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 ‘mortgage’ 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...Troubled borrowers get help outside Obama mortgage plan
June 22nd, 2010 by Mortgage Writer
More troubled homeowners have fallen out of trial mortgage modifications than have received long-term help, a new government report released Monday shows.
But nearly half of these borrowers received alternate help, while only 7% have fallen into foreclosure, according to the latest report on the administration’s signature housing-rescue plan, Home Affordable Modification Program, known as HAMP.
Also, [...]
Tags: borrowers, financial crisis, foreclosures, home loans, homeowners, housing market, loan, mortgage, mortgage modification, Obama administration, subprime mortgages
Avoiding Mortgage Scams
June 21st, 2010 by Mortgage Writer
The FBI arrested more than one thousand people in a mortgage fraud crackdown last week. And though the government is doing what it can to crack down on fraud, consumers applying for a mortgage or looking for help avoiding foreclosure still need to be cautious. Kelli Grant, Senior Consumer Reporter for SmartMoney.com shares steps you [...]
Tags: borrowers, economy, foreclosure, housing market, loan, money, mortgage lenders, mortgage market, real estate
Reverse Mortgage: Late on taxes? Face foreclosure
June 19th, 2010 by Mortgage Writer
The Federal Housing Administration, also known as the FHA, may be toughening up their stance on seniors with a reverse mortgage who fail to pay their local property tax or hazard insurance premiums.
Fannie Mae has already started the process of contacting reverse mortgage lenders and servicing companies, asking them to keep an eye out for [...]
Tags: economic recovery, fannie mae, foreclosures, homeowners, housing market, interest rates, loans, money, mortgage lenders, mortgages, The Federal Housing Administration, US Economy
Mortgage rates rise slightly but remain near record lows
June 18th, 2010 by Mortgage Writer
Lenders are offering an average rate of 4.75% for a 30-year fixed mortgage, up from 4.72% last week, Freddie Mac says.
Mortgage rates rose slightly but remained near record lows this week after lenders reported the first increase in six weeks in the number of loan applications by would-be home buyers. But for the housing market, [...]
Tags: borrowers, financial, Freddie Mac, home loans, homebuyers, housing market, lenders, mortgage banker, mortgage lending, mortgage rates, real estate, tax credit
US mortgage rates steady, 30-yr at 4.75 pct-Freddie
June 17th, 2010 by Mortgage Writer
U.S. mortgage rates held steady at or near record lows in the latest week, home funding company Freddie Mac said on Thursday, with new housing data indicating market momentum is muted.
Fixed mortgage rates rose marginally, while adjustable rates slipped in the week ended June 17.
The average 30-year home loan rate rose 0.03 percentage point to [...]
Tags: economic recovery, economy, Freddie Mac, home loans, homebuyers, money, mortgage market, mortgage rate, mortgages, tax credit, US Economy
Fannie, Freddie To Delist Stock From U.S. Exchanges
June 16th, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac said they intend to delist their stock from the New York Stock Exchange as the U.S. government-backed mortgage companies continue to struggle amid billions in losses.
The Federal Housing Finance Agency, the companies’ conservator, said it directed them to delist their stock because of stock-exchange requirements for maintaining price levels above [...]
Tags: fannie mae, Federal Housing, FHA, financial crisis, Freddie Mac, great depression, housing market, mortgage debt, stock markets
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
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
June 14th, 2010 by Mortgage Writer
The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
Fannie and Freddie, now 80 percent owned by U.S. taxpayers, [...]
Tags: business, fannie mae, financial, Freddie Mac, home loans, homebuyers, interest rates, mortgage backed securities, mortgage companies, mortgage market, mortgage payments
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
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