Mortgage News

The latest industry news, digested.

Many California Counties Get Maximum FHA Loan Limit

March 5, 2008 No Comments »

Thousands of California borrowers are likely to benefit from the higher loan limits backed by the FHA over the next year and change, U.S. Department of Housing and Urban Development Secretary Alphonso Jackson said today in a number of speeches ... Read More »

Half of U.S. Metros Experience Home Price Decline

February 14, 2008 No Comments »

More than half of the 150 metropolitan areas studied by the National Association of Realtors showed price declines in the fourth quarter, according to the group’s latest quarterly survey. Of the 77 “metropolitan statistical areas” that showed a drop in ... Read More »

Bank of America to Buy Countrywide

Bank of America to Buy Countrywide
January 11, 2008 No Comments »

Rare Opportunity for BofA? As expected, Bank of America announced this morning that it would buy struggling mortgage lender Countrywide Financial for $4.1 billion in stock, rescuing the nation’s top lender while bolstering its own position. “Countrywide presents a rare ... Read More »

NY AG Sues First American, eAppraiseIt Unit

November 1, 2007 No Comments »

New York Attorney General Andrew Cuomo announced today that his office sued Santa Ana-based First American Corp. and its eAppraiseIt mortgage appraisal unit for falsely inflating house values. According to the press release, Cuomo said First American allegedly conspired with ... Read More »

GE Money to Invest $200M in Indian Mortgage Venture

September 20, 2007 No Comments »

While credit markets slump in much of the West, India is experiencing its very own mortgage boom. Wizard Home Loans, a subsidiary of General Electric’s retail finance arm GE Money plans to invest $200 million in India by 2011. The ... Read More »

Beware of Foreclosure Assistance Programs

September 16, 2007 No Comments »

As foreclosures continue to rise, more “angels” are on the lookout for people to “save”. If you’re behind on your mortgage payments, you may have noticed an increase in solicitations via mail or telephone from companies offering to help you ... Read More »

Equifirst Layoffs in Charlotte

August 29, 2007 No Comments »

It’s been reported that Equifirst laid off as many as 430 employees if not more at its company headquarters in Charlotte, North Carolina Tuesday, according to local affiliate News 14. According to a local news report, security guards stood at ... Read More »