(Source: Bloomberg By ALEX VEIGA) – California’s attorney general has formed a new task force to investigate mortgage fraud in the wake of practices that crushed the state’s housing industry and led to a wave of foreclosures.
Source: USA Today) – Government-backed “no-doc” loans given to people with little regard to their ability to repay. Soaring default rates. Taxpayers on the hook for tens of billions of dollars.
May 20 (Source: The Milwaukee Journal Sentinel By Paul Gores) – Fewer homeowners were delinquent on their mortgage loans in the first three months of 2011 than a year ago, a sign the market is recuperating, the Mortgage Bankers Association [...]
May 20–PANAMA CITY (Source: The News Herald By Chris Segal) – Home sales leveled out in April with a slight decrease from the previous year’s number, but condo sales increased 42 percent from the same time period last year, according [...]
May 20 (Source: The Philadelphia Daily News By Philadelphia Daily News) – LAST AUGUST, a week before former Philadelphia Housing Authority chief Carl Greene disappeared for five days after the revelation that he was facing foreclosure, Housing and Urban Development [...]
(Source: United Press International) – Men’s Health magazine, based in Pennsylvania, ranked Las Vegas as No. 1 on its list of cities filled with men suffering financial difficulties.
(Source: Politico By CHRISTOPHER PAPAGIANIS) – The New York state attorney general’s request for information regarding securitization operations of three major Wall Street banks is reigniting an important debate about how best to fix the mortgage market and strengthen our [...]
(Source: Business Wire) – CitiMortgage and Los Angeles Neighborhood Housing Services, a nonprofit leader in the affordable housing field in Los Angeles County, will host a free homeowner assistance event in Torrance for distressed homeowners.
(Source: Associated Press/AP Online By JANNA HERRON) NEW YORK – Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months. Rates followed the yield on U.S. Treasury bonds, which [...]
(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.
CHARLOTTE, N.C. (Source: The News & Observer) – There’s a hallowed rule in U.S. housing policy: If you own a home, you get a tax deduction on your mortgage interest.
(Reuters) – U.S. Treasury Secretary Timothy Geithner said on Tuesday that future mortgage costs likely will be “modestly higher” after reforms are completed to the national housing finance system. Testifying before the House Financial Services Committee, Geithner said it will [...]
(Source: By Toni Momberger, San Bernardino County Sun, Calif.) – Amortization, the word, comes from the Latin “mort,” meaning death. It literally means to kill a loan. It commonly means to repay it, combined with interest, over a specified period. [...]
(Source:By Tony Pugh, McClatchy Washington Bureau) — When a Boston community development group needed money to expand an innovative lending program that fights area foreclosures, it had high hopes. In less than a year, the Stabilizing Urban Neighborhoods program at [...]
(Source: USA TODAY / by Julie Schmit) – Mortgage rates rose this week to their highest level in 10 months, but the increase isn’t expected to derail strengthening in the battered U.S. housing market.
(Source: San Jose Mercury News/by Pete Carey)- A strengthening economy has pushed mortgage rates higher than 5 percent for the first time since May, and experts said they’ll likely stay in that range for the rest of this year.
(Source: Associated Press/AP Online By JANNA HERRON) NEW YORK – The average rate on the 30-year mortgage topped 5 percent this week for the first time since April. Higher rates could further hamper the struggling housing market ahead of the [...]
(Source: NY Times) – America’s mortgage market almost sank the world economy. But rather than rushing to fix it, the government has blown two deadlines for proposals. The ideas are finally due as early as this week from the Treasury, [...]
(Source: By Adam Van Brimmer, Savannah Morning News, Ga.) – The prolonged mortgage crisis that has confronted the U.S. housing industry since 2008 has regulators poised to crack down on loan servicers with a proposed list of new requirements. Federal [...]
(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 [...]
(Source: By Allison Bruce, Ventura County Star, Calif.) – For those weighing renting or buying a home, the in-between option of a rent-to-own agreement in which a renter eventually plans to buy the home has been missing in this housing [...]
(Source: Associated Press/AP Online By JANNA HERRON) NEW YORK – Rates on fixed mortgages dipped for the second straight week as Treasury yields fell. Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 4.71 percent this [...]
(Source: By Eric Eyre, The Charleston Gazette, W.Va.) CHARLESTON, W.Va. — Loans administered by the West Virginia Housing Development Fund dropped 45 percent last year compared to recent years, the agency reported this week. Unlike previous years, area mortgage rates [...]
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