- By:
- Kirk Haverkamp - MortgageLoan.com | 11/02/2009 - 1:54am
Pending home sales and residential construction both posted significant increases in September, according to separate reports released today by the Commerce Department and National Association of Realtors (NAR), signaling that the housing market may be pulling out of its doldrums.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/26/2009 - 1:01am
A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/23/2009 - 4:20pm
Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.
Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/22/2009 - 12:03am
The Index of Leading Economic Indicators rose again in September, making six straight months the index has risen and providing hope that an economic recovery is in the offing.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/20/2009 - 12:18am
A new program to help low- and moderate-income homebuyers obtain mortgages has been announced by the Obama administration.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/19/2009 - 12:39am
Thirty percent of U.S. foreclosures are occurring among the top third, an indication that the foreclosure crisis is hitting well-to-do homeowners in almost equal proportion to lower income families.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/16/2009 - 12:08am
Mortgage rates rose slightly this past week, but still remained under 5 percent for a 30-year fixed rate mortgage, according to the weekly survey by government-backed lender Freddie Mac.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/15/2009 - 12:44am
U.S. foreclosure filings hit an all-time high in the third quarter of the year, according to the foreclosure data firm RealtyTrac, with one home in 136 receiving at least one foreclosure filing during that period.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/14/2009 - 12:40am
Retail sales fell in September, but analysts are still hailing it as a hopeful sign for the economy. That's because nonautomotive sales actually rose for the second straight month and more than analysts expected.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/13/2009 - 12:53am
U.S. home prices fell slightly in August, raising concerns of a new downturn following several months in which the market appeared to be rallying, according to a new report from national foreclosure management company Integrated Asset Services (IAS).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/12/2009 - 12:47am
Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/09/2009 - 12:22am
The Federal Housing Administration may be running low on cash, but it won't need a government bailout, FHA Commissioner David Sterns told members of Congress on Thursday.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/08/2009 - 12:12am
More than one-quarter of all nondistressed homes for sale in the U.S. have seen at least one price cut since going on the market, at an average discount of 10 percent off the listed price, the real estate data firm Trulia Inc. reported today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/07/2009 - 12:30am
Mortgage applications surged to their highest level since last spring, as 30-year interest rates remained below 5 percent for the third consecutive week, according to the weekly survey by the Mortgage Bankers Association.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/06/2009 - 12:02am
Consumers are becoming increasingly upset with their credit card companies, with about one in six recently closing out at least one card in response to actions taken by their credit card issuers.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/05/2009 - 12:31am
Black and Hispanic mortgage loan applicants in the United States continued to face higher rejection rates on than whites and Asians last year, according to data released by the Federal Reserve last week.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/02/2009 - 12:21am
Pending home sales rose for the seventh consecutive month in August, the National Association of Realtors has reported, the longest streak of monthly increases since the organization began reporting data in 2001.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 10/01/2009 - 12:19am
Completed foreclosures rose almost 17 percent in the second quarter of the year, with lenders reclaiming 106,000 properties from U.S. homeowners, according to official government figures released Wednesday.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/30/2009 - 12:10am
The U.S. gross domestic product shrunk at an annual rate of 0.7 percent in the second quarter of the year, far slower than in the preceding quarter and less than previous estimates had predicted.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/29/2009 - 12:19am
U.S. home prices rose for the third straight month in July, according to a leading index, but the good news comes against a background of more recent data showing continued trouble for the economy.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/28/2009 - 12:09am
The U.S. Treasury will provide up to $35 billion over the next three years to state housing agencies to support low- and moderate income mortgages, according to new reports.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/25/2009 - 5:36pm
Sales of newly constructed single-family homes rose for the fifth month in a row in August, according to figures released today by the U.S. Census Bureau and Department of Housing and Urban Development (HUD).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/24/2009 - 12:10am
Seeking to avoid a big jump in interest rates, the Federal Reserve has voted to stretch out its program to buy mortgage-backed securities and other debt to ease the impact on credit markets.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/23/2009 - 12:52am
Interest rates on 30-year mortgages fell below the 5 percent barrier last week for the first time since May, prompting a surge in homeowners seeking to refinance their mortgages, according to the weekly rate survey from the Mortgage Bankers Association.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/22/2009 - 12:46am
