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- Steamline Refinance, Verification of EmploymentForum: FHA Loans, Requirements & Rates Posted By: twojp Post Time: 05-24-2012 at 10:30 AM […]
- Best Place to liveForum: Best Places to Live Posted By: miamirealest Post Time: 05-24-2012 at 10:11 AM […]
- Secured loan against paid off house... good credit, income under the tableForum: Home Equity Loan Posted By: entrepreneurguy Post Time: 05-24-2012 at 09:38 AM […]
- bank profits, shows how much they aren't hurtingForum: The Lounge - Anything goes here! Posted By: marvelrules Post Time: 05-24-2012 at 09:35 AM […]
- Need some advice...HAMP application in reviewForum: Wells Fargo Home Mortgage Posted By: brandoncheah Post Time: 05-24-2012 at 09:22 AM […]
- Do I need to be concerned about "added charges?"Forum: Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Posted By: Ricky Suerte Post Time: 05-24-2012 at 09:07 AM […]
- edited posting for unbiased advise on FHA Mod through BofAForum: Bank of America Home Loans Posted By: EsawyertoriEvenpatterson Post Time: 05-24-2012 at 08:09 AM […]
- 2012 Michigan foreclosure time lineForum: Stop Foreclosure and Tell Us Your Story Posted By: michiganboa Post Time: 05-24-2012 at 08:06 AM […]
- Wanted: Lender successful at closing Freddie Mac HARP CONDO refisForum: Refinance Posted By: flacondoer Post Time: 05-24-2012 at 06:42 AM […]
- Bank of America recently charged our HELOC offForum: Bank of America Home Loans Posted By: holdingtohope Post Time: 05-24-2012 at 06:04 AM […]
August 2011
Mortgage Modification Scam via Freedom Companies Lending aka Freedom Financial Mortgage
(Source: BBB) – Boise, Idaho . . . Gavin Gee, director of the Idaho Department of Finance, today warned that a company calling itself Freedom Companies Marketing, Inc., Freedom Companies, Inc., Freedom Companies Lending, and Freedom Financial Mortgage (Freedom) has [...]
Real Estate Agent Charged in Scheme
SEAL BEACH (Source: Press Telagram By Tracy Manzer) — A Seal Beach real estate agent has been charged with 34 felony counts in connection with a scheme that saw victims buy into a fake investment pool to the tune of [...]
Two Arrested in Real Estate Fraud Case
(Source: The Press Enterprise BY LESLIE BERKMAN) – Two men have been arrested by the San Bernardino County district attorney’s real estate fraud unit and charged with forgery and recording fake documents in an alleged scheme to defraud homeowners trying [...]
In 50-State Foreclosure Negotiations, Dispute Underlines Basic Questions
(Source: The Washington Post By Brady Dennis) – A recent and acrimonious dispute among state officials over a possible legal settlement to address nationwide mortgage abuses is underscoring basic questions about what the effort should accomplish.
5 Tips for Refinancing a Mortgage Today
BOSTON (Source: MainStreet By Jerold Leslie) – Fears of a “double-dip” recession and the possibility of a widening European debt crisis have lowered U.S. mortgage rates to levels not seen in more than half a century.
Subprime Mortgage Bonds Get AAA Rating From S&P Denied to U.S.
Aug. 31 (Source: Bloomberg Businessweek By Zeke Faux and Jody Shenn) – Standard & Poor’s is giving a higher rating to securities backed by subprime home loans, the same type of investments that led to the worst financial crisis since [...]
Bank of America Slashes Mortgage Business
NEW YORK (Source: TheStreet By Philip van Doorn) – For Bank of America (BAC), exiting the correspondent mortgage business is a major, painful move to shrink its balance, boost capital ratios and shore-up control of its mortgage credit quality.
New York’s New AG Stands Up to Big Banks
(Source: Chron) – So here’s Eric Schneiderman, of whom you’ve probably never heard, who last year was elected attorney general of the state of New York, a job that arguably makes him the third most-influential state officeholder in the nation, [...]
Is Another Bank Bailout Brewing?
(Source: MarketWatch By Kurt Brouwer) – If you thought the $800 billion TARP program was the end of our government’s bailout bonanza for wayward banks, you’re wrong. If you thought the Fed’s secret $1.2 trillion loan program for foreign and [...]
Bank of America Kept AIG Legal Threat Under Wraps
(Source: Reuters By Lauren Tara LaCapra) – Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was [...]
Wells Fargo Jumps on Commercial Deals
(Source: Wall Street Journal BY ELIOT BROWN) – At a time when the U.S. banking sector is reducing its exposure to commercial real estate, Wells Fargo & Co. has taken a different approach: expanding lending to the sector while also [...]
Banks Waive Fees in States Hit by Irene
NEW YORK (Source: By Candice Choi, AP Personal Finance Writer) — Several banks are waiving a variety of fees for customers hard hit by Hurricane Irene.
