All posts by Colin Robertson

Delinquency Rate Up on Home Equity Lines

September 26, 2007 No Comments »

The American Bankers Association released its quarterly Consumer Credit Delinquency Bulletin this morning, revealing that many consumer delinquency rates were down aside from home equity lines of credit. According to the report, delinquencies on home equity lines of credit rose ... Read More »

Countrywide Says Fed Rate Cut Spurred Inquiries

September 25, 2007 No Comments »

Countrywide Financial Corp. said Tuesday that last week’s half point Fed rate cut has led to a 40 percent increase in the number of customers inquiring about their mortgage financing options. However, the question remains whether many of those inquiries ... Read More »

Freddie Mac’s Portfolio Nearly Capped

September 25, 2007 No Comments »

Freddie Mac announced Tuesday that its mortgage holdings soared at the fastest rate since December 2005. Freddie Mac’s mortgage retained portfolio grew by an annualized 19.3 percent in August to $732.3 billion, while the company’s mortgage holdings rose for a ... Read More »

No Closing Cost Radio Ad Fanatic Fined

September 24, 2007 No Comments »

The mortgage broker who created the notorious radio ads that refer to the no closing cost loan as “the biggest no-brainer in the history of earth” apparently spent too much time refinancing, and not enough time disclaiming. According to the ... Read More »

Morgan Stanley Accused of Discriminatory Mortgage Lending

September 24, 2007 No Comments »

The National Community Reinvestment Coalition said Monday that it filed a civil rights complaint against Morgan Stanley and some of its subsidiaries, including Saxon Mortgage Inc. According to the advocacy group, Morgan Stanley and subsidiaries discriminated against minority borrowers seeking ... Read More »

HUD Secretary Downplays Housing Crisis, Supports Subprime

September 24, 2007 No Comments »

At the 1st Asia-Pacific Housing Forum in Singapore, Department of Housing and Urban Development Assistant Secretary Darlene Williams played down housing fears and expressed her support for the recent Fed action and subprime lending. Williams noted that the recent half ... Read More »

ABN Amro Mortgage Data Leaked on Popular File Sharing Network

September 23, 2007 No Comments »

A data leak by a former ABN Amro Mortgage analyst put the sensitive information of more than 5,000 mortgage customers at risk of being shared, and ultimately compromised by millions on a popular file sharing application. The former analyst had ... Read More »

Confusion Over Nevada Mortgage Bill

September 22, 2007 No Comments »

A bill intended to protect Nevada homeowners by labeling mortgage lending fraud a crime has led to a great deal of confusion and frustration for lenders and mortgage brokers statewide and beyond. Assemblyman Marcus Conklin, D-Las Vegas, prime sponsor and ... Read More »

Bernanke Addresses Mortgage Concerns

September 20, 2007 No Comments »

In testimony to the House Financial Services Committee, Ben Bernanke outlined the history of the subprime mortgage mess, the recent rise in defaults and foreclosure proceedings, and a plan of attack to quell further problems. Bernanke noted that the advent ... Read More »