Mortgage and Financial News From 2009-6-16 Page 01
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Lenders 'doing everything possible to delay foreclosure' - Los Angeles Times Blogs
ForeclosureRadar, the online seller of mortgage default data, has more evidence of a foreclosure backlog in its monthly data, released today: In May, a record 111,824 California homes were scheduled for foreclosure sales, but just 16% were auctioned ...
2009-06-16 03:14:00 -
Palin signs bills into law - Birmingham News
(AP) — ANCHORAGE, Alaska - Gov. Sarah Palin has signed various bills into law, including one that outlaws unwanted solicitations on cell phones. House Bill 93-among five signed by Palin Tuesday-adds cell phones to the section of state law dealing ...
2009-06-16 07:17:00 -
Local mortgage rates climbing - Cincinnati.com
The average rate on a 30-year, fixed-rate mortgage was 5.88 percent this week, according to a weekly survey of lenders by the Cincinnati Area Board of Realtors. The rate was 5.56 percent a week ago. The last time the rate was higher than this week's ...
2009-06-16 05:01:00 -
Obama to Take on Mortgage Market - HispanicBusiness.com
WASHINGTON (UPI) -- The Obama administration is set to tell U.S. mortgage lenders they must keep a portion of loans they sell to share in the risks, a Treasury spokesman said. The proposed change would require lenders to hold at least 5 percent of ...
2009-06-16 01:26:00 -
President Obama proposing new regulatory agency to police lenders - San Gabriel Valley Tribune
WASHINGTON - Setting up a certain fight with big business, President Barack Obama is proposing a new regulatory agency to police lenders and protect consumers in credit, savings and other banking transactions. The consumer agency and a newly ...
2009-06-16 07:38:00 -
Two lenders get first exemptions from 90-day moratorium - Sacramento Bee
Carrington Mortgage Services LLC and Select Portfolio Service are the first two mortgage lenders to receive a temporary 30-day exemption from California's new 90-day foreclosure moratorium. The Department of Corporations has begun posting updates on ...
2009-06-16 03:57:00 -
Lenders: Substantial losses led to pulling Fontainebleau funding - Las Vegas Sun
Lenders: Substantial losses led to pulling Fontainebleau fundingLas Vegas Sun, NV15, 2008, when Lehman Brothers Holding Inc., which was the largest participant in the project's mortgage loan, filed for bankruptcy protection. Fontainebleau has still not obtained firm commitments for this additional funding,'' B of A said. ...
2009-06-16 06:24:57 -
New Regulations Bad For Local Appraiser - TurnTo23.com
New Regulations Bad For Local AppraiserTurnTo23.com, CA... is new legislation intended to prevent mortgage fraud. Gary Crabtree, a long-time appraiser and owner of Affiliated Appraisers, has been working directly with lenders for close to 50 years now. But that relationship has changed because of the HVCC. ...
2009-06-16 07:24:01 -
Obama wants new financial agency for consumers - The Associated Press
Obama wants new financial agency for consumersThe Associated PressObama's decision to create a consumer agency comes amid criticism that mortgage lenders and credit card companies have taken advantage of unwitting customers and saddled them with debt. The financial crisis was precipitated in part by the preponderance ...
2009-06-16 07:30:20 -
Ore. communities added to housing program - KTVZ
Ore. communities added to housing programKTVZ, OR... and no requirement for private mortgage insurance. A program recipient doesn't need a great credit score, but must be able to show steady income. The loans are provided by traditional lenders, with 90% of individual loans guaranteed by the federal ...
2009-06-16 07:32:27 -
Majority Say Real Estate Prices Will Hit New Highs - American Chronicle
Majority Say Real Estate Prices Will Hit New HighsAmerican Chronicle, CAHowever, traders on Wall Street developed new products to artificially inflate markets with mortgage lenders, resulting in the delivery of an explosive mix for the world´s financial markets. Housing analysts contend it will take at least a decade or ...
2009-06-16 07:36:43 -
'No regret' warming solutions - Oil & Gas Journal
'No regret' warming solutionsOil & Gas Journal, TXIt encourages lenders to finance mortgages they otherwise would not.” This encourages high-risk development and harms environmentally sensitive areas, including wetlands, floodplains, and coastal marshes. NCPA recommends the establishment of more toll ...
2009-06-16 07:39:28 -
Monterey County real estate market stable in May - The Salinas Californian
Monterey County real estate market stable in MayThe Salinas Californian, CAUnder the new rules, lenders must prove they tried to modify the delinquent loans before they can begin foreclosing. But supporters acknowledge the California Foreclosure Prevention Act won't stop thousands of foreclosures from eventually happening. ...
2009-06-16 07:44:01 -
Using credit cards to pay loans, bills attracts interest - Fort Worth Star Telegram
Using credit cards to pay loans, bills attracts interestFort Worth Star Telegram, TXQualified cardholders paid $395 one-time fees for the chance to charge monthly mortgage payments, which could earn card incentives such as membership rewards, cash back and airline and hotel points. Unfortunately, the first lenders to offer the option ...
2009-06-16 07:50:07 -
Obama to propose new financial regulator, stronger Fed - MiamiHerald.com
Obama to propose new financial regulator, stronger FedMiamiHerald.com, FLThe administration also will propose creating a special commission that would regulate consumer credit, watching for misleading advertising and predatory lending by credit card companies, payday lenders and mortgage brokers who help arrange financing ...
2009-06-16 07:51:01