Don’t Use Pennies to Pay Your Mortgage
You may have read a certain ABC news report that a man made his final mortgage payment with pennies he had collected over the years.… Read More »Don’t Use Pennies to Pay Your Mortgage
Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
I’ve been covering the mortgage industry since 2006, at a time when scores of banks and lenders were closing their doors after some very big boom years.
In fact, you can see my ongoing list of mortgage layoffs and closures if you’re curious just how many companies didn’t survive that period.
Fortunately, the climate has improved considerably since then, despite a big uptick in mortgage rates lately.
This too has led to companies merging or folding entirely, though this time around due to a lack of volume as opposed to an increase in loan defaults.
I strive to write compelling mortgage news stories, whether it’s the top lenders for a given year, a novel mortgage product, new loan limits, or a big policy change.
You can see all my latest mortgage news posts below.
Housing Bottom Now Expected in 2013, Recovery Looks Weaker
There’s been a lot of interesting housing-related news over the past week, with some good and some bad. The first bit is that economists finally… Read More »Housing Bottom Now Expected in 2013, Recovery Looks Weaker
Housing Market Update: Floodgates Officially Open
Well, another week has gone by, and mortgage rates drifted to a new low, per the latest Freddie Mac data. Yawn. Yes, we know the… Read More »Housing Market Update: Floodgates Officially Open
Obama Hasn’t Refinanced His Mortgage in Seven Years
Despite a push to allow more Americans to refinance their mortgages (Harp 2.0), the Obamas haven’t taken the time to refinance their own, according to… Read More »Obama Hasn’t Refinanced His Mortgage in Seven Years
You May Have Missed the Housing Bottom, But Not the Mortgage Rate Bottom
Over the past several months, it has become somewhat clear (insert gigantic grain of salt here) that home prices may have bottomed last year, at… Read More »You May Have Missed the Housing Bottom, But Not the Mortgage Rate Bottom
Bank of America Ramps Up Principal Reductions
It took a while, but Bank of America announced today that it intends to mail out principal reduction offers to some 200,000 homeowners. The first… Read More »Bank of America Ramps Up Principal Reductions
Wells Fargo Claims More Than a Third of Mortgage Market
Talk about dominating the market. A new report from Inside Mortgage Finance revealed that San Francisco-based bank and mortgage lender Wells Fargo snagged 33.9% of… Read More »Wells Fargo Claims More Than a Third of Mortgage Market
Bank of America’s Mortgage to Lease Program
About a week ago, Bank of America released details of its so-called “Mortgage to Lease” program, which as the name implies, allows homeowners to lease… Read More »Bank of America’s Mortgage to Lease Program
Do I Qualify for the National Mortgage Settlement?
In case you haven’t heard by now, the so-called “National Mortgage Settlement” was finalized today. It’s the largest multi-state settlement since the Tobacco Settlement back… Read More »Do I Qualify for the National Mortgage Settlement?
Bank of America Has a Waiting List to Refinance
If you’re interested in refinancing your mortgage with Bank of America, you may be in for a big surprise. Per Bloomberg, the mega bank has… Read More »Bank of America Has a Waiting List to Refinance