U.S. housing prices rose 0.3 percent in July, somewhat weaker than analysts had expected, according to figures released today by the Federal Housing Finance Agency (FHFA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/21/2009 - 12:17am
The Federal Housing Administration has announced that it will require higher credit scores and tighten credit requirements in general for both lenders and borrowers, effective January 1.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/18/2009 - 12:53am
Fifteen-year mortgage rates hit their lowest level in at least 18 years last week, dropping to an average 4.47 percent and 0.6 points, megalender Freddie Mac announced Thursday.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/17/2009 - 12:05am
New housing construction starts rose modestly in August, continuing a generally upward trend since last spring and providing further hope that the housing market and economy are stabilizing after the worst economic downturn since the Great Depression.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/16/2009 - 12:42am
The recession is probably over, at least from a technical standpoint, Federal Reserve Chairman Ben Bernanke said Tuesday, although the economy will likely continue to struggle for another year or more.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/15/2009 - 12:37am
U.S. retail sales rose 2.7 percent in July, driven largely by automotive sales but reflecting gains in general merchandise and food service sales as well, the Commerce Department announced today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/14/2009 - 12:27am
In an effort to help homeowners avoid foreclosure, the Federal Deposit Insurance Corp. (FDIC) is urging its partner banks to temporarily reduce mortgage payments for borrowers who have become unemployed or underemployed.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/11/2009 - 5:06am
U.S. home prices rose for the fourth consecutive month in August, according to the monthly Standard & Poors/Case Shiller Index, although rising unemployment and the pending expiration of the first-time homebuyer's tax credit raise doubts about whether the trend can be sustained.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/11/2009 - 12:25am
U.S. Rep. Barney Frank (D-Mass.) and other leading Democrats have indicated that they may try again to pass "cramdown" legislation giving bankruptcy judges authority to modify mortgages if lenders don't do a better job of assisting at-risk homeowners.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/10/2009 - 12:45am
Foreclosure filings dropped slightly in August, but still remained near record levels, according to figures released this morning by the foreclosure tracking firm RealtyTrac.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/09/2009 - 12:10am
Applications for new mortgages jumped sharply last week, as 30-year fixed interest rates dropped toward the magic 5 percent level, according to the weekly survey by the Mortgage Bankers Association.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/08/2009 - 12:11am
U.S. housing prices fell slightly in July, reversing four months of modest gains, according to the latest IAS360 survey of major housing markets.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/04/2009 - 12:47am
The IRS will likely start taking a closer look at mortgage interest deductions and payments in an effort to identify tax cheats who are underreporting their income or not filing at all.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/02/2009 - 12:36am
Mortgage rates fell last week, but the decrease failed to spur homeowners and potential home buyers into additional mortgage refinances and home purchases, according to figures released today by the Mortgage Bankers Association.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 09/01/2009 - 12:05am
Pending home sales rose in July for the sixth consecutive month, the longest streak of monthly increases since the National Association of Realtors (NAR) began tracking the data in 2001, one of several reports today offering positive economic news.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/31/2009 - 12:28am
Communities with walkable neighborhoods command higher home prices than similar properties where a car is required for getting around, according to a recent study of 15 major urban areas.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/28/2009 - 12:06am
Consumer spending rose 0.2 percent in July, increasing for the third month in a row, although at a lower rate than the month before, the Commerce Department reported today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/27/2009 - 12:49am
Mortgage rates remained essentially unchanged this past week, rising only by the smallest of margins, according to two of the nation's leading rate surveys.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/26/2009 - 12:30am
Sales of newly constructed single-family homes rose for the fourth month in a row in July, increasing almost 10 percent to a seasonally adjusted annual rate of 433,000 units.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/25/2009 - 12:07am
U.S. home prices rose nearly 3 percent in the second quarter of the year, the first quarterly gain in housing prices in nearly three years, according to the latest Standard & Poor's/Case-Shilling Home Price Index.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/24/2009 - 12:39am
Indianapolis continues to lead the nation in home affordability among major cities, with nearly 95 percent of all homes affordable by a family earning the area's median income.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/21/2009 - 12:45am
Sales of existing homes rose sharply in July, rising 7.2 percent in the biggest monthly increase in at least 10 years, according to figures released today by the National Association of Realtors (NAR).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/20/2009 - 12:25am
Average 30-year mortgage rates dropped to their lowest level in nearly three months this past week, falling to 5.12 percent in the weekly Freddie Mac mortgage rate survey released this morning.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/19/2009 - 12:52am
