Mortgage News

First Magnus, the nation’s 22nd largest residential mortgage lender announced on their website this morning that they are no longer funding any home loans. The… Read More »First Magnus Financial Closed

After a terrible day on Wall Street, with shares of his company shedding nearly half their market value, Thornburg Mortgage president Larry Goldstone attempted to… Read More »Thornburg Stock Tumbles, Bankruptcy Ruled Out

Fannie Mae and Freddie Mac’s appeals to raise limits on their existing loan portfolios were met with disapproval by both the Bush Administration and the… Read More »Fannie and Freddie Asset Limits Unchanged

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… Read More »American Home Mortgage Closes Doors

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… Read More »Indymac Sees 57% Drop in Second-Quarter Net Income

Sir Richard Branson and his seemingly never-ending business plan has entered a new industry, surprisingly, mortgage. While many critics may think his timing is a… Read More »Richard Branson Enters Mortgage Biz with New Acquisition

You guessed it. The option arm that was so highly publicized and criticized has become a favorite for lawyers nationwide. Instead of condemning the program,… Read More »Hello Option Arm Lawsuits

While many cities throughout the United States deal with bubble trouble, California has managed to hang onto a good chunk of its housing gains from… Read More »California Housing Market Still Strong

Well, the housing market may have burst, but the years of upside in the Southern California housing market have provided enough strength to keep home… Read More »Southern California Homeowners Still Seeing Green