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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 […]
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- 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 […]
Mortgage News
Teenager Builds Tiny House, Avoids a Mortgage
(Source: tucsoncitizen by Kate Kaemerle) – This teenager built his own tiny home in his parent’s backyard. It’s 130 square feet, has a sleeping loft, an electrical hookup and he’s planning his kitchen. He plans to live in it when [...]
Banks Said to Balk at ‘Robo-Signing’ Offer
NEW YORK, Sept. 6 (Source: UPI) – U.S. banks are balking at an offer by state officials to limit their blame for alleged improper mortgage practices in return for a multibillion-dollar payment.
Mortgage Suits Inflict Super-Damages on Banks
LONDON, Sept 6 (Source: Reuters Breakingviews) – Just when investors in European and U.S. banks thought things couldn’t get worse, 17 financial institutions have been sued over $196 billion-worth of toxic mortgage bonds. Bank shares fell up to 12 percent [...]
Bank of America Settlement Should Be Voided, Nevada Says
(Source: Bloomberg By Sophia Pearson) – Nevada asked a U.S. judge to terminate a settlement with Bank of America Corp. (BAC) over home-loan modifications tied to its Countrywide mortgage unit, saying the company hasn’t complied with terms of the accord.
BofA to Sell or Close Another Mortgage ARM, Putting Jobs at Risk
(Source: LA Times) – Bank of America Corp. has put another giant piece of the Countrywide mortgage empire on the auction block — the correspondent lending arm, which buys closed home loans from mortgage bankers, commercial banks and other loan [...]
Nevada AG Renews Mortgage Fraud Battle
(Source: Bloomberg Businessweek) – Nevada’s attorney general wants a federal judge in a big mortgage fraud case to set aside an earlier consent judgment so the state can sue Countrywide Financial Corp. and Bank of America for consumer fraud.
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.
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.
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 [...]
Credit Unions See Surge in Mortgage Activity
(Source: The Washington Post By Danielle Dougla) – Local credit unions are reporting an uptick in mortgage applications, as record-low interest rates entice members to refinance their mortgages or purchase a home, despite rising fears of a double-dip recession.
Mass. Cracks Down on 5 Reverse Mortgage Firms
(Source: The Boston Globe By Erin Ailworth) – The state Division of Banks has ordered five companies to stop peddling reverse mortgages to elderly homeowners, charging they are not properly licensed to sell the product in Massachusetts.
Faced With Foreclosure – for Paying Her Mortgage Early
(Source: The Boston Globe by Scott Van Voorhis) – Can the nation’s big banks get any more incompetent in how they handle individual foreclosures?
Mortgage Broker is Astounded by His 150 Point Credit Score Increase Delivered by Credit Repair Technology
Dallas, Texas (Source: San Francisco Chronicle) – Anthony Aidonmiyi, a Texas mortgage broker and owner of Dynamic Mortgage in Houston, was able to increase his personal credit score 153 points in only four months with the assistance of the credit [...]
U.S. May Back Refinance Plan for Mortgages
(Source: New York Times By SHAILA DEWAN and LOUISE STORY) – The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and [...]
Fannie, Freddie Takeover Could be Key to Obama Jobs Plan
(Source: FOx News By Chris Stirewalt) – At the center of the Panic of 2008 were defaults on cheap mortgages for Americans with poor credit. The latest idea to reverse the resulting recession is for the government to offer cheap [...]
New York Spars in Foreclosure Talks
(Source: The Wall Street Journal BY RUTH SIMON AND NICK TIMIRAOS) – Efforts to forge a consensus among government officials seeking to negotiate a foreclosure settlement with banks are stumbling in the face of New York State Attorney General Eric [...]
Will Bankruptcy Solve Mortgage Crisis?
(Source: Fox Business By Justin Harelik) – Dear Bankruptcy Adviser, After 23 years in good standing with my mortgages, I am in foreclosure. I am 59 years old and ineligible for a modification, as my debt-to-income ratio disqualifies me. My [...]
N.Y. Bumped From 50-State Foreclosure Committee
(Source: The Washington Post) – Iowa Attorney General Tom Miller, who is leading foreclosure settlement negotiations with the nation’s largest banks on behalf of all 50 states, abruptly removed New York Attorney General Eric Schneiderman from the coalition’s executive committee [...]
State Reaches $125M Settlement with Mortgage Company
(Source: Boston Herald By Donna Goodison) – Some 5,500 Massachusetts homeowners will be eligible for loan modification relief as part of a $125 million settlement announced today that resolves allegations of unfair and discriminatory subprime lending practices by the mortgage [...]
New York AG Under White House Pressure on Mortgage Settlement
(Source: The Hill By Peter Schroeder) – New York Attorney General Eric Schneiderman is reportedly under pressure from the Obama administration to support a broad bank settlement over shoddy mortgage servicing practices.
Judge Allows Intervention in BofA $8.5 Billion Pact
NEW YORK (Source: Reuters) – A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to intervene in Bank of America Corp’s proposed $8.5 billion settlement with investors [...]
States’ Foreclosure Talks with Big Mortgage Servicers Stall
(Source: By Alejandro Lazo and Nathaniel Popper, Los Angeles Times) – Reporting from Los Angeles and New York— An effort by state attorneys general to take big mortgage servicers to task over faulty foreclosure practices has stalled as financial institutions [...]
PMI Shares Plunge 32%
(Source: By George Avalos Contra Costa Times) – PMI Group shares plummeted 32 percent Monday, the first trading day after state regulators halted the struggling Walnut Creek company’s ability to issue new insurance policies to cover mortgages.
Mortgage Delinquencies Increase
(Source: Wall Street Journal BY NICK TIMIRAOS) – The number of American households that fell behind on their mortgages increased slightly in the second quarter from the previous quarter, according to a survey released Monday, an unwelcome sign for the [...]
Banks Foreclosing on Burt Reynolds Mansion
(Source: Star Tribune) – Friends and fans of Burt Reynolds are rallying around the actor after hearing that his home in Hobe Sound, Fla., is under foreclosure proceedings.
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