Articles by Subject

Mortgage Crisis a Boon for Community Banks

By:
Catherine Brock - MortgageLoan.com | February 28, 2009

The door has been kicked wide open for community banks to gain a foothold in mortgage lending, as national financial institutions work to recover from rising mortgage loan losses.

Mortgage Refinance Stalls on Higher Costs, Tightening Credit

By:
Bill Rice - MortgageLoan.com | February 27, 2009

Mortgage applications fell over the last week as mortgage rates climb and some borrowers wait for President Obama's mortgage plan to be implemented. However, there may be an even bigger contraction that will prevent any significant recovery--mortgage loan officers are finding it increasingly difficult to help borrowers.

Mortgage Rates Improve

By:
MortgageLoan.com - MortgageLoan.com | February 27, 2009

Mortgage rates are improving this morning. Having spent the week on the rise, mortgage rates are showing signs of improvement.

Mortgage Crisis Culprit: Affordable Homeownership

By:
Tom Kerr - MortgageLoan.com | February 27, 2009

Some analysts have concluded that a push for home ownership may be responsible for causing the subprime mortgage crisis. Studies reveal that while minorities gained in terms of homeownership, they were also sold an inordinate portion of high-risk mortgage loan products.

Government to Stress Test Big Banks

By:
Bill Rice - MortgageLoan.com | February 26, 2009

US banking regulators reveal the details of the much anticipated "stress test" to be applied to large financial institutions. This process is intended to sort banks by their ability, strength to endure even deeper recession.

Falling Home Prices Impacts more than Home Equity

By:
Catherine Brock - MortgageLoan.com | February 26, 2009

The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well.

Obama Returns to Message of Hope:

By:
Bill Rice - MortgageLoan.com | February 25, 2009

Taking a historic stage as the first black president, President Obama took a much more positive message to the American people. Reassuring them that although there are challenges ahead, there is little reason to underestimate the resilience of this great nation.

College Financing 2009: Tips for Getting Aid

By:
Catherine Brock - MortgageLoan.com | February 25, 2009

Stressed out about paying for college this year? Then it's time to brush up on your financial aid know-how.

Mortgage Rates Rise

By:
Bill Rice - MortgageLoan.com | February 25, 2009

Mortgage rates have worsened slightly today on bond selling and small mid-day equities rally.

Mortgage Meltdown and Bankruptcy Laws

By:
Catherine Brock - MortgageLoan.com | February 24, 2009

Lawmakers want to change bankruptcy laws to fix the mortgage market. Could that change backfire and create a new mortgage meltdown?

Mortgage Rates Upward Bias

By:
Bill Rice - MortgageLoan.com | February 24, 2009

MortgageLoan.com's mortgage rate survey is showing the average 30-year fixed-rate up to 5.11%.

Citigroup Moving Towards Nationalization

By:
Bill Rice - MortgageLoan.com | February 24, 2009

Debate builds on the topic of nationalizing US banks as Citigroup seems to be headed for that fate. The Obama administration continues to issue statements that assures the market that they favor a policy of a private banking sector. However, slips of the tongue by Federal Reserve Chairman Ben Bernanke seem to indicate that this option is being considered.

New Rules to Control Inflated Home Appraisals

By:
Tom Kerr - MortgageLoan.com | February 23, 2009

For years, appraisers have complained that they're routinely pressured by mortgage brokers to tweak home values and influence housing prices up or down. But now, fresh regulations are going into effect that are intended to put a stop to this kind of unfair tampering and tinkering.

Governors Debate President's Economic Stimulus Plan

By:
Bill Rice - MortgageLoan.com | February 23, 2009

Gathered for the Winter meeting of the National Governors Association, the leaders of the nations' states are pouring over the details of the $787 billion economic stimulus. States are being devastated by the mortgage foreclosures and home values, whose property taxes are the most significant portion of most states' revenues.

Mortgage Rates Expected to Move Lower

By:
Bill Rice - MortgageLoan.com | February 23, 2009

This week is expected push mortgage rates lower for the third straight week.

Economic Recovery's Future: Obama, Congress, and TARP

By:
Catherine Brock - MortgageLoan.com | February 22, 2009

Capitol Hill's plans for economic recovery are still uncertain, as Obama's economic team lobbies Congress for the remaining TARP funds, and then some.

Credit Markets Finding New Life

By:
Catherine Brock - MortgageLoan.com | February 21, 2009

High-level signs indicate that a slight recovery may be underway in the credit markets. Experts hope that this is the start of a broader mending in business and consumer credit, as well as in mortgage lending.

