In April, the year-on-year increase in house prices returned to double figures for the first time since June 2007, the Nationwide Building Society has said.
So is the housing market back to where it was in the summer of 2007?
Far from it, according to estate agents and mortgage brokers.
They say that the picture for buyers, sellers [...]
Archive for April, 2010
UK housing market then and now
April 30th, 2010 by Mortgage Writer
Tags: borrowers, buyers, financial, interest rates, market value, mortgage, mortgage brokers, mortgage rates
more...One Firm Refused to Aid a Goldman C.D.O. Plan
April 29th, 2010 by Mortgage Writer
A little-known investment firm has found itself caught up in the Securities and Exchange Commission’s fraud case against Goldman Sachs, The Wall Street Journal reported.
GSC Group, based in New Jersey, was contacted by Goldman back in January 2007 and asked to find mortgage-backed securities for an intricate synthetic collateralized debt deal that the bank was [...]
Tags: banks, CEO, economy, financial, Goldman Sachs, mortgage, Mortgage Bankers, US Economy, wall street
Arizona No. 4 for mortgage fraud
April 28th, 2010 by Mortgage Writer
Arizona now ranks fourth for mortgage fraud nationally. It’s the first time the state has cracked the top five for the problem, according to data released this week from the Mortgage Asset Research Institute.
Florida, New York and California (in that order) rank ahead of Arizona in 2009 mortgage-fraud cases. The most prevalent type of home-loan [...]
Tags: economy, homebuyers, mortgage, mortgage lenders, mortgages, real estate, US Economy
Mortgage Fraud Rises For Fifth Consecutive Year
April 27th, 2010 by Mortgage Writer
Mortgage fraud increased in the U.S. for the fifth consecutive year, according to the Appraisal Institute. The institute, an organization of 25,000 real estate appraisers, reported a 7% increase in fraud reports from 2008 to 2009. The increase was sizable but much smaller than the 20%-plus jumps the market saw each year from 2005 to [...]
Tags: banks, financial, mortgage, mortgage rates, mortgages, news, US Economy
Economists Optimistic About Future Economy, Job Creation
April 26th, 2010 by Mortgage Writer
ABC News reports that the economic outlook for the next year is growing more and more positive as news that US industries are continuing to grow and add jobs. Even so, growth is still expected to be slow for the remainder of the year and most companies (46%) do not plan on changing staff levels [...]
Tags: Economic Indicators, federal reserve, financial, real estate, US Economy
Sales of new homes rocketed up 27 percent in March
April 24th, 2010 by Mortgage Writer
Sales of newly built homes shot up 27 percent in March — the largest monthly gain in nearly five decades — as mild weather and a lucrative tax credit pumped up demand for homes in all four regions of the country, according to federal data released Friday.
The Commerce Department reported that new-home sales jumped to [...]
Tags: commerce department, economic recovery, economy, homes available for sale, mortgage, mortgage rates, US Economy
U.K. Bankers Shunned by Mortgage Lenders Turn to Private Banks
April 23rd, 2010 by Mortgage Writer
April 23 (Bloomberg) — Employees in London’s financial services industry are turning to private banks for luxury home loans as the biggest mortgage lenders are deterred by limits on cash bonuses.
Lending by private banks climbed by as much as 40 percent in the past year, according to Private Finance, a London-based broker that arranges mortgages [...]
Tags: financial, investors, mortgage, Mortgage Bankers, Mortgage Bankers Association, mortgage lenders, news
Geithner says parts of US economy “very strong”
April 22nd, 2010 by Mortgage Writer
Geithner cites “encouraging signs” on US economy. He says confident financial reform legislation will pass (Adds comments on legislation, context).
WASHINGTON, April 22 (Reuters) - U.S. Treasury Secretary Timothy Geithner says some parts of the U.S. economy are “very strong” and that the United States was rebounding from recession more quickly than most other major economies.
Geithner, [...]
Tags: business, economy, federal reserve, news, Obama, powerhouse, Treasury Department, treasurys, US Economy, wall street
Mortgage Servicer Profits May Threaten Obama Housing Programs
April 21st, 2010 by Mortgage Writer
Mortgage servicers may have to take a pay cut to participate in President Barack Obama’s programs to modify home loans and advance the sale of properties in default.
Starting this month, the Treasury Department is paying companies that collect mortgage payments and examine pleas for assistance a $1,500 stipend for approving the sale of homes for [...]
Tags: borrower, foreclosure, mortgage, mortgage investors, Obama, US Economy
Use Low Rate Mortgage to Maximize Home Purchase, Says Informa Research Services
April 20th, 2010 by Mortgage Writer
According to recent reports, mortgage rates have fallen for the first time in over a month. After jumping significantly a few weeks ago, they have now retreated back to record low levels, which could benefit first time home buyers and others who are in the market to purchase. Informa Research Services, a subsidiary of Informa [...]
Tags: home buyers, homeowners, mortgage, mortgage rates, news, Obama, real estate, US Economy
Fatal error: Cannot redeclare pagenavi_textdomain() (previously declared in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php:34) in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php on line 35