The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
Indymac Bancorp said today on its company blog that a class action lawsuit filed against the company yesterday by the law firm of Schatz Nobel… Read More »Indymac Calls Class Action Lawsuit Totally Bogus
FHA Commissioner Brian D. Montgomery said today that his organization realized $4.6 billion in “unanticipated long-term losses,” largely due to an increased number of seller-funded… Read More »Down Payment Assistance Loans Drive $4.6 Billion Loss at FHA
A new study conducted by former HUD chief economist Susan Woodward reveals the need for improved disclosure of home loan terms and associated fees. Woodward’s… Read More »Study Supports Need for Better Mortgage Disclosure
Shares of the nation’s top residential mortgage lender slid more than 20 percent this week as warnings from analysts and investor jitters took their toll… Read More »Countrywide Shares Fall 20 Percent Amid Deal Concerns
The percentage of refinances that were used for cash-out fell to the lowest level in four years during the first quarter, according to Freddie Mac’s… Read More »Freddie Mac: Cash-Out Refinances at Four Year Low
The FDIC has whipped up a new proposal that would allow the Treasury Department to modify approximately one million loans for at-risk borrowers who are… Read More »FDIC Offers Up Home Ownership Preservation Loans
What a difference a mortgage crisis can make. Take a look at select mortgage stocks and their market cap declines from June 2007 to the… Read More »Mortgage Bust Market Cap Impact
Wells Fargo released its first-quarter earnings today, reporting net income of $2 billion, or 60 cents per share, compared with profit of $2.24 billion, or… Read More »Wells Fargo Reports First Quarter Profit of $2 Billion
U.S. Senator and presidential hopeful John McCain delivered a speech today at a small business roundtable in Brooklyn, unveiling his so-called “HOME” plan to tackle… Read More »Senator McCain Unveils Mortgage Refinance Plan
Word on the street is that Washington Mutual plans to scrap wholesale mortgage lending, following in the footsteps of Bank of America and scores of… Read More »WaMu to Halt Wholesale Mortgage Lending
