Articles by Subject

Senate Rejects 'Cramdown' Relief on Mortgages

By:
Kirk Haverkamp - MortgageLoan.com | April 30, 2009

The U.S. Senate has rejected legislation that would have allowed bankruptcy judges to reduce the principal owned on a homeowner's mortgage, a measure known as "cramdown."

New Unemployment Claims Decline

By:
Kara Johnson - MortgageLoan.com | April 30, 2009

New unemployment filings decreased last week, but the total number of persons collecting unemployment benefits hit an all-time high, according to figures released today by the Commerce Department.

Home Remodeling Booming Despite Troubled Economy

By:
Greg Mischio - MortgageLoan.com | April 30, 2009

It appears that reports of the housing industry's death have been greatly exaggerated. Some sectors of the industry, such as home sales, continue to slump, but the home remodeling business is booming.

Mortgage Rate Headed Up?

By:
MortgageLoan.com - MortgageLoan.com | April 30, 2009

Mortgage rates could see some upward pressure today.

Mortgage Rates Low, Fed Stays Course

By:
MortgageLoan.com - MortgageLoan.com | April 29, 2009

Mortgage rates remain at record lows as the Federal Reserve stays the course.

Mortgage Applications Drop

By:
Kara Johnson - MortgageLoan.com | April 29, 2009

Mortgage applications dropped sharply in the week ending April 24, ending what had been a series of steady increases over the past two months.

Can You Get a Mortgage?

By:
Catherine Brock - MortgageLoan.com | April 29, 2009

Lenders will eyeball more than just your credit score to make a decision on your mortgage application.

Bond Yields Up, Will Mortgage Rates Follow?

By:
Peter King - MortgageLoan.com | April 29, 2009

Mortgage rates may soon be nudging back up from the ultra-low levels they have been occupying for the past six weeks, after yields on 10-year bonds rose following today's announcements by the Federal Reserve.

Mortgage Rates Climb on Consumer Confidence

By:
MortgageLoan.com - MortgageLoan.com | April 28, 2009

Mortgage rates started the day heading lower on continued reporting of Swine Flu outbreaks. However, these trend lines quickly reversed.

Tougher Standards for Mortgage Refinance

By:
Tom Kerr - MortgageLoan.com | April 28, 2009

Doing a mortgage refinance these days is tough, because lenders-including those doing FHA mortgages--want to see a higher credit score and more proof of assets and income. But they also don't want to refinance until home equity loans or second mortgages have been repaid.

New Mortgage Assistance Addressed Second Liens

By:
Kirk Haverkamp - MortgageLoan.com | April 28, 2009

A new initiative to help resolve issues with second liens that have presented problems for many homeowners seeking assistance with problem mortgages was announced today the Obama Administration.

Be Prepared for a Reverse Mortgage

By:
Greg Mischio - MortgageLoan.com | April 27, 2009

Retirement funds are dwindling. Health care costs are rising. Pension plans are being altered. With all of the economic woes befalling retirees, it's no wonder that the reverse mortgage has become an increasingly popular tool. Its guarantee of cash flow, with no payments required, makes it a very popular mortgage refinance option.

Home Ownership Continues Decline

By:
Peter King - MortgageLoan.com | April 27, 2009

U.S. home ownership dipped to its lowest level in nearly nine years in the first three months of the year while housing vacancies reached an all-time high, according to figures released Monday by the Commerce Department.

Bank of America Retires Countrywide Brand

By:
Peter King - MortgageLoan.com | April 27, 2009

The Countrywide brand, until recently the biggest name in mortgages, is being retired as Bank of America consolidates its home lending operations under a single roof.

Mortgage Rates Leap Out Lower

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

Mortgage rates leaps out of the gates trending lower.

Jumbo Mortgages making a Comeback

By:
Tom Kerr - MortgageLoan.com | April 26, 2009

Banks fled from jumbo mortgages last year as the mortgage crisis began to take its toll on their balance sheets and defaults on jumbos accelerated. Now, however, they're back in the jumbo market and lending to customers in need of these extra large home loans at reasonable rates.

