mortgage industry news: The Best Borrowers Now Feel Interest Rate Pain - 03/06/08 10:48 AM
Bloomberg.com on 3/5/08 reported that the economic stress from both sub-prime mortgage loan failings and decreasing housing values is now being felt by all borrowers. The people taking out mortgages who have excellent credit and qualifications, the best borrowers, now feel interest rate pain due to investors requirements for yield on … (0 comments)
mortgage industry news: 7 Mortgage Related Details in the Economic Stimulus Bill You Should Know - 02/13/08 12:47 AM
1) The new loan limits go into effect on CONVENTIONAL mortgage loans originated beginning on July 1, 2007 and ending on December 31, 2008 2) Conventional Loans can be made to the HIGHER of the current conventional loan limit ($417,000) or 125% of the area median home price as determined by HUD … (13 comments)
mortgage industry news: Will the Government Change FHA to Help? - 08/27/07 10:45 AM
Lawmakers continue to push the current administration to find more ways to help out homeowners facing foreclosure. Debate continues regarding the foreclosure rate as to the responsibility of government to step in and aid home owners who took out sub-prime adjustable rate loans. While not consistently divided among party lines, a … (7 comments)
mortgage industry news: Just the TIP of the Stated Income Fraud ICEBERG - 12/22/06 12:24 AM
According to Anchorage Daily News and other internet news sources, indictments were handed down in federal court Wednseday for mortgage fraud and named Koursosh Partow as the defendant. Mr. Partow is accused of submitting loan applications to lenders wherein the income and assets of the borrower was misprepresented and overstated. In the past, … (6 comments)
mortgage industry news: The Unexpectedly High Cost of Cold Calling - 12/11/06 07:22 AM
In November 06, the Associated Press published an article with the headline "FTC Hits Telemarketers With $500k Fines" about mortgage company telemarketing. Apparently two Maryland-based companies were fined up to $500,000 to settle charges by the FTC that they called people on the Federal Do-not-call registry. What I found interesting was that … (0 comments)
mortgage industry news: Why Michigan vs. Wachovia Matters...A Lot - 12/08/06 04:08 PM
I wrote an article on this topic last week at mortgagenewsreview.com and wanted to share it with the active rain community. What happens in our industry too often is that we gloss over the important news and read only that which is bizarre or outrageous in the headline. Right now, there … (0 comments)
mortgage industry news: Housing Trends Among Baby Boomers Study - Impact on Second Home Market - 11/12/06 10:42 PM
The Research Institute for Housing America in conjunction with the Mortgage Banker's Association and Radian mortgage insurance completed a study of housing trends among baby boomers. The focus of the study was in two key areas. 1) What are the trends of second home ownership among baby boomers2) Are suburban empty-nesters flocking … (4 comments)
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