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 [...]
Posts Tagged ‘economy’
Avoiding Mortgage Scams
June 21st, 2010 by Mortgage Writer
Tags: borrowers, economy, foreclosure, housing market, loan, money, mortgage lenders, mortgage market, real estate
more...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
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
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
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
One in 25 mortgage holder in arrears
May 28th, 2010 by Mortgage Writer
ONE IN every 25 Irish residential mortgage holders is more than three months in arrears on repayments, according to figures published yesterday by the financial regulator. And almost 22,000 people are struggling with arrears of more than six months on their home loans.
However, the number of repossessions and court proceedings against homeowners fell in the [...]
Tags: economy, financial, financial crisis, home loans, homeowners, housing market, mortgage, real estate, us central bank, US Economy
Expiring tax credits boost new home sales; mortgage rates, falling prices help
May 27th, 2010 by Mortgage Writer
New home sales surged last month as home buyers rushed to take advantage of tax credits that have helped lift the housing market, according to government data released Wednesday.
Sales of new single-family homes rose 14.8 percent in April, compared with March, to a seasonally adjusted annual rate of 504,000, according to Commerce Department data. Sales [...]
Tags: economy, financial, homebuyers, housing market, investors, mortgage rates, tax credit, US Economy
Nationwide Home Loans Fall 37% on Contracting British Market
May 26th, 2010 by Mortgage Writer
Nationwide 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.
British house prices will be “flat” this year, the Swindon, England-based company said in a statement today. Nationwide’s residential mortgage customers repaid 3.6 billion pounds [...]
Tags: borrower, economy, financial, financial crisis, home loans, homeowners, interest rates, mortgage lenders, mortgage lending, mortgage market
Mortgage loan modification and credit scores
May 24th, 2010 by Mortgage Writer
A mortgage loan modification can prevent foreclosure but inevitably will damage your credit.
Homeowners struggling to make their house payments may seek a mortgage loan modification in hopes of avoiding foreclosure and protecting their credit score. However, loan modifications also take a toll on those scores.
In theory, a loan modification should be a mutually acceptable solution [...]
Tags: borrowers, credit, economy, financial, foreclosures, homeowners, investors, lenders, mortgage debt, mortgage loans, mortgage payments, US Economy
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