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

Option One Mortgage to Shut Down

December 4, 2007 No Comments »

An agreement by H&R Block to sell its ailing mortgage unit Option One to Cerberus Capital Management has been severed, according to both parties involved. Both companies called the termination “fully amicable”, though Option One will wind down operations as ... Read More »

OTS Second Annual Housing Forum News and Notes

December 3, 2007 No Comments »

The Office of Thrift Supervision held its second annual National Housing Forum in Washington D.C. today, inviting a number of housing market power players to share insights and opinions, including Countrywide CEO Angelo Mozilo, HUD Secretary Alphonso Jackson, Treasury Secretary ... Read More »

Will Interest Rate Freeze Save Mortgage?

November 30, 2007 No Comments »

The Wall Street Journal reported today that the Bush administration and major banks and mortgage lenders are close to a working out a plan that would freeze mortgage rates on select subprime loans. The plan is being negotiated between the ... Read More »

Home Prices Experience First Quarterly Decline in Nearly 13 Years

November 29, 2007 No Comments »

For the first time in almost 13 years, home prices in the United States experienced a quarterly decline, the Office of Federal Housing Enterprise Oversight reported Thursday. The OFHEO House Price Index, which measures data from sales and refinance transactions, ... Read More »

Foreclosure Filings Nearly Double From Year Ago

November 29, 2007 No Comments »

A total of 224,451 foreclosure filings were reported in October, up 94 percent from the 115,568 filings reported in the same period a year ago, RealtyTrac Inc. said Thursday. The number of filings were up just two percent from September, ... Read More »

Wells Fargo to Take $1.4 Billion Mortgage Hit

November 28, 2007 No Comments »

Wells Fargo, one of the few major banks that seemed to avoid much of the mortgage mess, revealed a $1.4 billion mortgage-related charge that will be recognized in the fourth quarter. The losses are tied to home equity loans the ... Read More »

Countrywide Reassures Again, Says Job Cuts a Bit Higher

November 27, 2007 No Comments »

Countrywide Financial, the top U.S. mortgage lender, once again tried to reassure investors that the company was financially sound Tuesday. “We said it back in August, we said it in September, we said it last week, we’ll say it until ... Read More »

Mayors Express Bleak Outlook for Ongoing Mortgage Crisis

November 27, 2007 No Comments »

Property values are expected to fall 7 percent next year as 1.4 million U.S. homes fall into foreclosure, according to a report released today by the U.S. Conference of Mayors. The report, prepared by economic consulting firm Global Insight, forecasts ... Read More »

2008 Conforming Loan Limit Unchanged

November 27, 2007 No Comments »

The maximum value of a single-family mortgage eligible to be purchased by Fannie Mae or Freddie Mac will remain at $417,000 for the third straight year, according to the Office of Federal Housing Enterprise Oversight, known as OFHEO. “While the ... Read More »

Paul Financial Suspends Loan Origination

November 26, 2007 1 Comment »

Wholesale mortgage lender Paul Financial, LLC has halted new loan submissions effective today, according to an announcement posted on their website. The announcement states: “After much deliberation, Paul Financial has decided to temporarily suspend the acceptance of new loan submissions ... Read More »