Mortgage News

The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.

Greenpoint Mortgage Closed

Greenpoint Mortgage Closed
August 20, 2007 30 Comments »

Greenpoint Mortgage was shut down today by parent Capital One Financial Corp., who said weak demand for residential home loans forced the company to shut the ailing mortgage lender. Capital One announced that it would cease loan origination operations at ... Read More »

Countrywide Hiring As New Layoffs Reported

August 20, 2007 No Comments »

A Wall St. Journal article regarding the layoffs of Countrywide employees was released early this morning by a journalist who seemed to be privy to the situation over at Countrywide. Although the article was brief, and contained more fluff about ... Read More »

Capital One VP Sparks Greenpoint Mortgage Fears

August 19, 2007 No Comments »

At the KBW Inc. Large Cap Bank Conference in Kohler, Wisconsin last week Michael Rowen, VP of investor relations at Capital One Financial spoke to Wall Street analysts about a variety of banking topics, including the ongoing mortgage crisis and ... Read More »

First Magnus Financial Closed

August 16, 2007 No Comments »

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 company announced that it will no longer originate, fund, or continue processing loans already in ... Read More »

Thornburg Stock Tumbles, Bankruptcy Ruled Out

August 14, 2007 No Comments »

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 ease investor worries live on CNBC. While there’s not much you can really say to ... Read More »

Fannie and Freddie Asset Limits Unchanged

August 13, 2007 No Comments »

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 Office of Federal Housing Enterprise Oversight late last week. Democrats had urged the agency to ... 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 »

Richard Branson Enters Mortgage Biz with New Acquisition

June 2, 2007 No Comments »

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 bit funny, given the current state of the housing market, his spin on mortgages is ... Read More »

Are RealtyTrac’s Foreclosure Listings Misleading?

Are RealtyTrac’s Foreclosure Listings Misleading?
May 28, 2007 No Comments »

As the foreclosure market gains more steam and becomes the focus of the stagnating housing market, companies like RealtyTrac are beginning to grab a share of the limelight, and the profits. RealtyTrac, an Irvine, CA based company, specializes in foreclosure ... Read More »