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Fannie Mae Cancels Planned Increase in Adverse Market Delivery Charge
WASHINGTON, DC -- Fannie Mae said it would cancel the planned increase in its adverse market delivery charge. The 25-basis point (0.25 percent) increase was scheduled to go into effect for whole loan purchases and mortgage loans delivered into MBS with
Long-Term Mortgage Rates Barely Move This Week
McLEAN, VA ?? Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 6.10 percent with an average 0.6 point for the week ending October 2, 2008, up from last week when it averaged
A Breath of Fresh Air: Change From the Status Quo in Response to Today's Mortgage Crisis
WYLIE, TX, - In today's residential mortgage crisis, there's a growing skepticism amongst current and prospective homeowners in the mortgage process -- a skepticism that's rooted in the belief that some mortgage lenders and brokers are only looking out
Mortgage Fraud Prosecutions Continue To Rise In South Florida
MIAMI, FL - U.S. Attorney Acosta announced a joint Federal-State Mortgage Fraud Initiative, designed to combat the growing mortgage fraud epidemic in South Florida. The Federal-State Mortgage Fraud Initiative brought together federal and state law
House prices in capital slump a further 7%
The average price of a house in the capital fell by 7 per cent in September â following a 6 per cent year-on-year fall in August â the first drop since 1971.New quarterly figures show estate agents are selling fewer than half the number of
The mortgage meltdown explained -- by 'Saturday Night Live'
From time to time over the last 30 years or so, 'Saturday Night Live' has done some pretty good political analysis wrapped in sketch humor. This weekend was one of those times. If you have seven minutes, watch this weekend's SNL take on the bailout. It
TD to raise rates on mortgages, home equity loans
The latest victims of the growing financial crisis could be the standard discount available to consumers on variable mortgages, and home equity loans at prime. In a move expected to be followed by other banks, all of which have been stung by higher
TD to raise rates on mortgages, home equity loans
The latest victims of the growing financial crisis could be the standard discount available to consumers on variable mortgages, and home equity loans at prime. In a move expected to be followed by other banks, all of which have been stung by higher
Thursday preview: Marks & Spencer, Ted Baker, house prices
With the heavy discounters gaining market share in the food retailing market it is little wonder that investors are bracing themselves for disappointing news from retailer Marks & Spencer when it gives its second quarter trading update on Thursday.
Reverse mortgage primer
Reverse mortgages appear to be the next big market that everyone is interested in these days, including loan originators and title agents. By some accounts, there are several trillion dollars in untapped equity owned by seniors. Why are these types of
AllRegs delivers FHA Hotline support service for mortgage lenders
BY: MortgagePress.com KEYWORDS: AllRegs, FHA, mortgage lenders, HUD, FHA Hotline, FHA Solution Center, Mortgage Dynamics Inc. Congress, HUD and FHA continue to make fantastic changes to loan programs and guarantees available to Americans purchasing
Reverse mortgage industry veteran Kevin Kaltenbach joins Senior Financial Corporation
Senior Financial Corporation, a privately-held reverse mortgage company, announced that Kevin Kaltenbach has been appointed executive vice president and director of corporate development for their organization. In addition to his responsibilities as
Fannie Mae forgives mortgage debt of 90-year-old woman who shot herself
Fannie Mae, a housing mortgage lender, has forgiven the mortgage debt of Addie Polk, a 90-year-old woman from Akron, Ohio who attempted to kill herself when she was being evicted from her home on Wednesday. Polk had lived in her home since 1970, and
TD Canada Trust hikes variable mortgage rates, lines of credit
TORONTO - One of Canada's biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines of Credit
Wall Street space man to pilot $700bn mortgage rescue plan
Search Search Go Independent.co.uk Web Bookmark & Share A little-known 35-year-old engineering graduate, who spent just four years working in finance, was yesterday entrusted with saving the global banking industry from implosion ? and handed
UBS Cuts 2,000 Due to Bad US Mortgages
more on the financial crisis, check out GlobeSt.com?s Webinar, ?Wall Street In a Freefall?The Winners and Losers.? ZURICH, SWITZERLAND-UBS, based here, will lay off 2,000 employees, mostly in the US and the UK, due to troubles brought on by
Mortgage Modification in Michigan
Michigan Mortgage Modification LLC has recently launched their website www.michiganmortgagemodification.com. Struggling Michigan homeowners can access this informative site to learn more about mortgage modification, how the process works and request
NJ may bill mortgage lenders $2,000 per foreclosure
TRENTON, New Jersey (Reuters) - A panel of New Jersey legislators on Monday approved a measure to make mortgage lenders pay $2, before taking a homeowner into foreclosure. The measure, which is opposed by some banks, is believed to be the first of its
TD Canada Trust hikes variable mortgage rates, lines of credit
One of Canada's biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines of Credit - which
Fannie Mae Forgives Mortgage After Homeowner Shoots Self
Like a scene from a scary movie, gunshots from a little white house in Akron, Ohio, jolted Capitol Hill Friday. The culprit? Foreclosure. Ninety-year-old Addie Polk, in an attempt to prevent eviction after a bank foreclosed on her home, allegedly fired
Anatomy of a Train Wreck: Causes of the Mortgage Meltdown
Why did the mortgage market melt down so badly? Why were there so many defaults when the economy was not particularly weak? Why were the securities based upon these mortgages not considered anywhere as risky as they actually turned out to be? This report
Could B of A mortgage program be model for others?
Bank of America today announced the creation of a mortgage-modification program aimed at keeping borrowers in their homes. The plan, which is aimed at nearly 400,000 Countrywide Financial Corp. customers, was developed with state Attorneys General, who
TD Canada Trust hikes variable mortgage rates...
The prime rate at TD and most major Canadian banks has been 4.75 per cent since April, the last time the Bank of Canada changed its target for its overnight lending rate. With the change, TD customers who have borrowed under those lines of credits or
TD Canada Trust hikes variable mortgage rates, lines of credit
The prime rate at TD and most major Canadian banks has been 4.75 per cent since April, the last time the Bank of Canada changed its target for its overnight lending rate. With the change, TD customers who have borrowed under those lines of credits or
Bank of America settles suits over bad mortgages
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Major U.S. mortgage lender selects MDA
RICHMOND, BC, Oct. 6 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that MDA Lending Solutions has signed a contract with a leading US mortgage lender to provide them with a
More Tales Of Mortgage Meltdown--And What Do We Call This?
More tales from the front lines of the mortgage meltdown. And I ask you to help me create a word for all this! (See below.) Trying to get a short sale approved by the bank can be akin to buying toilet paper in the old Soviet Union--you need patience and
Bank of America settles suits over bad mortgages
Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.Charlotte, N.C.-based Bank of America said Monday it will
NJ may bill mortgage lenders $2,000 per foreclosure
By Jon Hurdle TRENTON, New Jersey (Reuters) - A panel of New Jersey legislators on Monday approved a measure to make mortgage lenders pay $2,000 before taking a homeowner into foreclosure. The measure, which is opposed by some banks, is believed to be
How our mortgages got us into this mess
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