FHA Tightens Standards for Cash-out Mortgage Refinance

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

The FHA was supposed to lead the U.S. mortgage industry out of crisis, but rising defaults are prompting the agency to tighten up its lending standards.

New Government Website Helps Troubled Homeowners

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

The Obama Administration is supporting its Making Home Affordable initiative with a website that offers guidance and advice to troubled homeowners. 


30-year Rates Beat ARMs for First-Time Ever

By:
Kirk Haverkamp - MortgageLoan.com | April 24, 2009

The dizzying descent down the rabbit hole of the current financial markets just got curiouser and curiouser. Long term, 30-year fixed mortgage rates dipped below the rate of short-term adjustable rate mortgages in the weekly Freddie Mac survey for the first time ever. That means, for the moment at least, a long-term loan may be cheaper in the short run than its adjustable rate cousin - which goes against the usual reason for getting an adjustable rate in the first place.

Mortgage Rates Trending Higher

By:
MortgageLoan.com - MortgageLoan.com | April 24, 2009

Mortgages rates started the day higher, but are beginning to recover.

Sales of New Homes Unchanged

By:
Peter King - MortgageLoan.com | April 24, 2009

Sales of new, single-family homes were essentially unchanged in March, while the supply of unsold new homes shrank by 5 percent, according to figures released today by the Commerce Department.

Mortgage Rates Flat

By:
MortgageLoan.com - MortgageLoan.com | April 23, 2009

Mortgage rates end the day flat. Mortgage bonds traded most of the day flat in anticipation of addition Federal Reserve MBS and treasury buying.

Reverse Mortgages: Life Rafts or Life Anchors?

By:
Catherine Brock - MortgageLoan.com | April 23, 2009

Reverse mortgages are growing in popularity, but retirees need to know that there are pitfalls associated with using one as a financial planning strategy.

Housing Sales Down, But Prices Up

By:
Kara Johnson - MortgageLoan.com | April 23, 2009

Sales of existing homes declined slightly in March but prices rose, suggesting that the housing market is still struggling to find its footing after months of decline.

Obama Calls for Stricter Rules on Credit Cards

By:
Kirk Haverkamp - MortgageLoan.com | April 23, 2009

With Congress already moving to enact tighter restrictions on credit card companies, President Obama met with major lenders today to outline consumer protections that he wants to see.

Bumpy Road for Mortgage Rates

By:
MortgageLoan.com - MortgageLoan.com | April 22, 2009

Mortgage bond rates opened the morning in a positive direction (mortgage rates lower).

Can't Get a Mortgage? Think Small (Banks)

By:
Peter King - MortgageLoan.com | April 22, 2009

In the middle of a credit crunch, there's a mortgage boom going on. Overall lending is down, as banks have tightened their purse strings. But demand for mortgages is as strong as ever, driven by some of the lowest interest rates on record and housing prices driven into the ground by the foreclosure crises. But many potential borrowers have been unable to climb aboard the bargain bus, due to tightening credit restrictions by major lenders in the wake of the foreclosure crises.

Housing Prices Rise for Second Straight Month

By:
Peter King - MortgageLoan.com | April 22, 2009

Home prices rose slightly for the second straight month in February, raising hopes that the implosion of the real estate market may finally be bottoming out.

Congress Ponders Tougher Rules for Credit Card Companies

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

Credit card companies may soon have their hands tied, as Congress proposes legislation that limits how and when card issuers can raise rates and assess fees.

Affordable Housing Goal Cut to Prevent New Housing Bubble

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

The agency that now runs Fannie Mae and Freddie Mac will reign in Fannie and Freddie's affordable housing goals. The announcement comes as a subtle admission that affordable housing legislation created instability and imprudence in the mortgage lending industry.

Inspector General's Report Criticizes TARP Management

By:
Kirk Haverkamp - MortgageLoan.com | April 21, 2009

A report sharply critical of the Treasury Department's management of the government's Troubled Asset Relief Program (TARP) was released today by the program's legal overseer.