Banks Ring Up Their Cash-Strapped Customers to Warn Them: ‘Ditch Mobiles and Gym Membership or Lose Your Home’
(Source: Daily Mail Online By Chris Brooke and Becky Barrow) – Cash-strapped homeowners are being telephoned by their banks and told to cut spending on ‘luxuries’ – or risk losing their homes.
French Banks Hold €7.6 Billion in Libya Assets
PARIS (Source: Wall Street Journal BY DAVID GAUTHIER-VILLARS) — French banks hold €7.6 billion ($10.98 billion) in Libyan assets that were frozen under a February resolution passed by the United Nations Security Council in response to Libya’s Col. Moammar Gadhafi’s [...]
FDIC Objects to BofA $8.5B Mortgage-Bond Deal
(Source: By David McLaughlin and Dakin Campbell) – The Federal Deposit Insurance Corp. filed an objection to Bank of America Corp. (BAC)’s proposed $8.5 billion mortgage-bond settlement with investors, joining investors and states that are challenging the agreement.
North Texas Mortgage Lenders Report Surge in Refinancing
(Source: Star Telagram By Scott Nishimura) – Homeowners looking to refinance their loans and cash in on record-low interest rates are boosting business for mortgage lenders in North Texas, executives say.
Marketers Falsely Claimed to Be Affiliated with Federal Assistance Programs, Agency Alleges
(Source: Media-Newswire.com) – The Federal Trade Commission put an end to three schemes that claimed they would help consumers with their mortgage and debt problems, as part of settlements with defendants who allegedly claimed a bogus affiliation with government assistance [...]
Two Arrested in Real Estate Fraud Scheme
(Source: LomaLinda Patch By Bill Norris) – Two people were arrested after investigators from the San Bernardino County District Attorney’s Office Real Estate Fraud Unit searched a Fontana realty office.
Home Prices Bounce Back, But Market Still Struggles
NEW YORK (Source: CNNMoney By Les Christie) — Home prices made a comeback during the second quarter, but the struggling housing market isn’t out of the woods yet.
Coldwell Banker Chief Calls for White House Summit
(Source: The Daily Eastchester by Fenella Pearson) – Realogy Corporation, the parent company of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., a leading provider of real estate and relocation services, announced that it has sent a formal [...]
Recession Leaves Many in Permanent Cutback Mode
(Source: By Sandra Block, USA TODAY) – The native of Guyana and former Marine carried balances on his credit cards, went out to dinner at least five times a week, and didn’t pay attention to the price of gas.
Michigan Schools, Alumni Groups Make $2.7 Million From Credit Cards
(Source: The Detroit Press BY DAVID JESSE) – Michigan universities and alumni associations that offer branded credit cards made $2.7 million in commissions and royalties last year, according to a first-ever Federal Reserve report required by new laws that regulate [...]
Big Banks Need to Fess up to Losses
(Source: The Wichita Eagle) – Whenever the leadership class feels nervous, you can count on some of them to offer the less-moneyed masses a bone to demonstrate they care. Warren Buffett says his idea of “shared sacrifice” is higher taxes [...]
Is Bank of America Doomed?
(Source: The Atlantic) – While most big U.S. banks appear to have recovered fairly well from the financial crisis, Bank of America continues to struggle. Its instability stems in large part from its acquisition of mortgage giant Countrywide in 2008. [...]
Switch Banks NOW: Here’s How
(Source: Business Insider) – I’m going to go Don Draper on you guys for a second: There was a time… long ago… when a man didn’t fear his bank; his bank feared him. It aimed to please him, and both [...]
Swedish Banks May Follow Nordea Job Cutting to Buoy Profit
(Source: Bloomberg By Adam Ewing) – Swedish banks may follow Nordea Bank AB (NDA), the country’s biggest lender, in shedding jobs to lower costs as a slowing economy and stricter capital rules curb profit growth.
Bank of America Event Offers Help to Customers at Risk of Foreclosure
(Source: By Sarah Portlock / The Star-Ledger) – Don and Peggy Roeske have been trying to get some help with their Bank of America mortgage for more than three years. Five years ago, they refinanced and, a year later, they [...]
Va. AG Settles With Loan Modification Company
RICHMOND, Va. (Source: Legal Newsline BY BRYAN COHEN) – Virginia Attorney General Ken Cuccinelli announced a lawsuit on Thursday against a Chesapeake, Va.-based mortgage loan modification company for allegedly charging illegal advance fees for its “foreclosure rescue” services.
How Congress Could Help you Refinance Your Mortgage
(Source: The Washington Post By Ezra Klein) – To emphasize a point I made in a Thursday post, the Obama administration can’t use Fannie Mae and Freddie Mac to do a mass refinancing of troubled mortgages. They need the Federal [...]
Weakening Mortgage Employment Could Strengthen
DALLAS, Aug. 29, 2011 — (Source: The Sacramento Bee) – More than 2,000 mortgage jobs have been eliminated this year, according to the Second-Quarter 2011 Mortgage Employment Index from MortgageDaily.com. But falling rates and worsening loan performance could lead to [...]
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