Mortgage approvals hit their highest level of 2010 last month, according to the British Bankers Association.
In the third consecutive month of rises, a total of 36,709 home loans were granted in May.
However, the figure was below the 27-month high reached in December 2009, attributable to the stamp duty holiday and severe cold weather.
Andrew Montlake of [...]
Archive for the ‘brokers’ Category
Mortgage Approval Rise Shows ‘Stable Market’
June 23rd, 2010 by Mortgage Writer
Tags: credit card, economic recovery, interest rates, loan, loans, Mortgage Bankers, Mortgage Bankers Association, mortgage brokers, mortgage rates, mortgages
more...Wells Fargo Mortgage Modification Options For Lower Mortgage Payments
June 15th, 2010 by Mortgage Writer
Wells Fargo homeowners may be able to obtain a mortgage modification in order to get a lower mortgage payment on their home. Many homeowners need a lower home loan payment in order to make ends meet since various individuals are still struggling financially due to a variety of economic factors.
Homeowners have been seeking home loan [...]
Tags: foreclosures, home loans, homeowners, lenders, mortgage modification, Obama administration
Factors and Variables Influencing Mortgage Finance
June 12th, 2010 by Mortgage Writer
Properties are secured under mortgage to oblige the borrower to make a predetermined succession of loan payments. A borrower can obtain mortgage finance to from a financial institution like banks. Components like loan size, loan maturity, interest rate and loan payment method differs significantly from one creditor to another.
Mortgaged properties levy restrictions on the use [...]
Tags: borrowers, credit card, foreclosures, interest rates, lender, mortgage brokers, mortgage finance, mortgage lenders, mortgage loans
Prosecutors comb through Wall Street’s mortgage deals
May 14th, 2010 by Mortgage Writer
Wall Street’s biggest banks are facing a new legal onslaught, as regulators and state and federal prosecutors pore over their activities in the mortgage market in the run-up to the credit crisis.
Andrew Cuomo, the attorney-general of New York state, has opened an investigation into whether any of the eight leading banks misled the credit rating [...]
Tags: bank of america, banks, brokers, economy, financial, Goldman Sachs, interest rates, mortgage, Mortgage Bankers, mortgage brokers, US Economy, wall street
UK housing market then and now
April 30th, 2010 by Mortgage Writer
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 [...]
Tags: borrowers, buyers, financial, interest rates, market value, mortgage, mortgage brokers, mortgage rates
End of an era
April 3rd, 2010 by Mortgage Writer
Mortgage-rate rise marks last of rock-bottom loans.
The era of rock-bottom mortgage rates ended with a crush of work for mortgage brokers and bank-loan officers.
It started Monday with a flood of homebuyers looking for last-minute approvals to sneak in under the wire before interest-rate increases went into effect the next morning — signalled in announcements by [...]
Tags: mortgage, Mortgage Bankers, Mortgage Bankers Association, mortgage rates
Stocks rise after increase in consumer spending
March 29th, 2010 by Mortgage Writer
Stocks rose Monday after an increase in consumer spending boosted confidence in the economy.
The Dow Jones industrial average rose about 45 points in afternoon trading. Broader indexes also climbed.
The Commerce Department said consumer spending rose for the fifth consecutive month in February, matching economists’ expectations.
Job creation and healthy consumer spending are considered keys to a [...]
Tags: consumer spending, credit crisis, dow jones industrial, stocks rise
Eurozone leaders: Greece plan to stabilize euro
March 26th, 2010 by Mortgage Writer
European leaders on Friday said their hard-won deal to rescue debt-ridden Greece after months of bitter wrangling will help calm jittery markets and stabilize the euro. But market reaction was cautious and experts warned the crisis had already dented the eurozone’s credibility.
Leaders of the 16 eurozone countries agreed Thursday to a plan to rescue Greece [...]
Tags: borrowing rate, European Central Bank, eurozone leaders, interest rates, investors
BofA to start reducing mortgage principal
March 24th, 2010 by Mortgage Writer
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure.
The bank, the largest mortgage servicer in the country, said Wednesday it will forgive up to 30 percent of some customers’ total mortgage balance. The homeowners must have missed at least two months of mortgage payments and [...]
Tags: bank of america, foreclosure, homeowners, mortgage borrowers, mortgage payments, mortgage servicer, reducing mortgage
China pushes May meeting to ease strains with U.S.
March 22nd, 2010 by Mortgage Writer
A top-level dialogue between China and United States in May will be “very important” for defusing strains between the two big economies, Chinese Premier Wen Jiabao said on Monday.
Wen made the conciliatory remarks in a meeting with foreign business executives in Beijing on Monday, telling them that his government did not want “trade and currency [...]
Tags: big economies, businesses, china, economic dialogue, united states
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