Mortgage Rates Fall Back Towards 5%, Bank Nationalization Fears Rise

By:
Bill Rice - MortgageLoan.com | February 20, 2009

MortgageLoan.com's mortgage rate watch saw the average 30-year fixed-rate move back down, nearing 5 percent. The average 15-year fixed-rate mortgage dipped below 5 percent to 4.80 percent.

Mortgage Rates Running Down to 5%

By:
Bill Rice - MortgageLoan.com | February 20, 2009

Mortgage rates open Friday on a hard downward turn--possibly dropping 30-year fixed-rate mortgages below 5 percent.

Bankruptcy Becoming a Desirable Solution

By:
Greg Mischio - MortgageLoan.com | February 20, 2009

A perfect indicator of the state of the U.S. economy is the escalating number of bankruptcy filings. Many people overwhelmed with consumer debt and maxed-out credit cards are filing for bankruptcy at alarming rate. Experts believe the trend is only going to get worse.

New Mortgage Plan Expected to Help 9 Million Avoid Foreclosure

By:
Bill Rice - MortgageLoan.com | February 19, 2009

President Obama has promised another $275 billion to help homeowners maintain their mortgages and avoid foreclosure. The new mortgage plan will provide $75 billion for direction foreclosure prevention and double the federal guarantee of Fannie Mae and Freddie Mac--adding another $200 billion--to a total of $400 billion.

Rethinking your Mutual Fund Investment

By:
Catherine Brock - MortgageLoan.com | February 19, 2009

Knowing when to sell a mutual fund position is as important as knowing when to buy one.

Bernanke's Plan: Return to Original TARP Strategy

By:
Tom Kerr - MortgageLoan.com | February 18, 2009

Federal Reserve chairman Ben Bernanke has said that he wants to get back to the basics when it comes to spending the remaining TARP funds. In a speech at the London School of Economics, he also said that to fix the economy, the financial and credit markets must first be repaired.

Increasing Unemployment Creating New Wave of Housing Problems

By:
Bill Rice - MortgageLoan.com | February 18, 2009

Today the Obama administration releases details on how they plan to spend $50 billion, from the remaining TARP funds, to help borrowers in trouble. Most expect another round of loan modification proposals, maybe even some standardization in how to renegotiate these troubled mortgages. Unfortunately, the housing crisis of 2009 may have more to do with jobs than payment.

Mortgage Rates Anticipate Obama Plan

By:
Bill Rice - MortgageLoan.com | February 18, 2009

Mortgage rates continued to improves yesterday on anticipation of a positive reaction to today's Obama mortgage plan.

ARM Mortgagees Faced with Refinancing Conundrum

By:
Tom Kerr - MortgageLoan.com | February 17, 2009

Mortgage rates on adjustable-rate mortgages (ARMs) skyrocketed last year, so many homeowners are eager to do a mortgage refinance into a safer and more affordable fixed-rate loan. However, interest rates have fallen, which may mean that it's still cheaper to stay in an ARM and let it reset to the new lower rate.

New Mortgage Rescue Plan Expected Wednesday from President Obama

By:
Bill Rice - MortgageLoan.com | February 17, 2009

Curiously absent from the enormous economic stimulus plan, expected to be signed by President Obama today, was additional aid for a mortgage and housing market that continues to falter. However, shortly after that legislation cleared the Senate hurdles the Obama administration was talking about another rescue package.

Mortgage Rates Down

By:
Bill Rice - MortgageLoan.com | February 17, 2009

Mortgage rates open the day lower. The market seems to be pricing in a positive reaction to another mortgage aid plan, to be announced by President Obama on Wednesday.

Obama Scraps Car Czar, Will Drive Auto Recovery from the White House

By:
Bill Rice - MortgageLoan.com | February 16, 2009

Expected today, is another Obama administration decision that consolidations more power within the White House. President Barack Obama is expected to announce foregoing the concept of a Car Czar, and appointing a task force to administer a reshaping of the US auto industry.

Breaking New Records: Home Equity Delinquencies

By:
Catherine Brock - MortgageLoan.com | February 16, 2009

A new report shows rising delinquencies on home equity loans and home equity lines of credit, as consumers struggle to manage their debt payments under increasingly tight economic conditions.

Credit Versus Debit Cards: Know the Differences

By:
Greg Mischio - MortgageLoan.com | February 15, 2009

As the economy continues to crumble, consumers are becoming increasingly mindful of their financial options. Understanding tools like credit cards and debit cards is smart money management. It can keep you out of debt and actually save you money.

