raman kandola's (kandolamortgage) Blog

Facing Foreclosure in California?...Call for help Kandola Mortgage Services launched a Foreclosure Hotline this week. It's purpose is to assist people who are delinquent on the mortgages. Counselors will act as intermediaries between homeowners and lenders, to work out a game plan, help organize ...

Capital One Closes Wholesale Mortgage UnitRevises 2007 EPS guidance down by $2.15 per share; expects 2007 EPS of approximately $5.00 per shareMCLEAN, Va., Aug 20, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Capital One Financial Corporation (NYSE: COF) today announced that it will ceas...

 Less than two years after its launch, Trump Mortgage is gone, due to the market and the disclosure that the firm's chief executive, E.J. Ridings, had inflated his credentials, the outfit never came close to reaching its financial goals. Donald Trump said that it was just a "licensing deal" and h...

Bear Stearns changed their product offerings on Friday. They suspended "No Ratio", NIVA, and "No Doc", all second home and investment loans, and their "No MI" programs.Citi (at the risk of possibly repeating myself) is discontinuing the following programs: for Prime Lending, NIVA & NINA for Non-A...

Countrywide said that "disruptions in credit and secondary mortgage markets pose a risk to the company and could hurt its financial condition in the short-term". CW made the disclosure in a filing with the Securities and Exchange Commission, supplementing other "risk factors" the company had outl...

RFC changed their Jumbo A, Expanded Criteria, and Payment Option pricing adjustments.WAMU ceased doing any low-doc transactions whatsoever with FICO's less than 680 and LTV's greater than 65%.MortgageIT discontinued their No Ratio, No Doc, and SISA loans for several of their products.Greenpoint s...

  Housing creates a lot of ancillary economic activity and jobs: some say that housing and related industries account for almost 25% of gross domestic product! Companies that make anything that goes into a home, all the wiring, plumbing, anything related to coatings and fixtures, will certainly b...

 The most negative analysts believe that because loan standards are now much tougher, at least 10% to 15% of the people who could have qualified for a home-purchase loan last year can't do so now. Meanwhile, many of the people who would still qualify for a loan don't want to buy a house now becau...

Among the 20 largest subprime lenders in 2006 ranked by Inside Mortgage Finance more than half have tried to sell themselves or left the business. The list includes companies that may have offered subprime, prime or Alternative-A loans. Some of the most recent developments: American Home Mortgage...