Guaranty Bank FSB (of Wisconsin) announced today that it is shuttering its wholesale mortgage lending unit GB Mortgage. “Effective today, April 30, 2009, GB Mortgage,… Read More »Guaranty Bank to Shut Wholesale Mortgage Lending Unit
No, you may not have cash with that… Only 42 percent of refinances carried out during the first quarter resulted in cash out, according to… Read More »Cash Out Refis Hit Five Year Low
Legislation aimed at providing a so-called “safe harbor” for loan servicers will actually lead to more abuse and shoddy loan modifications, according to a report… Read More »Report: Loan Servicer Safe Harbor Will Foster Shoddy Loan Mods
More shenanigans at the FHA. The nomination of FHA commissioner David H. Stevens was held up yesterday thanks to a lawsuit involving his current employer… Read More »FHA Commissioner Nomination Held Up by Lawsuit
MGIC reported its seventh straight quarterly loss today and disclosed that it was actively seeking capital to ensure it can continue to write new mortgage… Read More »MGIC Seeking Capital to Continue Writing New Mortgage Insurance
The Treasury today announced details of the so-called “Second Lien Program,” which will work in tandem with the existing Home Affordable Modification Program to ensure… Read More »Treasury Unveils Second Lien Program, Pushes Hope for Homeowners
The National Association of Mortgage Brokers (NAMB) Friday called on its members to contact their Senators and/or Representatives to stop or halt the Home Valuation… Read More »Mortgage Brokers Fight To Stop HVCC
Most homeowners in trouble these days purchased real estate at the height of the housing boom, around 2006 and 2007. Many of these borrowers also… Read More »Home Prices Set to Fall to 2002 Levels
In response to consumer desire for increased transparency in the home loan process, Bank of America has launched its so-called “Clarity Commitment” to promote responsible… Read More »Bank of America’s Clarity Commitment
A record 135,431 default notices were sent to California homeowners during the first quarter of the year, up 80 percent from the fourth quarter and… Read More »California Mortgage Defaults Climb 80 Percent to Record High
