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

HUD Secretary Downplays Housing Crisis, Supports Subprime

September 24, 2007 No Comments »

At the 1st Asia-Pacific Housing Forum in Singapore, Department of Housing and Urban Development Assistant Secretary Darlene Williams played down housing fears and expressed her support for the recent Fed action and subprime lending. Williams noted that the recent half ... Read More »

ABN Amro Mortgage Data Leaked on Popular File Sharing Network

September 23, 2007 No Comments »

A data leak by a former ABN Amro Mortgage analyst put the sensitive information of more than 5,000 mortgage customers at risk of being shared, and ultimately compromised by millions on a popular file sharing application. The former analyst had ... Read More »

Confusion Over Nevada Mortgage Bill

September 22, 2007 No Comments »

A bill intended to protect Nevada homeowners by labeling mortgage lending fraud a crime has led to a great deal of confusion and frustration for lenders and mortgage brokers statewide and beyond. Assemblyman Marcus Conklin, D-Las Vegas, prime sponsor and ... Read More »

Bernanke Addresses Mortgage Concerns

September 20, 2007 No Comments »

In testimony to the House Financial Services Committee, Ben Bernanke outlined the history of the subprime mortgage mess, the recent rise in defaults and foreclosure proceedings, and a plan of attack to quell further problems. Bernanke noted that the advent ... Read More »

Wells Fargo Chairman Bullish on Mortgage

September 19, 2007 No Comments »

Wells Fargo Chairman Richard Kovacevich echoed recent bullish comments from Countrywide CEO Angelo Mozilo today, revealing that he too was optimistic about the future of the mortgage industry. At a Bank of America conference in San Francisco, he commented on ... Read More »

Fannie and Freddie Caps Eased

September 19, 2007 No Comments »

The Office of Federal Housing Enterprise Oversight announced today that it will ease the current caps on Fannie Mae and Freddie Mac. The government-sponsored entities, along with certain Democratic senators, had been lobbying in recent weeks to boost the caps ... Read More »

FHA Reform Bill Passed

September 18, 2007 No Comments »

A new bill that will direct up to $300 million a year to an affordable housing fund effortlessly passed in the House today by a vote of 348 to 72. The bill is intended to tackle the impending mortgage crisis ... Read More »

Wells Fargo to Cut No Ratio and No Doc Programs

September 18, 2007 No Comments »

Later this week, Wells Fargo Home Mortgage will implement further loan program cuts to mitigate risk in the deteriorating home lending market. The massive mortgage lender plans to dump both “No Ratio” and “No Doc” loans from its shrinking portfolio, ... Read More »

Fed Cuts Interest Rates by Half Percent

September 18, 2007 No Comments »

The Fed has just lowered both the Federal Funds Rate and Discount Rate by half a percentage point. The interest rate cuts today mark the first time the Federal Funds Rate has changed since June 2006, and the first time ... Read More »

Impac Stops Alt-A Lending, Cuts Jobs

September 18, 2007 No Comments »

Impac announced this morning that it has cut nearly all lending, including Alt-A, while firing 144 workers amid continued market tumult. Along with the halt in Alt-A lending, its main line of business, the lender also announced it would quit ... Read More »