Mortgage News October, 2008

FDIC Negotiating with Treasury for Broad Loan Modification Plan

By:

Bill Rice - MortgageLoan.com | October 31, 2008

FDIC Chair Sheila Bair has been advocating a broad program of loan modifications since the...

Mortgage Applications are Following Mortgage Rates, No Housing Recovery

By:

Bill Rice - MortgageLoan.com | October 30, 2008

Mortgage Bankers Association's regular survey of mortgage applications showed a 17 percent spike...

Fed Cuts Rate Half a Point, Now at 1 Percent-Mortgage Rates Head Higher

By:

Bill Rice - MortgageLoan.com | October 29, 2008

The Federal Reserve unanimously cut the benchmark rate to 1 percent. This expected, but...

Market Leaps Nearly 900 Points, Eyes Turn to Fed Rates Today

By:

Bill Rice - MortgageLoan.com | October 29, 2008

Shortly after US markets opened yesterday, with the Dow hovering just over 8000, traders eyes...

US Home Builders Propose Home Buyer Plan to Help Housing Market

By:

Bill Rice - MortgageLoan.com | October 28, 2008

Home sales unexpectedly jumped 2.7 percent in September, giving hope for a bottom to the housing...

Breaking the Cycle of Foreclosures without Economic Recovery is Daunting

By:

Bill Rice - MortgageLoan.com | October 27, 2008

Foreclosures continue to surge, up 55% from last year and the future doesn't look any better...

FDIC Chairman Brings New Loan Modification Incentive Plan

By:

Bill Rice - MortgageLoan.com | October 24, 2008

Loan modifications are certainly looking like the necessity plan with 7.3 million homeowners...

Mortgage Rates Spike, but Could Be on the Decline

By:

Bill Rice - MortgageLoan.com | October 23, 2008

There are lots of unusual effectors in the market driving today's mortgage rates. Most of them...

Mortgage Bankers Looking for Lending Options in High Cost Markets

By:

Bill Rice - MortgageLoan.com | October 22, 2008

If you are looking to buy or refinance a house in New York or California you may find financing...

Bernanke Encourages Additional Stimulus Package as Consumer Weakness Mounts

By:

Bill Rice - MortgageLoan.com | October 21, 2008

In an unusual endorsement of Congressional fiscal policy Federal Reserve Chairman Bernanke...

Who's to Blame for the Mortgage Crisis?

By:

Tom Kerr - MortgageLoan.com | October 20, 2008

While the mortgage crisis undermines the entire economy, nobody is taking responsibility or...

US Attorney Hunting Down Mortgage Crooks, Ready to Indict

By:

Bill Rice - MortgageLoan.com | October 17, 2008

US Attorney Thomas O'Brien, Los Angeles' top federal prosecutor, is routing out mortgage fraud in...

Mortgage Applications Leap Upward, Even as Mortgage Rates Climb

By:

Bill Rice - MortgageLoan.com | October 16, 2008

Mortgage applications increase for the second straight month. Despite a jump in mortgage interest...

Paulson Will Invest in Thousands of Banks, But Can He Get Them to Lend?

By:

Bill Rice - MortgageLoan.com | October 15, 2008

The Treasury has now shifted its strategy in deploying the $700 billion rescue legislation. It...

Obama Announces a Larger Economic Vision

By:

Bill Rice - MortgageLoan.com | October 14, 2008

On the campaign trail in Toledo, OH yesterday Senator Barack Obama grabbed a piece of the...

US Government Takes Columbus Day to Get Down to Work

By:

Bill Rice - MortgageLoan.com | October 13, 2008

Normally a day for government offices and banks to take the day off, this Columbus day was all...

European and Asian Markets Rise On New International Assurances

By:

Bill Rice - MortgageLoan.com | October 13, 2008

Following a Friday meeting of the G-7 (Economic leaders of the top 7 industrialized nations) and...

Market Hits Record Lows, Are We Doing Too Much?

By:

Bill Rice - MortgageLoan.com | October 10, 2008

The US Stock Market plummeted to record breaking lows Thursday despite increasingly extraordinary...

Paulson Takes Page from British, May Directly Inject Capital into US Banks

By:

Bill Rice - MortgageLoan.com | October 09, 2008

On Wednesday the British government launched a plan to offer up to £50 billion ($87...

US Fed and Major World Central Banks Coordinate Rate Cut

By:

Bill Rice - MortgageLoan.com | October 08, 2008

Major world central banks react to a broadening global economic crisis by taking extraordinary...

Loan Modifications, Not Government Bailouts May Be the Answer

By:

Bill Rice - MortgageLoan.com | October 07, 2008

Bank of America is to launch an $8.6 billion loan modification program. Initiated as settlement...

Understanding the Bailout Rescue Plan

By:

Tom Kerr - MortgageLoan.com | October 06, 2008

The Emergency Economic Stabilization Act of 2008-better known as the rescue plan-finally passed...

House Set to Vote Again on $700 Billion Bailout

By:

Bill Rice - MortgageLoan.com | October 03, 2008

Once again the fate of the $700 billion economic stabilization legislation sits in the chambers...

Senate Evening Vote Ends Passes Bailout Plan, House Now Holds Keys

By:

Bill Rice - MortgageLoan.com | October 02, 2008

In an evening vote by the Senate, most likely not a coincident that it was after US market close...

US Senate to Vote on $700 Billion Rescue Plan

By:

Bill Rice - MortgageLoan.com | October 01, 2008

Tonight the US Senate will take their turn at passing the $700 billion bailout plan. On the heels...