IMF Predicts Global Losses to Hit $4 Trillion by 2010

By:
Peter King - MortgageLoan.com | April 21, 2009

Total losses in the global economic meltdown could reach $4 trillion by 2010, according to a report released today by the International Monetary Fund (IMF).

Mortgage Rates Hold

By:
MortgageLoan.com - MortgageLoan.com | April 21, 2009

Mortgage rates continue to hold on Secretary of Treasury statements that banks are regaining stability.

Condo Owners may be Denied Mortgage Financing

By:
Catherine Brock - MortgageLoan.com | April 20, 2009

Fannie Mae and Freddie Mac now have stricter guidelines for mortgages made to condominium buyers. The changes could leave some would-be condo owners without affordable financing.

Obama to Take On Credit Card Companies

By:
Kara Johnson - MortgageLoan.com | April 20, 2009

Senior executives of the nation's leading credit card companies are scheduled to meet with White House economic advisor Larry Summers and other administration officials at the White House on Thursday. It may not be a pleasant meeting.

Housing Prices Now Considered Undervalued

By:
Peter King - MortgageLoan.com | April 20, 2009

Housing prices across the United States have fallen so far from their previous highs they are now considered slightly undervalued, with further declines yet to come.

Mortgage Rates Look to Improve

By:
MortgageLoan.com - MortgageLoan.com | April 20, 2009

Following a multi-week trend, mortgage rates look on track to improve (lower mortgage rates) to open the week.

Mortgage Interest Tax Break at Risk for High-Income Households

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

Changes are probably on the way for the mortgage interest tax deduction, as the Obama administration attempts to right the federal budget. 


FHA Mortgages Experiencing Instant Defaults

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

Once ignored by buyers, FHA-backed mortgages have enjoyed a dramatic resurgence in popularity. They're considered safer, more affordable, and easier to manage than many other kinds of loans. Despite that reputation, mortgage default rates on newer FHA loans have tripled. 


Lending by TARP Banks Remains Flat

By:
Kirk Haverkamp - MortgageLoan.com | April 17, 2009

Lending by the 20 largest banks to receive TARP funds remained flat through the first two months of the year, despite the program's stated goal of providing government funds to free up credit.

Legislation Seeks to Limit Creative Mortgages

By:
Kara Johnson - MortgageLoan.com | April 17, 2009

The subprime loans, exotic mortgages and endlessly repackaged securities that gave rise to the housing bubble are a thing of the past. New legislation now making its way through Congress seeks to ensure that they stay that way.

Do You Qualify for an Obama Mortgage Refinance?

By:
Greg Mischio - MortgageLoan.com | April 17, 2009

The Obama Administration has taken dramatic action to help the U.S. out of its current economic slump. Their mortgage refinance plan, for example, is designed to help people capitalize on low interest rates. However, this loan modification program isn't available for everyone.

Mortgage Rates Steady

By:
MortgageLoan.com - MortgageLoan.com | April 17, 2009

Mortgage rates, after a slight re-pricing to higher rates, seem to be stable.

Non-profit Group Hits Road for Foreclosure Prevention

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

Homeowners in need of mortgage relief have a new team working on their behalf. The Neighborhood Assistance Corporation of America (NACA) offers foreclosure prevention counseling and loan modification negotiations to homeowners, free of charge. 


First Funds Released for Mortgage Relief Program

By:
Peter King - MortgageLoan.com | April 16, 2009

Financially stressed homeowners should finally begin to get some relief, now that the Treasury Department has completed arrangements with the first major lenders to participate in the administrations mortgage modification program.

New Housing Starts Fall, Dimming Hopes for Recovery

By:
Kirk Haverkamp - MortgageLoan.com | April 16, 2009

Hopes for a revival in home construction were dampened Thursday, with reports that new housing starts fell sharply in March following an unexpected rally the month before.

Mortgage Rates Climbing

By:
MortgageLoan.com - MortgageLoan.com | April 16, 2009

As expected mortgage rates begin to climb.

