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

September Foreclosure Filings Nearly Double From Year Ago

October 11, 2007 No Comments »

According to RealtyTrac, there were a total of 223,538 foreclosure filings reported in September, up from 112,210 in September of 2006. Filings were down 8 percent from August’s total of 243,947, though September’s numbers were still the second highest since ... Read More »

Countrywide September Loan Funding Down 44 Percent

October 11, 2007 No Comments »

It would appear the situation at Countrywide Financial is deteriorating rapidly despite recent media reports speculating that the worst of the mortgage crisis was behind us. This morning, Countrywide reported that loan originations fell 44 percent in September, while delinquent ... Read More »

Former Training Manager Stages Countrywide Protest

October 10, 2007 No Comments »

A former Senior training manager who conducted many of the AE trainings at Countrywide staged a protest at a Full Spectrum Lending/Consumer Markets Division branch in Rosemead, California after being refused entry to meet a co-worker. According to sources, James ... Read More »

Experian Touts VantageScore to Improve Risk Assessment

October 10, 2007 No Comments »

Experian, one of the three major credit reporting bureaus, claims its new VantageScore technology can segment subprime borrowers, leading to a more accurate risk assessment for banks and mortgage lenders. “VantageScore’s innovative scoring technology helps lenders more accurately assess risk, ... Read More »

Mortgage Profits Declined Sharply in 2006

October 10, 2007 No Comments »

According to an annual cost study conducted by the Mortgage Bankers Association, mortgage production profits fell from $258 a loan in 2005 to a loss of $50 per loan in 2006. “Production profits began to slip in 2004, and we ... Read More »

Hope Now Initiative Launched to Aid Homeowners

October 10, 2007 No Comments »

The Bush Administration launched a new mortgage coalition today to help educate homeowners and stem the rise in foreclosures. The new initiative, referred to as “Hope Now”, brings together mortgage lenders, service companies, counseling agencies, investors, and large trade organizations. ... Read More »

Demonstrations Held Outside Countrywide Branches

October 10, 2007 No Comments »

The community activist group ACORN, or Association of Community Organizations for Reform Now, demonstrated outside several Countrywide branches on Tuesday, claiming the beleaguered lender was doing little to help homeowners avoid foreclosure. At a branch in San Bruno, CA, protestors ... Read More »

S&P Chief Says Mortgage Crisis to Worsen

October 9, 2007 No Comments »

At a conference Tuesday in Bombay, India, Standard and Poor’s chief economist David Wyss said the mortgage crisis in the United States would likely deteriorate because the level of fraudulent lending to unfit borrowers was markedly higher than originally estimated. ... Read More »

Thornburg Ups Mortgage Loss Estimates

October 9, 2007 No Comments »

Thornburg Mortgage Inc. said in a statement this morning that it lost $1.1 billion selling bonds backed by adjustable-rate mortgages. The Santa Fe, New Mexico based mortgage lender had previously estimated the loss at a mere $863 million, forcing shares ... Read More »

Market Street Mortgage Layoffs

October 8, 2007 No Comments »

Market Street Mortgage, the retail mortgage division of now defunct NetBank will cut 182 jobs, according to a Worker Adjustment and Retraining Notification filed with Florida’s Agency for Workforce Innovation. The layoffs will occur at the lender’s Clearwater, Florida facility, ... Read More »