The Truth About Mortgage Blog

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Welcome to a warm, friendly, and most importantly unbiased place to learn about mortgages, ideally before you make contact with a real estate agent or lender. The more you know, the better you’ll feel, and hopefully all that hard work will help you snag a lower mortgage rate too! View all mortgage help topics to get started or check out the latest mortgage tips and news below.

Latest Posts

Countrywide Reports Fourth Quarter Loss

January 29, 2008 No Comments »

The nation’s top mortgage lender reported a fourth-quarter loss of $422 million, or 79 cents per share, compared with income of $622 million, or $1.01 per share, the same time last year. The results greatly exceeded expectations of analysts polled ... Read More »

Mortgage Bankers Association Calls CRL Study Misleading

January 28, 2008 No Comments »

The Mortgage Bankers Association issued a statement this afternoon in response to a report released by the Center for Responsible Lending this morning, calling it misleading and self-serving. In the report, the CRL claimed mortgage lenders weren’t doing enough to ... Read More »

Study Shows Mortgage Freeze Plan Limited

January 28, 2008 No Comments »

The U.S. Treasury’s proposed interest rate freeze plan will likely only help three percent of subprime borrowers currently stuck in adjustable-rate mortgages, the Center for Responsible Lending said today. Based on the nonprofit organization’s analysis of recent industry data, loan ... Read More »

Risk of Foreclosure Rising as Home Prices Continue to Fall

January 28, 2008 No Comments »

A report released today by First American CoreLogic found that the risk of foreclosure jumped 22 percent from last January, and 9 percent from just three months ago. The company rates foreclosure risk in 381 metropolitan areas, measuring economic factors ... Read More »

Mortgage Lenders Report Refinance Frenzy

January 25, 2008 No Comments »

Reuters reported today that borrowers are chomping at the bit to refinance their existing home loans in a bid to take advantage of the super-low mortgage rates currently on offer. Per the article, the amount of mortgages eligible for refinancing ... Read More »

Freddie Mac Portfolio Expands as Delinquencies Climb

January 24, 2008 No Comments »

Freddie Mac, the smaller of the two government-sponsored entities, said the principal balance of its retained portfolio increased to $718.1 billion at the end of 2007, up from $701 billion in November, to the highest level since August. The company’s ... Read More »

Conforming Loan Limit Increase to be Part of Stimulus Package

January 24, 2008 No Comments »

The economic stimulus package will include an overhaul of the Federal Housing Administration’s mortgage insurance program and an increase in the size of loans that mortgage financiers Fannie Mae and Freddie Mac can purchase, House Financial Services Committee Chairman Barney ... Read More »

Fitch Cuts IndyMac Rating to Junk Status, Moodys Stops Coverage

January 24, 2008 No Comments »

Struggling mortgage lender IndyMac Bancorp saw its credit rating cut to “junk” by Fitch Ratings just a day after Moody’s Investor Services said it was dropping coverage entirely. Fitch cut its long-term issuer default rating on IndyMac two notches to ... Read More »

Ohio AG Sues Freddie Mac for Participation in Subprime Crisis

January 23, 2008 No Comments »

Attorney General Marc Dann filed a lawsuit on behalf of the Ohio Public Employees Retirement System (OPERS) and common shareholders against mortgage financier Freddie Mac for the company’s investment in securities backed by subprime mortgage loans. The suit, which was ... Read More »

Dodd Suggests Creation of Government Entity to Purchase Distressed Mortgages

January 23, 2008 No Comments »

A letter sent from U.S. Senate Banking Committee Chairman Christopher Dodd to Senate Majority Leader Harry Reid revealed details of a proposal to set up a government-sponsored entity to buy troubled mortgages. “The new mortgages would be new 30-year fixed-rate ... Read More »