Reverse Mortgages Help Seniors in a Challenging Economy

By:
Tom Kerr - MortgageLoan.com | April 15, 2009

While most exotic mortgage products marketed in the past 10 years resulted in loss and crisis, the much-maligned reverse mortgage has bucked the trend. Although it's a rather misunderstood instrument, the reverse mortgage has emerged as a savior for many seniors who are strapped for cash.

Mortgages Up, But Other Lending Falls

By:
Peter King - MortgageLoan.com | April 15, 2009

Mortgage lending increased, but all other forms of credit declined in February among banks that were the major recipients of government funds under the Troubled Asset Relief Program (TARP), the U.S. Treasury reported Wednesday.

Foreclosures Hit Record High in March

By:
Kirk Haverkamp - MortgageLoan.com | April 15, 2009

Foreclosures shot up to a new all-time high in March, as banks ended self-imposed moratoriums that had been put in place to allow distressed homeowners time to seek assistance.

Mortgage Rates Flatten

By:
MortgageLoan.com - MortgageLoan.com | April 15, 2009

Mortgage-backed securities open with flat trading this morning. Yesterday's steep rally, which forced mortgage rates down seems to have stabilized.

Apartment Vacancies Rise Even as Foreclosures Soar

By:
Kara Johnson - MortgageLoan.com | April 14, 2009

With rising foreclosures driving more and more Americans out of home ownership, you'd think it would be a good time to be a landlord. After all, most people who lose their homes become renters.

Mortgage Refinance Fees on the Rise

By:
Tom Kerr - MortgageLoan.com | April 14, 2009

Anyone who has applied for a mortgage refinance lately in order to capture lower mortgage rates can testify to the fact that mortgage fees have increased. That often defeats the whole purpose of doing a mortgage refinance in the first place, and is helping to prolong the real estate crisis.

Mortgage Rates Open Higher

By:
MortgageLoan.com - MortgageLoan.com | April 14, 2009

Mortgage rates opened the day with a negative (higher) bias.

Housing Prices Continue to Fall

By:
Peter King - MortgageLoan.com | April 14, 2009

Median housing prices continued to drop rapidly in February, falling 3.0 percent, according to the monthly IAS360 House Price Index released today by Integrated Asset Services.

As More Seek FHA Loans, Delinquencies Rise

By:
Peter King - MortgageLoan.com | April 13, 2009

As the economy soured and credit tightened over the past two years, the Federal Housing Administration (FHA) has become an increasingly popular option for mortgage-seekers with limited resources and weak credit. Now, some fear the FHA could be headed for a financial crisis of its own.

Economists Predict Recession to End, Job Losses to Continue

By:
Kara Johnson - MortgageLoan.com | April 13, 2009

The good news is that most economists expect that the ongoing recession will end in the latter part of this year. The bad news is that many Americans are unlikely to notice.

Mortgage Rates-Little Change

By:
MortgageLoan.com - MortgageLoan.com | April 13, 2009

The mortgage securities markets opened slow today, with little significant change expected in mortgage rates.

Are Mortgage Cramdowns the Answer?

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

When mortgage lenders are forced to adjust the terms of a loan to settle a bankruptcy or help a borrower avoid foreclosure, for example, it's called a mortgage cramdown. While lenders sometimes call the cramdown a death sentence, it can be a godsend for a homeowner.

Good Time to Buy for First Time Homebuyers

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

Federal programs and housing prices present a compelling argument for first time homebuyers to make their move, even before the market demonstrates signs of recovery. 


Credit Cards Block Mortgage Refinance

By:
Greg Mischio - MortgageLoan.com | April 11, 2009

A mortgage refinance has always been dependent on a good credit score. In the past, people with solid credit histories have had nothing to worry about. However, recent actions taken by the credit card industry are affecting even credit-worthy people who've always played by the rules, casting doubt on their ability to get a mortgage refinance.

