A report released by Standard & Poor’s Ratings Services said the issuance of Alt-A mortgages plummeted in the third quarter, and is projected to fall… Read More »Issuance of Alt-A Mortgages Down Sharply in Third Quarter
An Internet-based system intended to better oversee mortgage brokers and their employees whose regulations vary significantly by state was launched today. The so-called Nationwide Mortgage… Read More »Mortgage Broker Tracker Launched in Seven States
PHH Corp. said Tuesday that its proposed $1.8 billion merger with General Electric and Blackstone was scrapped after the private equity firm failed to obtain… Read More »PHH Sale to GE and Blackstone Terminated
A survey released today by Online Resources Corp. found that the mortgage crisis is spilling over into the broader economy, impacting companies across a variety… Read More »Survey Finds Nearly All Would Pay Mortgage First
The California Association of Mortgage Brokers (CAMB) released its annual mortgage survey for 2008 this week, claiming that the ongoing housing crisis could lead to… Read More »Nearly Half of California Brokers See Recession in 2008
Bear Stearns reported a larger-than-expected writedown in its mortgage portfolio, leading its first quarterly loss in its 84-year history. The nation’s fifth-largest investment bank, who… Read More »Bear Stearns Reports First Quarterly Loss on Mortgage Losses
Mortgage research firm RealtyTrac said today that the number of foreclosure filings declined last month because of an expected respite in interest rate resets, but… Read More »Foreclosures Dip in November, Up 68 Percent from Year Ago
The United States Congress passed new legislation extending a tax provision that allows homeowners to deduct the cost of mortgage insurance premiums from their federal… Read More »Congress Extends Mortgage Insurance Tax Deduction Through 2010
Below are the highlights of the new rules put forth by the Fed in their effort to clean up the mortgage industry. First off, the… Read More »Highlights of the Fed’s Proposed Mortgage Rules
National City Corp. said today in a Securities and Exchange Commission filing that it expects to set aside around $700 million for loan losses in… Read More »National City to Set Aside $700 Million for Loan Losses in Fourth Quarter
