Some interesting tidbits from a housing symposium held earlier this month involving representatives from Amherst Securities and mortgage insurance company Genworth: Genworth President Kevin D.… Read More »Zero Down Mortgages Three Times More Likely to Default Than Those with 10 Percent Down
Loan servicers participating in the Making Home Affordable program (HAMP) will face possible monetary penalties and sanctions if they fail to meet performance obligations, according… Read More »Push for Permanent Loan Modifications Gets Underway
Comptroller of the Currency John C. Dugan today called on regulators around the world to adopt minimum mortgage standards to address the ongoing mortgage crisis.… Read More »Call for Worldwide Minimum Mortgage Standards
First-time home buyers grabbed the largest market share of home sales on record during the past year, according to a survey released by the National… Read More »First Time Home Buyers Claim Record Market Share
A bill was passed in the state of New York yesterday requiring that a 90-day pre-foreclosure notice currently sent out to homeowners holding subprime loans… Read More »New York Foreclosure Bill Gives All Homeowners More Time
The FHA’s “capital reserve ratio” fell to 0.53 percent of total insurance in force, well below the two-percent Congressionally mandated minimum, according to a release… Read More »FHA Capital Reserve Ratio Falls to 0.53 Percent
A staggering 22 percent of all mortgages in the state of Florida are non-current, according to a new report from Lender Processing Services. By non-current,… Read More »22 Percent of Florida Mortgages Non-Current
Mortgage financier Fannie Mae has unveiled a new foreclosure prevention tool called the “Deed for Lease Program,” which helps struggling borrowers stay in their homes.… Read More »Fannie Mae Deed for Lease Program
Wells Fargo is reportedly converting its $100 billion+ stable of option arms into interest-only mortgages to avoid a complete disaster, according to a piece in… Read More »Wells Fargo Converting Option Arms into Interest Only Loans
Going forward, government sponsored loan modifications will not adversely affect consumers’ credit scores, at least not immediately, according to a report in SF Gate. Fair… Read More »Loan Modifications Will Not Hurt Credit Scores (At the Moment)