Beware of Loan Modification Companies

By:
Catherine Brock - MortgageLoan.com | April 10, 2009

Most companies that promise to help homeowners renegotiate mortgages aren't selling anything but pipe dreams.

Study: Short-Term Aid Best Approach to Avoid Foreclosure

By:
Peter King - MortgageLoan.com | April 10, 2009

Short-term assistance to ease the immediate effects of job loss and other financial crises may be a more effective way to help homeowners than loan modifications and other efforts to reduce long-term debt. That's the conclusion of a new study released by several Federal Reserve economists.

Obama Uses Bully Pulpit to Promote Mortgage Programs

By:
Peter King - MortgageLoan.com | April 10, 2009

President Barack Obama put on his salesman's hat Thursday, urging homeowners to take advantage of low interest rates and new government programs to refinance their mortgages to save money and help boost the economy.

Mortgages Help Boost Wells Fargo to Record Profits

By:
Kara Johnson - MortgageLoan.com | April 09, 2009

Wells Fargo reported Thursday that it expects to post a record earnings for the first quarter of 2009, driven by strong returns from its mortgage business and its acquisition last year of Wachovia Corp.

Mortgage Rates Rise

By:
MortgageLoan.com - MortgageLoan.com | April 09, 2009

Mortgage rates moved up slightly for the week, but still remain under 5%.

Reduce your Housing Costs: Appeal your Property Taxes

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

If your property's value has gone down, you may have a case for appealing your property taxes-even if your municipality is trying to raise them.

Mortgage Rates Post First Increase Since Fed Action

By:
Peter King - MortgageLoan.com | April 09, 2009

Mortgage rates rose slightly in the past week, the first increase after four weeks of declines that saw rates reach record lows.

Foreclosure Workshops Offer Aid to Homeowners

By:
Kara Johnson - MortgageLoan.com | April 08, 2009

Distressed homeowners seeking to avoid foreclosure may have more help available than they realize. Foreclosure workshops providing consumer assistance are frequently available in many states, particularly those with high rates of endangered homeowners. The workshops are typically free of charge and are offered by a variety of community-based organizations, many of them affiliated with the Department of Housing and Urban Development(HUD) -led HOPE NOW alliance.

Commerce Dept: Inventories Shrink, Sales Rise

By:
Peter King - MortgageLoan.com | April 08, 2009

U.S. wholesale inventories fell by record rate in February, the Commerce Dept. announced Wednesday, suggesting that businesses are beginning to get a handle on the glut of unsold goods that is holding down production.

Mortgage Rates Low and Slow

By:
MortgageLoan.com - MortgageLoan.com | April 08, 2009

Mortgage rates continue to hold a historic lows.

Second Mortgage May Block Mortgage Refinance

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

If you find a mortgage lender that will refinance your first mortgage, consider asking for a loan large enough to pay off your second mortgage, too.

Stimulus Bill Increases Reverse Mortgage Limits

By:
Catherine Brock - MortgageLoan.com | April 07, 2009

The federal government has raised the HECM maximum, which may give seniors access to more cash.

More Consumers Missing Mortgage Payments

By:
Kara Johnson - MortgageLoan.com | April 07, 2009

Mortgage delinquencies continued to rise in February, despite a number of other encouraging signs for the U.S. housing market, an indication that the ongoing recession has yet to hit bottom.

Credit Crunch Threatens to Boost Mortgage Interest Rates

By:
Kara Johnson - MortgageLoan.com | April 07, 2009

The good news for consumers is that mortgage rates are at an all-time low. The bad news is, there may not be much money to lend.

Mortgage Rates Steady

By:
MortgageLoan.com - MortgageLoan.com | April 07, 2009

Mortgage rates are relatively flat.

Negative Home Equity Growing Rapidly

By:
Tom Kerr - MortgageLoan.com | April 06, 2009

If you owe more on your mortgage than your home is worth, you have negative home equity. That often leads to foreclosure and bankruptcy. The value of home equity is shriveling, leaving growing numbers of homeowners upside down in their mortgages.

