home loans

Homeowners Are ‘In Better Shape Than You Thought’

(Source: Star Tribune) – In an attempt to get a better understanding of what’s happening in the Twin Cities housing market, Herb Tousley at the University of St. Thomas has created a monthly housing market index that he hopes will [...]


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BofA, Goldman Sachs Find State Mortgage-Securities Cases Hard to Shake

(Source: Bloomberg By Karen Gullo) – Investors suing Bank of America Corp. (BAC) and more than a dozen other underwriters to force the buyback of $6.7 billion in downgraded mortgage securities have defeated efforts by the banks in pretrial skirmishes [...]


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Ireland Bank Nationalization Moves Ahead

DUBLIN (Source: The Wall Street Journal BY EAMON QUINN) — Irish Finance Minister Michael Noonan on Tuesday won a court order to take control of Irish Life & Permanent after Ireland’s largest pensions and home-loans provider failed to raise billions [...]


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Big Banks Are Still Faking Home Loan Documents

(Source: Bnet By Alain Sherter) – After getting caught last year falsifying legal documents as part of conducting illegal foreclosures, big banks promised never to do it again. In April, more than a dozen large mortgage servicers also signed agreements [...]


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U.S. Home Finance in Limbo a Year After Dodd-Frank

(Source: Reuters By Agnes T. Crane) – A year after the Dodd-Frank Act, the $10.5 trillion U.S. mortgage market is still in limbo. One big reason is that the law scarcely touches Fannie Mae, Freddie Mac and the Federal Housing [...]


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Time for Action on Freddie and Fannie

(Source: New York Times By AGNES T. CRANE, GEORGE HAY and PETER THAL LARSE) – A year after passage of the Dodd-Frank act, the $10.5 trillion American mortgage market remains in limbo. One big reason is that the law scarcely [...]


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BofA Mortgage Settlements Magnify Capital Strain as $50 Billion Gap Looms

(Source: Bloomberg By Hugh Son) – Bank of America Corp. (BAC) may have to build its capital cushion by $50 billion and renege again on Chief Executive Officer Brian T. Moynihan’s pledge to raise the firm’s dividend as mortgage losses [...]


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New Limits Loom on Jumbo Mortgages

(Source: MSN Money) – The wobbly housing market is about to absorb a new blow: On Oct. 1, the government will lower the size of home loans it guarantees.


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Lenders Said Near Foreclosure Deal

NEW YORK (Source: Boston Globe) – JPMorgan Chase & Co., Bank of America Corp., and three other US mortgage servicers are in advanced talks to resolve state and federal claims over faulty foreclosures, according to two people briefed on the [...]


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Foreign Buyers Lifting U.S. Home Sales

(Source: By Julie Schmit, USA TODAY) – Foreign buyers are helping to stoke home sales in U.S. vacation hot spots decimated by the real estate crash, especially in southern Florida.


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17% of Defaults Called Deliberate

(Source: NASDAQ by Kirk Haverkamp) – Nearly one in five borrowers who default on their mortgages does so deliberately despite being able to keep up with their payments, according to a major credit reporting agency.


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Wanted: Better Bank Regulators

(Source: Mother Jones By Andy Kroll) – Hello there, Drum readers! I’m Andy Kroll, a reporter here in MoJo’s DC bureau. For the next week, I’ll be one of the guest bloggers keeping the Drumbeat lively while Kevin lounges on [...]


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‘Hard Money’ Lending has Sordid Past in Nevada County

NEVADA COUNTY (Source:  By Robert Lewis and Charles Piller – cpiller@sacbee.com) – For three decades, the promise of easy money lured residents of this region’s Gold Country towns to invest in an obscure corner of the real estate industry – [...]


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Locals Still Stress Over Foreclosures, Loans

SAN FRANCISCO (Source: ABC 7 By Michael Finney) – Millions of Americans are in foreclosure right now.and many of them are holding out hope that they might get their home loan modified.


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Just How Dead Is the Mortgage Market?

(Source: Minyanville By Howard Simons) – As I am not an expert  in voodoo, nor do I intend to attend any sort of evening classes at the local community college filled with frustrated career-changers who see putting others into stupefied [...]


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U.S. Mortgage Applications Climbed 1.1% Last Week on Purchases

(Source: Bloomberg By Shobhana Chandra) – Mortgage applications in the U.S. rose for the fourth consecutive week as home purchases and refinancing gained.


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Carrington Mortgage Avoids Penalty in Ohio Lawsuit

(Source: Reuters) – Carrington Mortgage Services, one of the largest servicers of subprime home loans, on Monday said it has avoided penalties as it put an end to a lawsuit filed by the state of Ohio nearly two years ago.


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Mortgage Rates Drop Amid Crisis in Japan

(Source: The Hartford Courant, Connecticut By Kenneth R. Gosselin) – The rates on popular options for buying a home or refinancing a mortgage dropped this week, part of the fall-out from the crisis in Japan.


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Mortgage Rates Drop For Third Week In A Row

(Source: The Hartford Courant, Connecticut By Kenneth R. Gosselin) – Mortgage rates dropped for the third consecutive week as the struggling economic recovery kept housing demand weak.


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Fees for home loans increase

(Source: USA TODAY) By Julie Schmit – The cost of getting a mortgage is rising as higher fees hit more borrowers, including those with stellar credit. For the first time since 2009, Fannie Mae and Freddie Mac are raising risk [...]


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HSBC launches two new fixed rate mortgages

(Source: Datamonitor) – HSBC has launched new deals which include a five-year fixed rate at 4.29% with GBP99 fee and a seven-year fixed rate at 4.69% with GBP999 fee. The loans, part of HSBC’s sale which ends on February 6, [...]


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Rate on 30-year fixed mortgage rises to 4.80 pct.

(Source: Associated Press/AP Online By ALEX VEIGA) LOS ANGELES – The average rate on a 30-year fixed mortgage rose for the second week in a row, buoyed by higher bond yields. Freddie Mac said Thursday that the average rate rose [...]


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Rate on 30-year fixed mortgage rises to 4.74 pct.

(Source: Associated Press/AP Online By JANNA HERRON) – NEW YORK – The average rate on a 30-year fixed mortgage rose slightly this week, following increases in Treasury yields. The average rate rose to 4.74 percent this week from 4.71 percent [...]


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