Citigroup to Support Bankruptcy Loan Modifications

By:
Catherine Brock - MortgageLoan.com | February 14, 2009

Cramdown legislation that would allow the bankruptcy court to make loan modifications on behalf of distressed borrowers is a hot topic on Capitol Hill. The saga took a surprising turn recently, when Citigroup broke away from its peers and said it would back the legislation.

Low Mortgage Rates may not Last Long

By:
Tom Kerr - MortgageLoan.com | February 13, 2009

Mortgage rates have hit a 50-year low, but many economists warn that low interest rate loans may not be here for long. With the Federal Reserve and Treasury spending freely to save the economy, inflation may put an end to inexpensive mortgage rates before the end of the year.

US Government May Subsidize Your Mortgage Payment

By:
Bill Rice - MortgageLoan.com | February 13, 2009

The Obama administration unveiled an unprecedented plan to directly help homeowners make their mortgage payments. In a dramatic departure from current homeowner assistance programs, this plan would help borrowers before they become delinquent.

Mortgage Fraud's New Target: Loan Modifications

By:
Catherine Brock - MortgageLoan.com | February 12, 2009

Foreclosure prevention has become the new calling card for con artists. Reports say perpetrators are collecting large fees upfront in return for loan modifications and mortgage refinances that may never materialize.

Tentative Agreement Reached on the Economic Stimulus Package

By:
Bill Rice - MortgageLoan.com | February 12, 2009

House and Senate leadership announced an agreement late Wednesday afternoon on a trimmed $790 billion economic stimulus package. The two houses of Congress spent nearly 24 hours negotiating a merger of the House-passed legislation and the stalled Senate version.

Mortgage Rates Remain Flat

By:
Bill Rice - MortgageLoan.com | February 12, 2009

The MortgageLoan.com mortgage rate index starts the day with 30-year fixed-rate mortgages at 5.11%.

Falling Home Equity: Should You Walk Away?

By:
Catherine Brock - MortgageLoan.com | February 11, 2009

Voluntary foreclosure may be the next disturbing trend in housing, as homeowners rebel against falling home values and negative home equity.

Mortgage Rates Down 20%

By:
Bill Rice - MortgageLoan.com | February 11, 2009

The 30-year fixed-rate mortgage rate dumped nearly 20%, falling to 5.19% on the MortgageLoan.com mortgage rate survey.

Geithner's Bailout Plan Leaves Markets with Questions and Big Losses

By:
Bill Rice - MortgageLoan.com | February 11, 2009

Contrary to President Obama's promise in Monday's prime time press conference, Treasury Secretary Geithner's new TARP plan was neither "clear" or "specific." Geithner's outline of Obama administration's plan seemed to fall short.

Credit Card Changes Hurting Customers

By:
Greg Mischio - MortgageLoan.com | February 10, 2009

The subprime mortgage crisis was sparked by the uptick in interest rates on adjustable-rate mortgages. Homeowners suddenly found themselves unable to make higher mortgage payments, and foreclosures soon followed. The same ugly scenario could repeat itself with credit cards.

Mortgage Rates Drift Down

By:
Bill Rice - MortgageLoan.com | February 10, 2009

Mortgage rates improved slightly in after-market trading and in early bond market open.

New TARP Unveiled Today, Finding Homes for Bad Mortgages

By:
Bill Rice - MortgageLoan.com | February 10, 2009

President Obama, in his first prime-time press conference, continually deferred questions of mortgage crisis and financial sector recovery to his Treasury Secretary. Timothy Geithner is scheduled to reveal his approach to financial system rescue and clearing out troubled mortgages.

Bank of America Fights Back Government Takeover Rumors

By:
Bill Rice - MortgageLoan.com | February 09, 2009

Bank of America stock plunged below $4 last week on rumors that Bank of America would go back for more TARP funds or even be taken over by the US government. Embattled CEO Kenneth Lewis said rumors of a government takeover was "absurd."

Bailout Offers Auto Loan Relief

By:
Catherine Brock - MortgageLoan.com | February 09, 2009

Auto financing just got easier for consumers with less-than-stellar credit scores.

Mortgage Rates Flat-Await News

By:
Bill Rice - MortgageLoan.com | February 09, 2009

Understandably, mortgage rates open flat on anticipation of numerous announcements that will directly impact the direction of markets.

Credit Score More Important than Ever Before

By:
Catherine Brock - MortgageLoan.com | February 08, 2009

Lenders, particularly credit card issuers, are watching your credit scores more closely than ever.