U.S. homeowners are increasingly optimistic about their future home values, even though they continue to overestimate just how well those values have been holding up in the current downturn, according to a new report.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/18/2009 - 12:14am
Construction permits for single-family homes rose again in July, increasing 5.8 percent to an annualized rate of 458,000, according to figures released today by the Commerce Department.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/17/2009 - 12:49am
Mortgage loan delinquencies increased for the 10th straight quarter from April to June, hitting an all-time high of 5.81 percent of all home loans. However, the rate of increase slowed for the first time since the recession began, suggesting that the mortgage market may be stabilizing, according to the credit reporting company Transunion, which released the report.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/14/2009 - 12:03am
One-quarter of all U.S. homes for sale have seen at least one price reduction since being listed, as more home sellers are forced to readjust their expectations in a declining home market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/13/2009 - 12:25am
The U.S. foreclosure rate rose 7 percent in July, and set a new record for the third time in five months, according to the foreclosure marketing firm RealtyTrac, in a report released today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/12/2009 - 12:29am
Sales of existing homes posted a modest gain in the second quarter of 2009, rising 3.8 percent to an annual rate of 4.76 million units, according to figures released today by the National Association of Realtors.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/11/2009 - 12:14am
U.S. productivity rose at an annual rate of 6.4 percent in the second quarter of the year, the biggest increase in nearly six years, according to figures released this morning by the Labor Department.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/10/2009 - 12:54am
Most economists believe the recession is either ending or has already ended, according to a leading survey of private economists released this morning.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/07/2009 - 12:27am
Nearly half of U.S. homeowners with mortgages could soon end up owing more on their loans than their property is worth, according to a new report from Deutsche Bank.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/06/2009 - 12:01am
Mortgage rates once again posted a mixed performance this past week, with two of the major surveys reporting declines against one that reported an increase.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/05/2009 - 12:26am
Pending home sales posted their fifth straight monthly increase in June, according to new figures from the National Association of Realtors (NAR), the longest streak of consecutive monthly increases since July 2003.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/04/2009 - 12:09am
The first "report card" on how well lenders are doing in modifying mortgage loans under the Making Home Affordable Program (MHA) has been released, and there's a big difference between the top and bottom of the class.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 08/03/2009 - 12:09am
Foreclosures and mortgage loan delinquencies are outpacing loan modifications, despite the Obama administration's efforts to help financially pressed Americans avoid losing their homes.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/31/2009 - 12:10am
Sun Belt cities continue to be pummeled by foreclosures, with California and Florida heavily dominating the list of worst-affected communities, according to new data from the foreclosure management firm RealtyTrac.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/30/2009 - 12:36am
The Obama Administration is putting increased pressure on the nation's lenders to step up the pace of mortgage loan modifications performed under the government's Making Home Affordable (MHA) foreclosure avoidance program.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/28/2009 - 12:16am
Sales of newly constructed homes rose 11 percent in June, according to new data released by the Commerce Department, as buyers continue to be drawn back into the market by low prices, tax incentives and mortgage rates that remain near historic lows.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/27/2009 - 8:37am
New rules designed to provide consumers with a clearer understanding of the potential costs and risks of a particular type of loan when applying for a mortgage or home equity line of credit (HELOC) have been proposed by the Federal Reserve Board of Governors.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/24/2009 - 12:26am
Mortgage rates posted a mixed performance this past week, with the three leading weekly surveys showing significant disagreement over which way rates are headed.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/23/2009 - 12:08am
Sales of existing homes rose for the third month in a row in June, the first time that's happened in five years, according to survey data released today by the National Association of Realtors.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/22/2009 - 12:55am
New rules to tighten regulation of credit rating agencies, which were blamed for failing to properly assess the risk of mortgage-backed securities prior to the collapse of credit markets last fall, are being proposed by the Obama Administration.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/21/2009 - 12:16am
Nearly 186,000 Federal Housing Administration (FHA) loans were made in June, the most in the agency's history, as its relatively relaxed lending standards continue to attract homebuyers squeezed out of other credit markets.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/20/2009 - 12:19am
