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.
National City Corp. said today that it is laying off 1,300 employees in an effort to reduce the size of its decaying mortgage unit amid… Read More »National City Laying Off 1,300, Suspending Broker Issued Loans
I’ve heard from multiple sources that Countrywide laid off a very large number of employees today and has closed multiple Full Spectrum Lending branches, while… Read More »Major Layoffs Reported at Countrywide
In a CNBC interview aired just minutes ago, Federal Home Loan Bank of New York President Alfred Dellibovi spoke about the current lending environment. He… Read More »Federal Home Loan President Slams Mortgage Brokers
At a hearing today, FDIC Chairwoman Sheila Bair told the House Financial Services Committee that 1.5 million homeowners would be unable to make their mortgage… Read More »FDIC See 1.5 Million Unable to Make Mortgage Payments
Every once in a while I’ll see a mortgage program advertised on TV and examine the product to see if it makes any sense for… Read More »Ditech Real Life Plan
I’ve just been informed about an e-mail sent by Countrywide to brokers today regarding the current state of affairs in the mortgage industry. The e-mail… Read More »Countrywide Hints at Demise of Wholesale
Ever since the now infamous Merrill analyst Countrywide downgrade and the accompanying bankruptcy comment, the news media and bloggers throughout the nation have been going… Read More »Countrywide News Dissected
***Click here for today’s news: 1/8/08 Countrywide shares plunge on bankruptcy rumors. The inevitable happened today. Shares of Countrywide, the largest mortgage lender in the… Read More »Countrywide Bankruptcy Fears
As the mortgage crisis widens, particularly with the latest news regarding limited liquidity, it makes sense to wonder if correspondent and wholesale lending will be… Read More »Mortgage Brokers May Need to Dust Off Resumes
Two of the largest U.S. mortgage lenders came forward today, saying difficult market conditions would likely hurt operations in the near term. Both Countrywide and… Read More »Countrywide and WaMu Spread Liquidity Fears
