mortgage: Bankers Meeting On Capital Hill - 03/27/09 06:26 PM
President Barack Obama sat down with CEO's from Bank of America, Bank of New York Mellon, JPMorgan Chase, Goldman Sachs and U.S. Bancorp today to discuss the current economic crisis.
In a press release, Secretary Robert Gibbs noted that Obama was pleased with the meeting stating Obama as saying "they had … (0 comments)
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mortgage: Fannie Mae, Freddie Mac: Where Do They Stand - 07/20/08 12:51 PM
It is no doubt that Fannie Mae and Freddie Mac are the backbone to the success of the US mortgage industry. So how is it that these two mortgage giants came to a position where the government is stepping in to make certain that they do not fail?
Fannie Mae, created … (0 comments)
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mortgage: Home Ownership Just Became More Affordable - 05/18/08 10:16 PM
Coming into the month of May the biggest concern for the US economy was the grim outlook many economist had on inflation. Inflation was expected to push mortgage rates higher and slow an already slow US housing market.
However, economic reports have been coming in better than expected week after week. … (0 comments)
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mortgage: The U.S. House of Representatives Passes American Housing Rescue and Foreclosure Prevention Act - 05/12/08 03:26 PM
The new act which was passed on May 8th, 2008 will help those facing foreclosure to refinance into an affordable FHA mortgage and help make homeownership more affordable for first time homebuyers.
The first amendment to the new act includes an amendment to the FHA Housing Stabilization and Homeownership Retention Act … (0 comments)
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mortgage: Fannie Mae Releases Warning To Those Facing Foreclosure - 04/13/08 03:07 AM
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mortgage: Washington Mutual Dropping Wholesale Mortgage Lending - 04/10/08 06:42 PM
Washington Mutual, once the second largest residential mortgage lender in the US will stop originating mortgage loans through independent mortgage brokers. However, WAMU will still originate mortgage loans through its 2,200 retail bank branches located throughout the country.
Washington Mutual was an early leader to offer subprime adjustable rate mortgages to … (0 comments)
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mortgage: Refinancing Boom Amid Falling Mortgage Rates - 03/26/08 12:37 PM
Refinancing Boom Amid Falling Mortgage Rates
Mortgage applications nearly doubled last week after the Federal Reserve slashed interest rates by 0.75 percent last week.
Refinance mortgage applications increased by 82 percent last week as mortgage rates begun to decline for the first time since February 2008. Home purchase applications also increased … (0 comments)
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mortgage: Have Home Prices Hit Bottom? - 03/24/08 12:48 PM
The data for February existing home sales are in, and the numbers came in stronger then expected. Could this be the first signal to the US housing market recovering?
At this point it is really hard to say as many lenders have begun to make home financing for A+ clients nearly … (0 comments)
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mortgage: Mortgage Rates Fall During Week - 03/20/08 03:35 PM
This week there has been a number of huge factors contributing to the recent decline in mortgage rates. The Fed has lowered interest rates by 0.75 percent, JP Mortgage purchase Bear Sterns and Fannie Mae and Freddie Mac are pumping $200 billion into the housing industry.
The 30 year fixed rate … (0 comments)
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mortgage: Fed Rate Cut – Mortgage Rate Affect - 03/18/08 04:49 PM
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mortgage: Let The Mortgage Bailout Begin - 03/11/08 11:58 PM
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mortgage: Mortgage Rates Update - 03/07/08 02:39 PM
The U.S. economy is showing further signs of weakness as mortgage rates take a slight dip throughout the week.
30 year fixed rate mortgages averaged 6.03 percent throughout the week, down from 6.24 percent last week. Last year at this time the average 30 year fixed rate mortgage was at … (0 comments)
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mortgage: Im Sorry... You Can't Be My Appraiser Anymore - 03/04/08 06:56 PM
Monday Fannie Mae and Freddie Mac announced that they would no longer purchase mortgages from lenders who use their "own" residential appraiser. Although the new change won't take effect until 2009, many appraisers who work for an appraisal institution owned by a mortgage lender may be looking for a new job.
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mortgage: Fannie & Freddie.... Setting Up The Mortgage "Bailout" - 03/02/08 11:26 PM
It has been said by many experts around the country that government would not look to "bailout" banks to fix the mortgage problem but, if it was 2 government backed entities would that make a difference?
Even with the loss of billions of dollars that Fannie and Freddie both posted just … (0 comments)
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mortgage: Mortgage Rates On The Rise - 02/22/08 03:36 PM
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mortgage: Mortgage Rates, Inflation, Unemployment… Oh My. - 02/21/08 01:57 AM
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mortgage: Second Fed Rate Cut This Month - 01/30/08 03:27 PM
Future Planning Financial
Strictly Mortgage
For the second time this month the Federal Reserve has slashed key interest rates in hopes of stimulating the U.S. economy. Although the rate cut does not tie directly into mortgage rates, mortgage rates have been on a downward spiral for the past month.
One week … (0 comments)
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mortgage: Mortgage Rates Spiraling Downwards - 01/25/08 07:58 PM
Future Planning Financial
Strictly Mortgage
Thanks to the Federal Reserve’s emergency rate cut earlier in the week, fixed rate mortgages have declined for the fourth straight week in a row. The news has brought forth a refinance boom that could save many homeowners from their adjustable rate mortgages and possibly cut … (0 comments)
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mortgage: Missouri Homeowners To Receive $99 Million From Mortgage Lenders - 01/05/08 03:39 PM
Three mortgage lenders were ordered to pay $99 million in punitive damages to Missouri residents who were charged illegal fees on second mortgages. On top of the $99 million in punitive damages, another $5.1 million in actual damages was ordered to be paid.
GMAC Mortgage Group, one of the three lenders, was … (0 comments)
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mortgage: Chicago Bank To Offer Reverse Mortgages - 01/05/08 02:03 PM
First Midwest Bancorp Inc. has decided to stop lending practices tied to traditional mortgage originations and has began to focus on reverse mortgages instead.
First Midwest Bancorp Inc. is one of the biggest locally headquartered banks in the Chicago area. Cynthia Lance, executive vice president and corporate secretary said, "We have … (0 comments)
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