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
Simple guides and practical mortgage tips to help you better understand and prepare for the home loan process. Learn how to get a mortgage, refinance an existing loan, and discover the many different loans programs available today.
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
Sante Fe-based Thornburg Mortgage reported a net loss of $1.084 billion, or $8.83 per share in the third quarter, compared to net income of $75.3… Read More »Thornburg Mortgage Reports Billion Dollar Loss
GMAC’s finance arm Residential Capital LLC is expected to announce a 25 percent reduction in its workforce tomorrow, according to a report by The Wall… Read More »GMAC Expected to Cut 25 Percent of Mortgage Workforce
Countrywide said Tuesday that pretax restructuring costs associated with a slowdown in business and the resulting massive layoffs that occurred could be as high as… Read More »Countrywide Restructuring Charge Up to $150 Million
Wells Fargo, the second-largest U.S. mortgage lender, took a $490 million charge in the third quarter related to the write down of its mortgage assets,… Read More »Wells Fargo Takes $490 Million Mortgage Charge
CreditXpert Inc. has released a new credit scoring system that has the ability to filter out authorized user accounts, allowing banks and mortgage lenders to… Read More »New Credit Scoring Model Filters Authorized Users Accounts