foreclosure nation: Facing Foreclosure in California?...Call for help
- 08/26/07 12:12 PM
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 finances, avoid scams, reduce potential liability and possible sell or keep the home. If you are delinquent on your mortgage payments, please call for help. The number is 1-408-561-7295. Irony in action Foreclosures cost the taxpayer in the end A study done by the University of Colorado-Denver last year found on average one foreclosure costs the municipality … (0 comments)
foreclosure nation: lender rumour/ lender crisis
- 08/18/07 07:04 PM
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 outlined in its annual report. Payments were at least 30 days late on about 20% of "nonprime" mortgages serviced by Countrywide as of June 30, up from 14% a year earlier. For all loans, delinquencies were 5%, up from 3.9%. WAMU's wholesale channel is either formally or informally classifying smaller originators as "priority" or "non-priority" accounts. There … (0 comments)
foreclosure nation: meltdown lenders: higher standard guidelines
- 08/18/07 07:00 PM
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 stopped taking locks entirely on their Alt-A Fixed and ARM products. Wells Fargo worsened their Jumbo prices by 1 point and capped them at 100.00 (0 points rebate). Countrywide changed their guidelines and pricing adjustments for their Expanded and Jumbo product lines. Deutsche Bank (who owns MortgageIT), closed their lock desk entirely. Indymac closed their bulk (conduit) desk. Taylor Bean and CSFB are no … (0 comments)
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 finances, avoid scams, reduce potential liability and possible sell or keep the home. If you are delinquent on your mortgage payments, please call for help. The number is 1-408-561-7295. Irony in action Foreclosures cost the taxpayer in the end A study done by the University of Colorado-Denver last year found on average one foreclosure costs the municipality … (0 comments)
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