Mortgage Servicer Profits May Threaten Obama Housing Programs
Thursday, March 17th, 2011Mortgage 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.
A Surprise Tax Hit on Foreclosures
Wednesday, March 16th, 2011For People Who Lose or Walk Away From Their Homes, A Big Tax Bill May Loom.
Nationwide Home Loans Fall 37% on Contracting British Market
Wednesday, March 16th, 2011Nationwide Building Society, the U.K.’s largest customer-owned lender, said gross residential mortgage lending dropped 37 percent to 12 billion pounds ($17.2 billion) in the last fiscal year as housing transactions slumped.
Mortgage Rates Stay Low, But So Does Loan Demand
Wednesday, March 16th, 2011Can 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.
BofA to pay $108M for Countrywide mortgage abuses
Wednesday, March 16th, 2011Bank 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.
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