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
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 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
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
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