INVESTORS who lost billions on boatloads of faulty mortgage securities have had a hard time holding Wall Street accountable for selling the things in the first place.
For the most part, banks have said they can’t be called out in court on any of this because they had no idea that so many of these loans [...]
Archive for the ‘US Finance’ Category
Mortgage Investors Turn to State Courts for Relief
July 10th, 2010 by Mortgage Writer
Tags: borrowers, business, housing market, investors, money, mortgage lenders, mortgage lending, mortgage market, mortgage payments, mortgage securities, subprime mortgages, wall street
more...Bank Of America Home Loan Refinancing For A Lower Monthly Mortgage Payment
July 9th, 2010 by Mortgage Writer
Mortgage interest rates have been quite low over the past months and remain at levels where many homeowners are able to refinance for a lower mortgage rate and monthly mortgage payment. Homeowners with Bank of America, like many other homeowners with various lenders across the nation, have been able to refinance with their lender to [...]
Tags: bank of america, home loan, homeowners, housing market, interest rates, loan modifications, mortgage lenders, mortgage lending, mortgage market, mortgage payments, Obama, real estate
Signs of Improvement Are Fleeting for Mortgage Delinquencies
July 7th, 2010 by Mortgage Writer
After several months of improvement, mortgage delinquencies rose in May, according to loan data tracked by research firm LPS Applied Analytics.
Nearly 9.2% of all loans were 90 days or more past due at the end of May, up from 9% one month earlier. Those numbers exclude the share of loans in foreclosure, which remained unchanged [...]
Tags: economic recovery, FHA, financial crisis, foreclosures, Freddie Mac, home loans, housing market, investors, mortgage delinquency, mortgage payments, mortgages, real estate, tax credit
Homebuying basics: What is a mortgage
July 6th, 2010 by Mortgage Writer
There is often an assumption that everyone knows what a mortgage is. However, many first time homebuyers only have a very basic grasp of what a mortgage is and what role it plays in enabling them to buy a house. The objective of this article, therefore, is to provide a brief overview of what a [...]
Tags: bank, business, home loans, homebuyers, housing market, interest rates, investors, loan, money, mortgage payments, mortgages, secure loans, subprime mortgages
Wells Fargo Homeowners Refinance For Lower Mortgage Interest Rate–Will A Lower Mortgage Payment Follow?
July 5th, 2010 by Mortgage Writer
Homeowners with lenders like Wells Fargo have been able to refinance for a lower mortgage interest rate, as rates have remained quite low over the past months. Homeowners have sought a lower monthly mortgage payment also, and for many who refinanced and got a lower interest rate on their home loan, a lower mortgage payment [...]
Tags: financial crisis, home loans, homeowners, lenders, loan, money, mortgage market, mortgage payments, mortgage rates, real estate, tax credit, us interest rates, wells fargo
Advantages of Getting a Fixed Rate Term for Your Mortgage
July 3rd, 2010 by Mortgage Writer
Buying the house that you had always dreamed of is usually the culmination of a successful career. However, since you probably will secure a mortgage to have your dream house, the biggest consideration would most likely center whether you will go for a fixed rate mortgage or adjustable rate mortgage. Naturally, you would want a [...]
Tags: borrowers, financial, home loans, homebuyers, housing market, interest rates, money, mortgage loans, mortgage market, mortgage rates, real estate
U.S. housing market remains fragile despite low mortgage rates
July 2nd, 2010 by Mortgage Writer
After showing signs of a fledgling recovery from the worst downturn in decades, the U.S. housing market appears to be heading back toward the doldrums, as the expiration of a lucrative tax credit for buyers and increased uncertainty about the economy cause home sales to plummet.
The sudden weakness in residential real estate has struck nearly [...]
Tags: economic growth, home sales, housing market, interest rates, mortgage payments, mortgage rates, real estate, tax credit, Unemployment Rate, US Economy
Mortgage delinquencies fall but foreclosures up sharply
July 1st, 2010 by Mortgage Writer
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Three years have passed since the mortgage debacle made most sub-prime and nontraditional loans unavailable, and most loans since have been “plain vanilla” fixed-rate mortgages to prime-credit borrowers. The [...]
Tags: commerce department, financial market, foreclosures, home foreclosures, homeowners, housing market, loan modifications, Mortgage Bankers Association, mortgage payments, prime loans, tax credit
Banks Return to Commercial Mortgage Bonds
June 30th, 2010 by Mortgage Writer
Once dominant, and then dormant, commercial real estate loans are beginning to show signs of life on the trading floor after a two-year slump, Jotham Sederstrom reports in The New York Times.
Attracted by more conservative underwriting and the perceived bottoming-out of property values, banks like J. P. Morgan Chase and the Royal Bank of Scotland [...]
Tags: borrowers, commercial real estate, financial market, investment, jpmorgan, mortgage backed securities, real estate loans, stock markets, wells fargo
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford [...]
Tags: borrowers, business, financial, financial crisis, home loans, homebuyers, housing market, interest rates, lenders, mortgage, Mortgage Bankers Association, mortgage lenders, mortgage payments, real estate, subprime mortgages, us consumer
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