The $800 billion stimulus bill signed into law last week will have a massive impact on refinance volume, but not so much on purchases, according… Read More »Stimulus Bill to Push Refinance Volume 55 Percent Higher
Last week, consumer advocacy group ACORN broke into a foreclosed home in Baltimore to reclaim ownership for a past homeowner, leading to the arrest of… Read More »ACORN Foreclosure Victim Not So Innocent
Mortgage financier Freddie Mac is reportedly conducting a self-investigation of its past lobbying efforts, according to the AP. Specifically, lawyers hired by the company are… Read More »Freddie Mac Investigating Itself
Last month, an estimated 29,458 new and resale homes and condos sold in California, according to DataQuick. That’s down 22.1 percent from the 37,836 sales… Read More »Sixty Percent of California Resales Previously Foreclosed On
In an earlier post, I mentioned that some major critics like the MBA are worried about the impact of Obama’s foreclosure prevention plan on private-label… Read More »Private Label Mortgages Root of Problem, But Not Focus of Foreclosure Prevention
Sad news folks. On April 27, Bank of America will re-brand Countrywide Financial to “Bank of America Home Loans,” according to a report today in… Read More »Countrywide Name to be Retired in April
Many banks and mortgage lenders pledged their support for Obama’s new “Homeowner Affordability and Stability Plan” by extending foreclosure moratoria, but questions are also beginning… Read More »What About Jumbos and Underwater Borrowers?
President Obama and the Treasury Department today unveiled a much anticipated foreclosure prevention plan that will rely heavily on mortgage financiers Fannie Mae and Freddie… Read More »Obama Foreclosure Plan Aims to Help up to Nine Million Homeowners
Things are looking up, kind of. As expected, higher conforming loan limits and a larger homebuyer tax credit are part of the latest stimulus package… Read More »Higher Loan Limits, Tax Credit Included in Stimulus
Equifirst announced today that effective immediately, it will be ceasing lending operations. Going forward, the Charlotte, North Carolina-based mortgage lender will no longer accept applications… Read More »Equifirst to Halt Lending Operations
