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.
In testimony to the House Financial Services Committee, Ben Bernanke outlined the history of the subprime mortgage mess, the recent rise in defaults and foreclosure… Read More »Bernanke Addresses Mortgage Concerns
Wells Fargo Chairman Richard Kovacevich echoed recent bullish comments from Countrywide CEO Angelo Mozilo today, revealing that he too was optimistic about the future of… Read More »Wells Fargo Chairman Bullish on Mortgage
The Office of Federal Housing Enterprise Oversight announced today that it will ease the current caps on Fannie Mae and Freddie Mac. The government-sponsored entities,… Read More »Fannie and Freddie Caps Eased
A new bill that will direct up to $300 million a year to an affordable housing fund effortlessly passed in the House today by a… Read More »FHA Reform Bill Passed
Later this week, Wells Fargo Home Mortgage will implement further loan program cuts to mitigate risk in the deteriorating home lending market. The massive mortgage… Read More »Wells Fargo to Cut No Ratio and No Doc Programs
The Fed has just lowered both the Federal Funds Rate and Discount Rate by half a percentage point. The interest rate cuts today mark the… Read More »Fed Cuts Interest Rates by Half Percent
Impac announced this morning that it has cut nearly all lending, including Alt-A, while firing 144 workers amid continued market tumult. Along with the halt… Read More »Impac Stops Alt-A Lending, Cuts Jobs
In a press release sent out after market close, E-Trade Financial Corp. announced it would revise 2007 guidance and exit its wholesale mortgage lending business.… Read More »E-trade Exits Wholesale Mortgage Business
Merrill Lynch said it will cut jobs at its First Franklin Financial Corp. unit, the subprime lender it acquired late last year for $1.3 billion… Read More »First Franklin Financial Layoffs
After Northern Rock’s share price plummeted and depositors queued up to snatch their at-risk funds, larger banks began weighing the risk to scoop up the… Read More »Northern Rock Ripe for Takeover Bid
