Netbank Shut Down by FDIC
Online bank NetBank Inc. was shut down today by the FDIC, who cited an excessive level of mortgage defaults, marking the first U.S. savings and… Read More »Netbank Shut Down by FDIC
Mortgage Tips
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.
SCME Ceases Wholesale Operations
According to a company e-mail, SCME Mortgage Bankers Inc. will cease wholesale operations effective the end of business today. “We would like you to know… Read More »SCME Ceases Wholesale Operations
Fremont Investor Expresses Doubt over Acquisition
Fremont General Corp. took a big hit today after the investor group which had agreed to acquire the ailing California-based savings and loan said it… Read More »Fremont Investor Expresses Doubt over Acquisition
Delinquency Rate Up on Home Equity Lines
The American Bankers Association released its quarterly Consumer Credit Delinquency Bulletin this morning, revealing that many consumer delinquency rates were down aside from home equity… Read More »Delinquency Rate Up on Home Equity Lines
Countrywide Says Fed Rate Cut Spurred Inquiries
Countrywide Financial Corp. said Tuesday that last week’s half point Fed rate cut has led to a 40 percent increase in the number of customers… Read More »Countrywide Says Fed Rate Cut Spurred Inquiries
Freddie Mac’s Portfolio Nearly Capped
Freddie Mac announced Tuesday that its mortgage holdings soared at the fastest rate since December 2005. Freddie Mac’s mortgage retained portfolio grew by an annualized… Read More »Freddie Mac’s Portfolio Nearly Capped
No Closing Cost Radio Ad Fanatic Fined
The mortgage broker who created the notorious radio ads that refer to the no closing cost loan as “the biggest no-brainer in the history of… Read More »No Closing Cost Radio Ad Fanatic Fined
Morgan Stanley Accused of Discriminatory Mortgage Lending
The National Community Reinvestment Coalition said Monday that it filed a civil rights complaint against Morgan Stanley and some of its subsidiaries, including Saxon Mortgage… Read More »Morgan Stanley Accused of Discriminatory Mortgage Lending
HUD Secretary Downplays Housing Crisis, Supports Subprime
At the 1st Asia-Pacific Housing Forum in Singapore, Department of Housing and Urban Development Assistant Secretary Darlene Williams played down housing fears and expressed her… Read More »HUD Secretary Downplays Housing Crisis, Supports Subprime
ABN Amro Mortgage Data Leaked on Popular File Sharing Network
A data leak by a former ABN Amro Mortgage analyst put the sensitive information of more than 5,000 mortgage customers at risk of being shared,… Read More »ABN Amro Mortgage Data Leaked on Popular File Sharing Network