Mortgage Application Volumes Climb
- By:
- MortgageLoan.com | May 15, 2008
Mortgage applications again rose for a second consecutive week by 2.9 percent. The rise for the week ending May 9 has been largely fueled by an increase in demand for home refinancing loans as interest rates dropped.
The figures, which are part of the Mortgage Bankers Association weekly survey, show an increase in the application index to 674.4 during the week, compared with 655.4 the week before.
The refinance share of applications increased to 48.7 percent from 47.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.3 percent, up from 6.8 percent the previous week.
Applications filed for mortgages to purchase homes dipped a seasonally adjusted 0.7% on a week-to-week basis, while refinancing applications rose 6.5%
The MBA survey provides an overview of mortgage lending activity among mortgage bankers, commercial banks and thrifts and covers about half of all U.S retail residential mortgage applications.
Housing Rescue Slows as Foreclosures Increase
- By:
- MortgageLoan.com | July 04, 2008
With lenders on the back foot following mounting criticism over their sluggish attempts to quell the rising tide of foreclosures, new figures from Hope Now, show its members helped roughly 170,000 homeowners avoid foreclosure in May. The figure however is a 7 percent drop from April's figure of 183,000.
Mortgage Application Volumes Rise
- By:
- MortgageLoan.com | July 03, 2008
Weekly mortgage applications in the U.S rebounded in the week ended June 27, figures from the Mortgage Bankers' Association (MBA) revealed on Wednesday. The figure is a 3.6 percent week-over-week increase in applications.
Jazz Legend Avoids Foreclosure
- By:
- MortgageLoan.com | July 02, 2008
Renowned jazz vocalist, Ernestine Anderson has been able to stave off the threat of foreclosure - for now.
Florida sues Countrywide
- By:
- MortgageLoan.com | July 01, 2008
Florida has joined the increasing number of states to take action against Countrywide, with Florida Attorney General, Bill McCollum filing the lawsuit against the mortgage lender for predatory lending practices.
Five Indicted in Alleged Mortgage Fraud
- By:
- MortgageLoan.com | June 30, 2008
A federal grand jury has indicted five people on federal charges of conspiracy to commit bank fraud and other crimes tied to an alleged mortgage fraud scheme.
Countrywide Sued By States Over Lending Practices
- By:
- MortgageLoan.com | June 27, 2008
Countrywide Financial, the mortgage lender that lost $2.5 billion amid rising defaults and foreclosures as well as being widely blamed for worsening the U.S housing crisis through discriminatory lending has been sued by California and Illinois.
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