The Index of Leading Economic Indicators rose for the third straight month in June, reinforcing hopes that the recession is nearing an end, even as a companion index showed actual economic activity continues to decline.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/17/2009 - 12:43am
New home construction rose in June, driven by a strong surge in construction starts on single-family homes, which were up nearly 15 percent from May's level, according to new figures released by the Census Bureau.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/16/2009 - 12:08am
Foreclosures filings rose nearly 11 percent in the second quarter of the year, as a number of lenders lifted voluntary moratoriums that had been in place during the first few months of the year and job losses continued to take their toll on the housing market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/14/2009 - 12:44am
Home prices rose for the second month in a row in May, with increases posted in all four major regions of the United States, according to the monthly IAS360 Home Price Index.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/10/2009 - 12:26am
Expressing dissatisfaction with the progress to date under the government's Making Home Affordable Program the Obama Administration is urging the nation's lenders to do more to help financially troubled homeowners obtain mortgage loan modifications.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/09/2009 - 12:12am
Quarterly home prices have risen nationwide for the first time since 2006, according to at least one new study, with prices edging up 1.7 percent over the previous quarter.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/08/2009 - 12:10am
Mortgage activity increased last week, with applications for both refinances and new home purchases rising after interest rates backed down from recent highs.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 07/06/2009 - 12:12am
First-time home buyers in Michigan are getting an added incentive to buy a home, as the state is rejoining an old and often overlooked federal tax credit program.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/30/2009 - 12:01am
The decline in home prices slowed for the third straight month in April, according to a leading market surveys, suggesting that while the housing market has not turned around, it may finally be firming up.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/29/2009 - 12:06am
As many as one in four mortgage defaults are voluntary, with homeowners walking away from the property despite an ability to make mortgage payments, according to a new study by economists at Northwestern University and the University of Chicago.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/26/2009 - 12:18am
People who are still hoping to refinance their mortgage or are shopping for a home got some good news the past two days, thanks to an easing of concerns over some of the factors that have been pushing up mortgage rates.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/25/2009 - 12:07am
Sales of newly built single-family homes have remained relatively stable the past four months, meeting a Commerce Department standard for the establishment of a trend.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/24/2009 - 12:08am
U.S. mortgage applications increased last week, ending four consecutive weeks of declines, according to data released this morning by the Mortgage Bankers Association (MBA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/23/2009 - 12:08am
Problems with faulty appraisals in a distressed housing market are causing increasing numbers of home sales to fall through at the last minute, the National Association of Realtors (NAR) is reporting.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/22/2009 - 12:16am
The Obama Administration's Making Home Affordable Plan may soon increase its limits on refinancing "underwater" mortgages to allow more homeowners to take advantage of the program, according to the director of the Federal Housing Finance Agency (FHFA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/19/2009 - 12:33am
The Making Home Affordable Plan is picking up steam, according to HUD Secretary Shaun Donovan, extending trial mortgage loan modifications to 40,000 homeowners in the past week alone.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/17/2009 - 12:50am
Endless lines of fine print, hidden charges and "exploding" interest rates on mortgages could be a thing of the past under a sweeping reform of the nation's financial regulations proposed Wednesday by the Obama Administration.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/16/2009 - 12:02am
New housing construction starts were up sharply in May, spurred by low mortgage rates and a first-time homeowner tax credit widely credited for stirring interest in the slumping housing market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/15/2009 - 12:23am
With 30-year mortgage rates moving upward from the recent historic lows, many people are wondering if they can still get a good deal on a mortgage. The answer is definitely yes - provided you keep a few things in mind.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/15/2009 - 12:08am
In an effort to pressure lenders into doing more mortgage loan modifications to help keep financially troubled borrowers in their homes, California is today implementing a 90-day moratorium on foreclosures.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/12/2009 - 12:32am
For homeowners who are having difficulty meeting their mortgage payments, a loan modification can help them avoid foreclosure and stay in their homes. Most lenders offer some sort of loan modification options, but a government-sponsored loan modification under the Making Home Affordable (MHA) Plan offers one key advantage borrowers should be aware of.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/12/2009 - 12:05am
The Federal Reserve is unlikely to take strong actions to bring mortgage rates back down again when it meets later this month, the Wall Street Journal is reporting.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/11/2009 - 12:04am