New Program to Crack Down on Mortgage Fraud

By:
Kirk Haverkamp - MortgageLoan.com | April 06, 2009

A new initiative to crack down on fraudulent loan modification and refinancing schemes and help homeowners protect themselves against mortgage relief scams has been announced by the Obama Administration.

Low Rates Spur Hiring by Mortgage Industry

By:
Kirk Haverkamp - MortgageLoan.com | April 06, 2009

Historically low interest rates are driving a hiring boom in the mortgage industry, as lenders strive to contend with sharply increased demand brought on by historically low interest rates and other incentives.

Short Week for Mortgage Rates

By:
MortgageLoan.com - MortgageLoan.com | April 06, 2009

Expect little movement in mortgage rates this week.

Tips to Understand Obama's Loan Modification Plan

By:
Greg Mischio - MortgageLoan.com | April 05, 2009

The Obama Administration is acting aggressively to battle the slumping economy. One industry in which it has focused its attention is banking. Toxic assets touched off our current credit crunch, so the administration has rolled out a loan modification program to ease the rising foreclosure rate.

Government Tries to Drive Down Mortgage Rates

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

Because investors are afraid to buy mortgage backed securities (MBS) or mortgage bonds, the Fed is using taxpayer money to buy large amounts of those financial instruments. By doing so, it hopes to lower the price of retail mortgage rates to help Americans buy or refinance homes.


Is Obama's Loan Modification Program too Complex?

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

Net present value tests, sticky eligibility requirements, and potential legal challenges make for a complicated loan modification program.

Mark-to-Market Eased, But to What Effect?

By:
Kirk Haverkamp - MortgageLoan.com | April 03, 2009

Under pressure from banks and some members of Congress, the U.S. Financial Accounting Standards Board has relaxed a controversial rule that some analysts say contributed to last fall's economic meltdown. The big question now is, will undoing it help set things right again?

Many Re-default Following Mortgage Modification

By:
Kirk Haverkamp - MortgageLoan.com | April 03, 2009

For many financially troubled homeowners, mortgage modifications obtained in 2008 provided only temporary relief, as more than four out of 10 quickly found themselves falling back into trouble again

Mortgage Rates Steady

By:
MortgageLoan.com - MortgageLoan.com | April 02, 2009

The mortgage securities market is off to a negative opening, potentially raising rates slightly.

Obama SBA Credit Program Hits Obstacle

By:
Kara Johnson - MortgageLoan.com | April 02, 2009

The Obama Administration's new initiative to free up credit for small businesses with an infusion of $15 billion for loans has hit a snag after the major lenders targeted by the program said they would not participate.

GMAC to Earmark $5 Billion for Auto Loans

By:
Kirk Haverkamp - MortgageLoan.com | April 02, 2009

In an effort to free up credit and boost auto sales, GMAC has announced it will earmark $5 billion for consumer auto loans over the next 60 days, while temporarily easing finance charges to auto dealerships.

Pending Home Sales Up Slightly in February

By:
Kirk Haverkamp - MortgageLoan.com | April 02, 2009

Pending home sales rose unexpectedly in February, (NAR), a possible indication that the depressed housing market may finally be bottoming out.

Former Bank Executives Profit from Mortgage Mess

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

Former Countrywide execs aren't done making money on the subprime crisis just yet; now they have a plan to profit by saving homeowners from foreclosures.

Mortgage Rates at Bottom?

By:
MortgageLoan.com - MortgageLoan.com | April 01, 2009

Mortgage rates seem ready to stabilize at current historic lows for an extended period of time.

Housing Prices Predicted to Bottom Out This Year

By:
Peter King - MortgageLoan.com | April 01, 2009

Housing prices still have a way to drop, but should bottom out by the end of the year, according to a new forecast from Moody's Analytics.

Bad Credit? Try an FHA Mortgage

By:
Catherine Brock - MortgageLoan.com | April 01, 2009

Poor credit borrowers don't have the subprime option anymore, but FHA loans are often a better fit anyway.