According to a survey conducted by Washington-based Campbell Communications, roughly 33% of home purchase closings originated by mortgage brokers in August were canceled. The survey… Read More »Survey Reveals Major Problems in Wholesale Mortgage Industry
Mortgage offer aggregator LendingTree sent out an e-mail to affiliates today asking them to remove all advertising containing verbiage relating to option-arms, MTA loans and… Read More »LendingTree Cuts Option Arm and Bad Credit Ads
Dancing aliens rejoice. The ads are back. Apparently dreams do come true sometimes. A few weeks ago, a blogger from the New York Times had… Read More »Lowermybills Dancing Alien Ads Are Back!
National City Corp. said today that it is laying off 1,300 employees in an effort to reduce the size of its decaying mortgage unit amid… Read More »National City Laying Off 1,300, Suspending Broker Issued Loans
In a CNBC interview aired just minutes ago, Federal Home Loan Bank of New York President Alfred Dellibovi spoke about the current lending environment. He… Read More »Federal Home Loan President Slams Mortgage Brokers