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 [...]
Posts Tagged ‘mortgage’
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
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
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
The Home Loan Modification Program Brings Mortgage Aid To Struggling Homeowners
May 31st, 2010 by Mortgage Writer
There have been many complaints about lenders and the home loan modification program as a whole from homeowners who are very upset with their experience in seeking a loan modification on their home. Many people have been using mortgage modifications as a way to get a more affordable mortgage payment during these tough economic times.
Many [...]
Tags: economic recovery, financial, homeowners, investors, mortgage, mortgage market, mortgage payments, Treasury Department
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
Tax-credit deadline passes, mortgage applications swoon
May 23rd, 2010 by Mortgage Writer
You didn’t need to wait long for a sign of what the end of the home buyer tax credit program means: Mortgage applications by buyers fell 27 percent last week — following a 10 percent drop the week before — to their lowest level in 13 years.
“The data continue to suggest that the tax credit [...]
Tags: economy, financial, homebuyers, homeowners, interest rates, mortgage, Mortgage Bankers Association, mortgage payments, mortgage rates, tax credit, treasurys, US Economy
Most Mortgage Rates Hit Lowest Levels In Years -Freddie
May 20th, 2010 by Mortgage Writer
Mortgage rates declined again this week, deepening from last week’s levels that were already the lowest of 2010, with many reaching the lowest levels in years, according to Freddie Mac’s (FRE) weekly survey of mortgage rates.
They have followed U.S. Treasury yields lower the past several weeks as investor concern builds about Europe’s economic future. The [...]
Tags: banks, business, economic recovery, economy, europe, financial, Freddie Mac, investors, mortgage, mortgage rates, treasury
Greece’s debt crisis pushes down mortgage rates here
May 18th, 2010 by Mortgage Writer
Many consumers may not be able to take advantage.
Blame Greece’s debt crisis for contributing to the recent drop in your stock portfolio, but give it credit for something that could benefit consumers: lower mortgage rates.
Last week, rates on fixed-rate mortgages fell to their lowest level this year, while rates on adjustable-rate loans dipped to a [...]
Tags: economic recovery, economy, federal reserve, financial, financial crisis, Freddie Mac, interest rates, investors, mortgage, mortgage rates, US Economy
Mortgage Advance Boost For First-Time Buyers
May 17th, 2010 by Mortgage Writer
Housing market activity gained pace in March as the number of mortgages offered to home buyers rose by 25%.
Around 45,000 mortgages were granted for house purchase during the month, up from 36,000 in February, according to the Council of Mortgage Lenders (CML).
The value of the loans offered in March added up to £6.3bn - a [...]
Tags: economic recovery, economy, financial, home loans, homebuyers, housing market, mortgage, mortgage lenders, mortgage rates, mortgages, US Economy
Hung Parliament Means Fix Mortgage Rate Now!
May 15th, 2010 by Mortgage Writer
Despite a small recovery in the housing market over the months prior to the general election, many industry experts are warning of a sharp halt to this as a result of a hung Parliament. A decisive result either way would have been a much better result for the property market as there would be more [...]
Tags: business, economic recovery, economy, financial, homebuyers, housing market, investors, money, mortgage, mortgage market, mortgage rates, sellers, US Economy
Prosecutors comb through Wall Street’s mortgage deals
May 14th, 2010 by Mortgage Writer
Wall Street’s biggest banks are facing a new legal onslaught, as regulators and state and federal prosecutors pore over their activities in the mortgage market in the run-up to the credit crisis.
Andrew Cuomo, the attorney-general of New York state, has opened an investigation into whether any of the eight leading banks misled the credit rating [...]
Tags: bank of america, banks, brokers, economy, financial, Goldman Sachs, interest rates, mortgage, Mortgage Bankers, mortgage brokers, US Economy, wall street
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