Home » Mortgage News » 2008 » July
Freddie Mac ups Ante in Fight against Foreclosure
Freddie Mac today outlined plans to tackle foreclosures by doubling financial incentives to mortgage serving companies. Read More» |
President Bush signs Housing Bill
President George W Bush has signed a landmark housing bill designed to provide mortgage relief for over 400,000 struggling U.S. homeowners, Fannie Mae and Freddie Mac as well as strengthen the housing finance system. Read More» |
Home Prices Experience Record Drop
Home prices for the month of May dropped a record 15.8 percent over the same period last year, Standard & Poor's / Case-Shiller 20 city index revealed on Tuesday. Read More» |
Senate Passes Mortgage Aid Bill
The U.S. Senate has approved a housing rescue bill by a 72-13 vote to help beleaguered homeowners stave off the threat of foreclosure. Read More» |
U.S Home Sales at Record Low
The housing crisis shows no signs of abating as figures revealed on Thursday from an industry group show that the number of homes sold in the U.S fell by 2.6 percent in June compared over the same period last year to reach its lowest level in ten years. Read More» |
Mortgage Application Volumes Drop 6.2 percent
An increase in interest rates contributed to a decline in demand for mortgage application volumes which witnessed a 6.2 percent decrease in the week ending July 18, an industry trade group revealed on Wednesday. Read More» |
Senate Agrees Housing Package Deal
Senate leaders have agreed upon a rescue plan for the two largest mortgage finance companies Fannie Mae and Freddie Mac. The deal would allow the government to insure up to $300 billion in refinanced mortgages. Read More» |
Wachovia Ceases Wholesale Mortgage Lending Operations
Wachovia on Monday confirmed it was pulling out of the wholesale mortgage lending business as of Friday, July 25th. Read More» |
Donald Trump Makes Real Estate Killing
Property Tycoon, Donald Trump has defied the slump in the real estate market by selling his Florida Mansion for $100 million to a Russian billionaire. Read More» |
FBI Investigating Possible Fraud at IndyMac
IndyMac is one of several banks being probed by the Federal Bureau of Investigation (FBI) for possible mortgage fraud, a U.S official revealed on Wednesday. Read More» |
Fed Chief Paints Bleak Economic Outlook
The US economy will continue to face "numerous difficulties" with no sign of easing over the next two years was the depressing message delivered to Senators by Federal Reserve Chairman, Ben Bernanke on Tuesday. Read More» |
Fed Outlines New Mortgage Rules
In new mortgage rules designed to take a hard line approach against predatory mortgage practices, Federal Reserve Chairman, Ben Bernanke said the focus would be on protecting the consumers. Read More» |
IndyMac Collapses amidst Financial Crisis
IndyMac Bank becomes the second largest financial institution to fall in U.S history as it succumbed to the pressures of the credit crunch. Risky lending practices also contributed to the bank's demise. Read More» |
Foreclosures up 53 percent
Foreclosures jumped 53 percent in June from a year earlier, a report published by a California research firm revealed on Thursday. Read More» |
Mortgage Application Volumes up Last Week
Mortgage application volumes experienced a 7.5 percent increase last week, according to a survey by the Mortgage Bankers Association (MBA). This is a clear indication that falling home prices are attracting some buyers. Read More» |
Schwarzenegger Signs Foreclosure Relief Bill
California Governor Arnold Schwarzenegger has signed a bill designed to stem the tide of foreclosures in the state. Read More» |
US Apartment Market Stable in Q2
Increasing fuel costs helped stabilize the US apartment market, with major cities experiencing a growing demand for rental accommodation in close proximity to where people work, Reis Inc reported on Saturday. Read More» |
Fannie and Freddie Shares Plunge
Shares in Fannie Mae and Freddie Mac experienced their sharpest drop in 16 years on Monday amid fears the government backed enterprises may be forced to raise as much as $75 billion in additional capital. Read More» |
Housing Rescue Slows as Foreclosures Increase
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... Read More» |
Mortgage Application Volumes Rise
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. Read More» |
Jazz Legend Avoids Foreclosure
Renowned jazz vocalist, Ernestine Anderson has been able to stave off the threat of foreclosure - for now. Read More» |
Florida sues Countrywide
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. Read More» |