Securities and Exchange Commission investigators are focusing on a second mortgage-backed asset created by Goldman Sachs as they attempt to bolster their $1 billion fraud case against the embattled bank.
Hudson Mezzanine, a synthetic collateralised debt obligation (CDO), was structured by Goldman in late 2006, shortly before the bank made and sold Abacus, the now-notorious CDO [...]
Archive for the ‘mortgage’ Category
Goldman faces second investigation as mortgage assets leave bitter taste
June 11th, 2010 by Mortgage Writer
Tags: business, credit, financial market, Goldman Sachs, investors, mortgage backed securities, mortgage investors, mortgage market, wall street
more...Oh, Canada! What We Could Learn From Your Mortgage Market
June 10th, 2010 by Mortgage Writer
One of the biggest rounds of applause at a housing-policy conference sponsored by the Federal Reserve Bank of Cleveland this week was for Virginie Traclet, a soft-spoken researcher from the Bank of Canada. All the French-born Ms. Traclet had to do was describe Canada’s mortgage market.
To start with, interest on mortgage debt isn’t tax deductible [...]
Tags: borrowers, fannie mae, federal reserve, financial, Freddie Mac, interest rate, mortgage debt, mortgage loans, mortgage market, subprime loans, treasurys
Housing starts solid as mortgage rates watched
June 9th, 2010 by Mortgage Writer
Island residential construction jumps 37%, signalling stronger economic conditions.
The house-building industry is back producing homes at a rate comparable pre-recession rates in 2008.
The Canadian Mortgage and Housing Corporation, the federal agency that monitors the housing industry, is reporting solid year-over-year numbers in residential construction during the past year in its May industry report.
House construction is [...]
Tags: economic recovery, economy, financial, housing market, interest rates, investors, loans, Mortgage Bankers Association, mortgage market, mortgage rates
BofA to pay $108M for Countrywide mortgage abuses
June 8th, 2010 by Mortgage Writer
Bank of America has agreed to pay $108 million to about 200,000 homeowners who paid improper and inflated charges to the defunct subprime mortgage lender that became the poster child of the housing apocalypse, Countrywide Financial.
The Federal Trade Commission said two mortgage-servicing units of Countrywide, which BofA acquired in 2008, “deceived homeowners who were behind [...]
Tags: bank of america, borrower, business, financial, homeowners, housing market, interest rates, mortgage market, mortgage servicer, real estate, subprime mortgages
JPMorgan to Sell $716.3 Million of Mortgage Bonds
June 7th, 2010 by Mortgage Writer
JPMorgan Chase & Co. is marketing $716.3 million of bonds backed by commercial mortgages, according to a person familiar with the offering.
The transaction, which is the second of newly issued commercial-mortgage backed bonds to be sold this year, consists of 36 loans on 96 properties, said the person, who declined to be identified because terms [...]
Tags: borrowers, commercial mortgages, economy, federal reserve, financial, financial crisis, homebuyers, housing market, jpmorgan, mortgage market, real estate, US Economy
15-Year Mortgage Rate Falls Again: Can It Go Any Lower?
June 5th, 2010 by Mortgage Writer
The average interest rate for a 15-year fixed-rate mortgage hit a new historic low on Friday — 4.20 percent, down slightly from 4.21 last week. The last time the 15-year rate was that low was August 1991, when Freddie Mac began its weekly survey.
t was the third week in a row that the rate hit [...]
Tags: borrowers, business, economic recovery, economy, federal reserve, financial, Freddie Mac, home buyers, home loans, housing market, interest rates, mortgage lenders, mortgage rates, real estate, tax credit, US Economy
Bank of America Becomes Largest Mortgage Servicer to Join HOPE LoanPort
June 4th, 2010 by Mortgage Writer
HOPE LoanPort(TM), the groundbreaking new web-based housing counselor tool that streamlines submission of completed loan modification applications, announced today that Bank of America, the nation’s largest mortgage servicer, has agreed to use its proprietary technology to partner with non-profit housing counselors to assist homeowners with loan modifications.
Bank of America becomes the 11th mortgage servicer to [...]
Tags: bank of america, economic recovery, financial, homeowners, housing market, interest rates, loan modifications, loan services, mortgage brokers, mortgage servicer
BofA: Mortgage Walkaways Have Huge Incentive
June 3rd, 2010 by Mortgage Writer
This morning executives at Bank of America [BAC 15.922 0.032 (+0.2%) ] rolled out their new “Principal Reduction Enhancement” program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent underwater in value.
The plan is in conjunction with the government’s Home Affordable Modification [...]
Tags: bank of america, customer financial, foreclosures, homeowners, interest rates, mortgage market, mortgage rates, US Economy
Mortgage Rates Stay Low, But So Does Loan Demand
June 2nd, 2010 by Mortgage Writer
Can anyone say “tax-credit-induced hangover”?
Mortgage rates are still near 50 year lows, but demand for new-purchase mortgages fell for the fourth straight week to a new 13-year low, according to the Mortgage Bankers Association.
Average rates on 30-year fixed-rate loans were up slightly last week, to 4.83% from 4.8% two weeks ago. The effective rate, which [...]
Tags: borrower, debt, federal reserve, home buyers, interest rates, Mortgage Bankers Association, mortgage rates, tax credit
Mortgage Services III announces acquisition of Complete Mortgage Inc.
June 1st, 2010 by Mortgage Writer
Mortgage Services III LLC (MSI) has announced the expansion of its home loan division into the Greater Milwaukee area with the acquisition of Complete Mortgage Inc. of Sussex, Wis. The newly acquired team will be located at 20510 Watertown Court in Waukesha, Wis. The Waukesha office will focus on home purchases as well as refinancing [...]
Tags: economy, financial, home loans, investors, mortgage market, mortgage rates, mortgage servicer, The Federal Housing Administration, 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