More than 150,000 homeowners have been offered mortgage loan modifications through the government's Making Home Affordable Plan in the program's first three months, according to the U.S. Department of Treasury.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/11/2009 - 12:20am
Can you still get a good mortgage refinance rate? With mortgage rates climbing nearly a full percentage point over the past month, many people who had been hoping to refinance their mortgages to a lower rate are wondering if they've missed the bargain boat.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/10/2009 - 12:45am
With rising mortgage rates threatening to squelch a potential housing recovery before it even gets started, a coordinated effort by business interests and members of Congress is seeking greatly expand the new $8,000 tax credit homebuyer tax credit and make it available to more than just first-time homebuyers.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/10/2009 - 12:08am
Mortgage rates rose nearly a third of a percent last week, according to figures released today by the Mortgage Bankers Association (MBA), further dampening interest in mortgage refinancing, which had flourished in the weeks after rates hit record lows in March.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/09/2009 - 12:16am
The New York State Attorney General today announced plans to sue one of the state's largest loan modification assistance companies and subpoena records from 14 others as part of an investigation into an industry that many say takes unfair advantage of homeowners in financial distress.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/09/2009 - 12:01am
U.S. housing prices leveled off in April, reversing 10 straight months of declines as low mortgage rates and a first-time homebuyer tax credit lured buyers back into the market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/08/2009 - 12:09am
Mega mortgage lender Freddie Mac is making several changes to provide homeowners with more flexibility in obtaining a government refinance of their mortgage under the Obama Administration's Making Home Affordable Program.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/08/2009 - 12:20am
Stricter rules governing reverse mortgages are needed to guard against repeat of the kind of problems that led to the subprime mortgage crisis, the U.S. Comptroller of Currency has said.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/05/2009 - 12:28am
Nearly one in four homes currently for sale in the United States have undergone at least one price reduction as owners adjust their expectations to the realities of the current housing market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/05/2009 - 12:00am
Job losses declined to 345,000 in May, well below what economists had predicted and the fewest since last September, the Labor Department reported today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/04/2009 - 12:23am
Weekly unemployment claims fell for the first time in five months, the latest "green shoot" to pop up this spring and raise hopes the economy may soon begin to recover.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/04/2009 - 12:42am
Mortgage rates took another big jump for the second week in a row, frustrating homeowners who had still hoped to lock in a refinance at ultra-low rates, but perhaps not enough to deter bargain-hunting home buyers seeking to take advantage of a depressed housing market.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/03/2009 - 12:41am
More than one million homes have already been targeted for foreclosure in 2009, with the rate only expected to increase, according to data released this week by the Center for Responsible Lending (CRL).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/03/2009 - 12:02am
Homeowners looking to refinance may have missed their best opportunity, as 30-year fixed-rate mortgages shot up nearly half a percent last week, according to figures from the Mortgage Bankers Association.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/02/2009 - 1:42am
The new credit card rules that President Obama signed into law last month will provide a number of protections for consumers. But some analysts say that many consumers will actually end up paying more to use their credit cards or may find it more difficult to obtain credit to begin with.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/02/2009 - 12:09am
The Federal Trade Commission (FTC) is looking to clamp down on so-called "foreclosure rescue" scams by restricting or banning outright advance payments to loan modification services that offer to solve homeowner's mortgage problems for a fee.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/02/2009 - 12:38am
Pending home sales rose sharply in April, the third consecutive month of increases, according to a monthly report released today by the National Association of Realtors (NAR).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 06/01/2009 - 12:16am
U.S. residential construction spending rose slightly in April, reversing seven months of declines, according to data released today by the Commerce Department.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/29/2009 - 12:00am
First-time homebuyers will be able to immediately apply an $8,000 tax credit toward the purchase of a new home, the secretary of the U.S. Department of Housing and Urban Development (HUD) announced today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/28/2009 - 12:38am
Mortgage rates edged higher this week, as inflationary fears drove up the cost of borrowing despite the Federal Reserve's ongoing efforts to keep interest rates down.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/28/2009 - 12:03am
More than one U.S. mortgage in eight is either past due or in foreclosure, as the number of new foreclosures rose sharply in the first quarter of the year.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/27/2009 - 12:08am
Existing home sales rose slightly in April, driven by bargain hunters taking advantages of foreclosures, short sales and near-record low interest rates.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/27/2009 - 12:47am
