folks in charge of overseeing the industry. let s get to the fox business network beater varnes now in washington. they didn t get many answers at all, did they? well, shep, the congressional oversight panel for the government s bank bailout program asking the questions today some members concerned ....

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