Chase Offering 1% Mortgage Cash Back
Chase is offering to give customers 1% of their scheduled monthly principal and interest mortgage payments back if they meet certain requirements via its new… Read More »Chase Offering 1% Mortgage Cash Back
Report: Originate to Distribute Mortgages Default More
Mortgages sold on the secondary market quickly after being originated were underwritten more poorly than loans kept on banks’ books, according to a report from… Read More »Report: Originate to Distribute Mortgages Default More
Home Price Depreciation Leading Cause of Mortgage Default
A report released by the Boston Fed last week found that home price depreciation is a leading cause of mortgage default, challenging common arguments that… Read More »Home Price Depreciation Leading Cause of Mortgage Default
The Worst Loan Modification Companies
It’s a relatively new business, but like any other, it’s been infiltrated by fraud and scams in no time at all. That’s a good thing… Read More »The Worst Loan Modification Companies
California Realtors Offer to Make Mortgage Payments
The California Association of Realtors has become the latest group to offer to make mortgage payments if you lose your job after purchasing a new… Read More »California Realtors Offer to Make Mortgage Payments
Indymac Federal Becomes OneWest Bank Group
The FDIC completed its sale of Indymac Federal Bank yesterday to OneWest Bank Group LLC, a newly formed federal savings bank headquartered in Pasadena, CA.… Read More »Indymac Federal Becomes OneWest Bank Group
HSBC to Halt Lending, Shutter HFC and Beneficial
HSBC announced today it will close both its HFC and Beneficial units, resulting in thousands of layoffs. The consumer lending companies offer a number of… Read More »HSBC to Halt Lending, Shutter HFC and Beneficial
Countrywide Name to be Retired in April
Sad news folks. On April 27, Bank of America will re-brand Countrywide Financial to “Bank of America Home Loans,” according to a report today in… Read More »Countrywide Name to be Retired in April
Equifirst to Halt Lending Operations
Equifirst announced today that effective immediately, it will be ceasing lending operations. Going forward, the Charlotte, North Carolina-based mortgage lender will no longer accept applications… Read More »Equifirst to Halt Lending Operations
Former Fannie Mae Employee Attempted to Destroy All Data
A former Fannie Mae contracted employee was indicted for computer intrusion this week for allegedly planting a malicious script on the company’s servers in an… Read More »Former Fannie Mae Employee Attempted to Destroy All Data