NEW YORK/CHARLOTTE (Source: Reuters Ben Berkowitz and Joe Rauch) – Bank of America Corp Chief Executive Brian Moynihan said on Wednesday he often regrets the bank’s 2008 purchase of mortgage lender Countrywide, but the loan losses from that deal will [...]
WASHINGTON (Source: NewsTimes) – How big a deal is the upcoming cutback in mortgage limits for Fannie Mae, Freddie Mac and the Federal Housing Administration? Will buyers and sellers who depend on jumbo-sized loans find themselves in a financing squeeze [...]
(Source: Forbes) – As you enjoy your July 4th refreshments, lift a toast of thanks to Bank of America for its almost $40 billion contribution to resolving the mortgage loan debacle that continues to plague the US economy. $40 billion [...]
(Source: The Morning Call) – The past few weeks, I have been looking at foreclosures, short sales or homes that need to be fixed up. After the initial mortgage crisis, our wise government started with all kinds of new rules [...]
(Source: Business Insider Gregory White) – If you still believe what’s holding back the U.S. recovery is an unwillingness of banks to lend, this chart from Citi’s Steven Weiting should finally prove to you that you’re wrong.
(Source: Fins Finance) – Some of the country’s biggest lenders are planning to hire at least 7,000 additional people to modify mortgages in a bid to quell government criticism. Bank of America plans to add another 5,000 employees by the [...]
(Source: Washington Post) – The cases also underscore the uncertainty that continues to surround Mortgage Electronic Registration Systems, known as MERS, which has allowed the financial industry to transfer and reassign millions of mortgages quickly and cheaply since the 1990s. [...]
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