Lower Mortgage Rates: A Gamble or Worth the Wait?

By:
Tom Kerr - MortgageLoan.com | February 07, 2009

Whether or not to lock in mortgage rates is always a tricky decision, but these days, it should be somewhat easier for consumers. We now have historically low mortgage rates that have never been seen before, and they're a really good bet, even if rates continue to fall farther.

Fannie Mae Loosen Underwriting on Mortgage Refinance | Fannie Mae Refi Plus Program

By:
Bill Rice - MortgageLoan.com | February 06, 2009

Fannie Mae has posted new guidelines for approving homeowners attempting to lower their loan payments with a mortgage refinance.

Mortgage Refinance Boom

By:
Catherine Brock - MortgageLoan.com | February 06, 2009

Mortgage rates are almost as low as they've ever been, and savvy, qualified homeowners are taking advantage of the trend to lower their monthly payments.

Mortgage Rate Climb on Jobs Number

By:
Bill Rice - MortgageLoan.com | February 06, 2009

Mortgage rates make an immediate negative reaction in the bond market. Reinforcing an upward trend in mortgage rates over the last several weeks.

Mortgage Rate Continue to Climb

By:
Bill Rice - MortgageLoan.com | February 05, 2009

Despite discussion of 4 percent mortgage rates ringing in the halls of the Senate, mortgage rates continue to rise.

Hope for Homeowners Mortgage Program Needs Makeover

By:
Bill Rice - MortgageLoan.com | February 05, 2009

Hope for Homeowners, one of the first mortgage rescue programs, has been a dramatic failure. Designed and advocated as a foreclosure prevention program, it has only received 451 applications, closed a mere 25 loans, and none have been insured by the Federal Housing Administration (FHA).

Home Equity Borrowers Getting a Break

By:
Catherine Brock - MortgageLoan.com | February 05, 2009

The prime rate is at its lowest level since 1955, and home equity borrowers are reaping the rewards.

Home Prices: Stabilizing or Rising?

By:
Tom Kerr - MortgageLoan.com | February 04, 2009

The trillion-dollar question on every economist's mind is whether or not housing prices are going up or coming down. Many experts believe that home prices are seeking their bedrock bottom level, but that prices and home equity valuations won't turn around until at least 2010.

Affordability Returns to Housing Markets, Low Mortgage Rates Drive Home Sales

By:
Bill Rice - MortgageLoan.com | February 04, 2009

The National Association of Realtors (NAR) report US homes at the most affordable levels since 1970, when they began tracking affordability. NAR's affordability index jumped 10.9 percent in December--rising on falling home process and low mortgage rates.

Bottomless Pit: Consumers Falling Deeper into Debt

By:
Catherine Brock - MortgageLoan.com | February 03, 2009

Consumer debt may be moderating, but debt delinquencies are ticking up. Those rising delinquencies foreshadow more economic turmoil for U.S. households and domestic credit card issuers.

Republicans Propose Different Stimulus, Targeted at Mortgages and Homeowners

By:
Bill Rice - MortgageLoan.com | February 03, 2009

Senate Republican lead Mitch McConnell (R-KY) introduced a radically new economic stimulus approach. McConnell requested an amendment to the House economic stimulus bill entering the Senate. This radical departure from the Democrat engineered economic stimulus would give government-backed low-interest mortgages to homeowners.

Bad Bank Out, Limiting Executive Pay and Expanding Mortgage Lending In?

By:
Bill Rice - MortgageLoan.com | February 02, 2009

Wall Street reveilled briefly in the prospect of "bad banks," aggregating toxic mortgage loans into a government controlled bank. Likewise, they reacted aggressively on the hint that the plan is shoved to the back burner.

Mortgage Loan Modifications Prove Challenging for Homeowners

By:
Catherine Brock - MortgageLoan.com | February 02, 2009

Mortgage loan modifications haven't yet gained enough traction to slow down the foreclosure crisis-and one consumer group explains why.

Mortgage Rates Climb

By:
Bill Rice - MortgageLoan.com | February 02, 2009

Last week ended with another gentle increase in mortgage rates. Rates have climbed consistently over the last four weeks, but seem to have support in the low 5 percent range.

Freddie Mac Mortgage Portfolio Balloons

By:
Tom Kerr - MortgageLoan.com | February 01, 2009

After devastating setbacks during 2008, when its stock plunged and its mortgage portfolio became increasingly toxic, Freddie Mac is bouncing back. After nearly collapsing and being taken over by the government, the agency has reported a record surge in its mortgage business.