lenders: An Important Message from Countrywide - 01/10/08 01:50 PM
I got the e-mail!
Countrywide denying rumers of filing BK....
:-)
Dear Business Partner: Yesterday, rumors circulated about Countrywide's financial condition that caused concern among our Business Partners and employees. While our policy is that we typically do not comment on rumors, yesterday's unique circumstances led to Countrywide issuing the below statement that I … (3 comments)
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lenders: My E-mail from Homecomings Financial (GMAC) - 11/04/07 08:37 AM
It looks like lenders are really trying to insure consumer confidence these days!!
HOMECOMINGS FINANCIAL, LLCf/k/a HOMECOMINGS FINANCIAL NETWORK, INC.DECLARATION OF FAIR LENDING POLICY & PRACTICESFair Lending PolicyHomecomings Financial, LLC (Homecomings Financial) is committed to the principle of providing access to mortgage credit for all people, regardless of race, color, religion, national … (6 comments)
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lenders: Lenders are TOUGH on appraisals in this declining market! - 10/31/07 08:52 AM
I am seeing a lot of appraisals come up for reveiw these days! Even FNMA had a new DU finding regarding appraisals!
Investors and agencies are intensifying their review of property values.
The appraisal report must adequately support the opinion of value and property description, utilizing available public and non- public information … (3 comments)
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lenders: Sub-Prime lender ResMAE Mortgage is back - 10/29/07 09:12 AM
Sub-Prime is making it's way back...but is a little stricter and the rates are definately higher!
Here is the information we discussed. Our focus is the sub-prime market; here is a sample of what we can do.
Loans to 1.25 million to 80% LTV (min. 620 score, full doc) Loans to 1 million … (2 comments)
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lenders: Countrywide is feeling brave..or at least wants you to think so! - 10/29/07 09:06 AM
I got this e-mail from countrywide this morning...
It looks like they are really trying to lay on the confidence bit pretty thick.
Dear Business Partner: By now you are probably aware that Countrywide Financial reported our third quarter earnings earlier today. I wanted to take this opportunity to personally communicate with you … (1 comments)
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lenders: Lenders are putting pressure on appraisals!! - 09/26/07 09:47 AM
Investors and agencies are intensifying their review of property values.
The appraisal report must adequately support the opinion of value and property description, utilizing available public and non- public information concerning local trends in home prices.
Recent FNMA Announcements discuss the following:
Reiteration of basic appraisal guidelines New DU message for … (5 comments)
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lenders: HSBC shutting Decision One Mortgage unit - 09/21/07 04:37 PM
SAN FRANCISCO (MarketWatch) -- HSBC Holdings said on Friday that it's shutting one of its U.S. subprime mortgage businesses, a move that will trigger an $880 million accounting hit and $65 million in costs for the bank's HSBC Finance division.
The closure of Decision One Mortgage, which offers home loans through … (6 comments)
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lenders: My e-mail from Accredited this morning. DOORS CLOSED! - 08/22/07 09:20 AM
Valued Broker,
As you are aware, the non-prime mortgage industry is facing a severe liquidity crisis that's affected even the largest players in our space. Currently, the secondary market for loans has shut down for all but conforming loans and the price for non-prime and Alt-A loans is well below par. Regrettably, … (10 comments)
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lenders: Accredited Sub-Prime sets the record straight... - 08/02/07 09:32 AM
I just received an e-mail from Accredited this morning that I thought I would share with you...
Industry Challenges Continue, Accredited Perseveres!As announced previously, Accredited has entered into a definitive merger agreement with affiliates of Lone Star Fund V (U.S.) L.P. ("Lone Star") in which Lone Star has agreed to acquire all … (0 comments)
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lenders: First Frankilin Sub-Prime tightens up! New Guidelines... - 07/23/07 10:07 PM
… (1 comments)
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lenders: Stone Creek Funding is gone too?!?! - 07/12/07 09:53 AM
I received this e-mail and thought I would share...
I am very sorry to announce that Morgan Direct, formerly known as, Stonecreek Funding has closed its doors. For those of you that I have had the opportunity to work with I would really like to apologize. I know it is hard enough … (2 comments)
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lenders: 2 more sub-prime lenders are GONE, GONE... - 06/19/07 10:29 AM
According to ml-implode.com,
THE MORTGAGE WHAREHOUSE based in Clearwater, Florida, had ceased lending operations. based in Clearwater, Florida, had ceased lending operations
also, FIRST STREET FINANCIAL. Their voice message says they are shut down as of June 15th. They were a sub-prime lender here in the Mid-West.
I don't know about you....but I … (7 comments)
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lenders: Full LONG List of the "Imploded" Lenders! - 06/11/07 10:45 AM
CREDIT: THIS IS THE Mortgage Lender Implode-O-Meter - TAKEN FROM http://ml-implode.com/. A GREAT WEBSITE WITH A WEALTH OF INFORMATION!! PLEASE CHECK IT OUT!
Our list of lending operations that have "imploded" (see also ailing lenders). "Imploded" is somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, … (24 comments)
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