Mortgage and Financial News From 2010-9-3 Page 01
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Recession culls Tennessee mortgage lenders - Birmingham Business Journal
Tennessee’s home loan industry, once awash with small operators, has lost more than 60 percent of the mortgage companies making loans to prospective homeowners over the past three years. Such a sharp decline, which ...
2010-09-03 06:01:00 -
Mortgage rates hit record low: Freddie Mac - Portfolio.com
The Mortgage Bankers Association said on Wednesday U.S. mortgage applications for home purchasing and refinancing increased last week. Freddie Mac said rates on 5/1 ARMs, set at a fixed rate for five years and ...
2010-09-02 10:24:00 -
When is the best time to lock in a mortgage rate? - Seattle Times
Consumers looking for a mortgage who find a great rate typically choose to lock it in for a specified period of time. Todd Dal Porto, a national sales executive with Bank of America Home Loans, says most lenders ...
2010-09-03 11:59:00 -
Fannie Mae: Rate of late home loans fell in June - Yahoo Finance
WASHINGTON (AP) -- Fewer people with single-family home loans were behind ... Fannie Mae and its sibling Freddie Mac were created by Congress to buy mortgages from lenders and package them into bonds that are resold ...
2010-08-27 02:42:00 -
Sarawak timber firm linked to US sub-prime crash
A GIANT logging company in Sarawak is alleged to be at the heart of the housing bubble that led to the sub-prime mortgage crisis and the world economic crash.
2010-09-03 08:02:39 -
To rent or buy? How to weigh it out
To rent or buy? How to weigh it out
2010-09-03 06:40:31 -
Debt adviser: Should you pay off your mortgage?
Dear Debt Adviser,
2010-09-03 08:53:59 -
Former Sacramento mortgage lender indicted for fraud
SACRAMENTO - The former president of a Sacramento mortgage and lending company was arrested Friday after a federal grand jury handed down a nine-count indictment alleging fraud and money laundering.
2010-09-03 08:32:51 -
H&r Block Dismisses Concerns About Mortgages
H&R Block told investors to ignore speculation that it faced a surge in costs tied to its defunct mortgage business.
2010-09-03 08:35:16 -
Why cheaper money won’t mean more jobs
Can the Federal Reserve rescue the economy by making money even cheaper than it already is? A debate is being played out in the Fed about whether it should return to so-called “quantitative easing” — buying more mortgage-backed securities, Treasury bills and other bonds — in order to lower the cost of capital still further. The sad reality is that cheaper money won’t work. Individuals aren’t ...
2010-09-03 09:04:08 -
Lenihan seeks quick EU ruling on Anglo rescue
MINISTER FOR Finance Brian Lenihan will meet EU competition commissioner Joaquin Almunia in Brussels early next week as the Government presses for a swift decision on the €25 billion rescue of Anglo Irish Bank.
2010-09-03 08:46:37 -
Bid Fails for Class Certification in Subprime Securities Case
A financial services company has defeated class certification in a New York federal lawsuit involving subprime securities. The defendant, First American subsidiary eAppraiseIT, conducted home appraisals in connection with Washington Mutual mortgage loans. First American shareholders, led by the Berks County, Pa., Employees' Retirement Fund, alleged that eAppraiseIT routinely overvalued homes so ...
2010-09-03 09:07:33 -
Selling a home: Pricing right in a housing slump
The good news for sellers: Your house will sell. The bad? Only if the price is just right.
2010-09-03 09:10:21 -
Bill Gross: Mr. Grosss Goes to Washington
By guruek. Bill Gross of PIMCO has published an essay on how to reform the country's mortgage lending regulation. Apparently he has gone to Washington DC and proposed a resolution of Fannie Mae (FNMA) and Freddie Mac (FHLMC) and the evolution of housing finance in the United States. Read more » »
2010-09-03 10:26:45 -
With troubled mortgages, discounts on repayment could return some order
Lew Ranieri isn’t as heroic as The Wall Street Journal makes him out to be. Someone else did the tough job. Ranieri’s name may be familiar in Kansas City. He was the mortgage investments expert the government brought in after seizing Franklin Savings Association in February 1990.
2010-09-03 10:56:26