Simple guides and tips to help you better understand and prepare for the home loan process. Learn how to get a mortgage, how to refinance, and more about the many different loans programs available.
Merrill Lynch& Co. Inc. announced third-quarter earnings Wednesday morning, revealing a huge mortgage-related hit and its first quarterly loss since 2001. For the quarter, Merrill… Read More »Merrill Lynch Takes Huge Mortgage Hit
Diablo Funding Group, one of the largest independent mortgage brokerages in Northern California, is shutting down operations this week amid the ongoing mortgage crisis. CEO… Read More »Diablo Funding Group Shutting Down
Early Tuesday morning Countrywide Financial Corp., the largest U.S. mortgage lender, offered to refinance or modify up to $16 billion of adjustable-rate mortgages through the… Read More »Countrywide Launches Home Preservation Program
According to JPMorgan Chase & Co., the monthly issuance of subprime mortgage and home equity loan-backed securities stood at $2.65 billion through October 19th, marking… Read More »Mortgage-Backed Securities Volume Plummets
The House introduced legislation this morning that would require all loan originators to be licensed, while protecting borrowers from forms of predatory lending and penalizing… Read More »House Introduces Mortgage Reform Bill
Before the bell Monday morning, securities firm Lehman Brothers downgraded several mortgage lenders, including Countrywide, IndyMac, and Washington Mutual. The firm cited the ongoing problems… Read More »Lehman Downgrades Countrywide, IndyMac, and WaMu
The Office of Federal Housing Enterprise Oversight has released the proposed 2008 conforming loan limit guidance. If the index used to calculate the maximum loan… Read More »2008 Conforming Loan Limit Guidance
Bank of America shocked investors today when it announced a 32 percent decline in third-quarter profits from the same period a year ago, pointing to… Read More »Bank of America Profit Down on Loan Writedowns, Trading Losses
As jumbo loan financing continues to be increasingly difficult, many potential homeowners in expensive regions of the country are finding it next to impossible to… Read More »Lack of Jumbo Financing Hurts Bay Area Home Sales
Seattle-based Washington Mutual reported third quarter profit of $210 million, or 23 cents a share, compared with profit of $748 million, or 77 cents a… Read More »WaMu Profit Hit by Mortgage Mess
