All posts by Colin Robertson

More Mortgage Woes

August 7, 2007 No Comments »

Just what is this whole mortgage business built on anyway? Check out my newly updated list of closed lenders! HomeBanc is exiting the mortgage loan business and seeking the sale of remaining assets. Countrywide, the nation’s largest mortgage lender, will ... Read More »

Subprime Dead, Alt-A Next in Line

August 3, 2007 No Comments »

Now that subprime mortgage is completely blown out, many credit rating agencies are turning their attention towards Alt-A loans, which are typically reserved for borrowers with good, not great credit, and reduced documentation and limited reserve requirements. Below is a ... Read More »

American Home Mortgage Closes Doors

August 3, 2007 No Comments »

American Home Mortgage Investment Corp., the under pressure mortgage lender who had earlier in the week announced fresh layoffs, has announced today that it will shut down and layoff more than 6,250 of the remaining employees. Melville, New York-based American ... Read More »

Indymac Sees 57% Drop in Second-Quarter Net Income

July 31, 2007 No Comments »

IndyMac Bancorp announced earnings this morning, beating street estimates, but seeing a 57% drop in second quarter net income as a result of the mortgage woes felt nationwide.Net income dipped to $44.6 million, or 60 cents per share, from $104.7 ... Read More »

New York Pledges $100 Million to SONYMA Refinance Program

July 30, 2007 No Comments »

The state of New York and the mortgage industry have come together to create a new program called “Keep the Dream” administered by the State of New York Mortgage Agency, or SONYMA, to stop loan foreclosure. The new loan program ... Read More »

Quicken Loans Secure Advantage Loan Review

July 27, 2007 No Comments »

I recently saw an advertisement for the Quicken Loans “Secure Advantage loan,” so I thought I’d do a review to determine if this is a good deal or just another marketing gimmick. You’re Getting a Neg-Am First and foremost, the ... Read More »

Mortgage Bubble Byproduct: Homeowner Education

July 17, 2007 No Comments »

All this talk about the mortgage industry hitting a wall has actually turned into something really positive. The housing bubble and subprime blowout have generated a dialogue about mortgages nationwide, with the surprising byproduct being education. Through all the stories, ... Read More »

Pay Rate vs. Teaser Rate

June 28, 2007 No Comments »

If you scan through mortgage programs and lender rate sheets you may have come across mortgage lingo such as “pay rate” or “teaser rate”. Though the two terms are sometimes used interchangeably by loan officers, mortgage lenders, and mortgage brokers, ... Read More »

Predatory Lending Q & A

June 19, 2007 No Comments »

I did a recent interview regarding predatory lending. I thought I’d share it here to offer a better insight as to what predatory lending is, and how it can affect you and your family. 1. How would you define predatory ... Read More »