U.S. housing prices fell by half a percent in the first quarter of 2009, the smallest decrease since the housing downturn began, according to a figures released Wednesday by the Federal Housing Finance Agency (FHFA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/26/2009 - 12:49am
A new study is raising doubts about the effectiveness of mortgage loan modifications as a means of providing relief to financially stressed homeowners.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/26/2009 - 12:22am
Housing prices continued to decline in March, suggesting that the housing market has yet to bottom out, according to a Standard & Poor's survey released today.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/22/2009 - 12:06am
The New York State Attorney General has announced an investigation into the debt settlement industry, issuing subpoenas to 14 debt settlement companies and one law firm with nationwide operations.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/21/2009 - 12:12am
Legislation to make the floundering Hope for Homeowners mortgage bailout program more attractive to lenders was signed into law Wednesday by President Obama, along with another measure designed to crack down on mortgage fraud.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/21/2009 - 12:35am
The Conference Board's Index of Leading Economic Indicators posted its first increase in seven months in April and its biggest gain since November 2005, in one of the most hopeful signs to date that the economy may finally be bottoming out.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/20/2009 - 12:24am
Credit remains cheap but hard to get, as mortgage rates declined again last week, approaching the record lows they have posted over the past two months.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/20/2009 - 12:01am
The Obama administration appears to be floating a trial balloon to test the viability of a proposal that would concentrate authority over consumer financial products such as mortgages and credit cards within a single agency.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/19/2009 - 12:14am
New housing starts in April fell to their lowest level in 50 years, even as home builders are starting to say that things are starting to look up.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/18/2009 - 12:04am
Financially stressed Texas homeowners could soon get a little more breathing room from the state's "fastest foreclosure in the West" foreclosure law under legislation that recently passed the state senate.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/15/2009 - 12:33am
The intense demand for home mortgage refinancing, which has soared over the past six months as mortgage rates have fallen, may finally be slackening.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/15/2009 - 12:08am
U.S. homeowners are increasingly coming to terms with declines in property values, but many remain unrealistically optimistic about the value of the own property, especially in regard to future trends, according to a new survey of consumer confidence.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/14/2009 - 12:28am
The Obama Administration is expanding its homeowner assistance program to provide new incentives for lenders to modify at-risk mortgages and to promote remedies short of foreclosure in cases where a homeowner cannot retain the property.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/14/2009 - 12:06am
First-time homebuyers may soon be able to apply an $8,000 tax credit to their mortgage down payment, under a plan being advanced by the Federal Housing Administration (FHA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/13/2009 - 12:09am
U.S. foreclosure rates increased slightly in April, easing what had a series of steady increases over the past year, but still enough to set a new all-time high.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/13/2009 - 12:58am
Both foreclosures and foreclosure prevention efforts by government-sponsored lenders jumped in February, as Fannie Mae, Freddie Mac and their kin lifted a two-month moratorium that had kept a lid on things.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/12/2009 - 12:39am
Foreclosures and short sales made up nearly half of all existing single-family home sales in the first three months of 2009, as housing prices recorded their biggest annual decline on record.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/12/2009 - 12:06am
Citibank will make available an additional $1 billion in loans to refinance mortgages for qualified homeowners, using capital it obtained through the Troubled Asset Relief Program (TARP), the bank has announced.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/11/2009 - 12:07am
In a worsening economy, small businesses are growing increasingly reliant on the use of credit cards to cover expenses, despite increasingly unfavorable terms on those cards, according to a new report from the National Small Business Association (NSBA).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/11/2009 - 12:51am
In the wake of a number of encouraging economic trends in recent weeks, some economists are beginning to suggest that the worst recession in 80 years may already have ended.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/08/2009 - 12:46am
Job losses slowed in April, even as overall unemployment reached its highest level in over 25 years, according to figures released by the Labor Department on Friday.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/08/2009 - 12:17am
The Federal Housing Administration (FHA) says that its finances are solid, but still expects to ask the federal government for $800 million to cover losses in a reverse mortgage program for senior citizens.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/07/2009 - 12:58am
A group of mortgage investors is expressing their support for measures that would enable homeowners to reduce the principal on at-risk mortgages and is calling on the banking industry to join them.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/07/2009 - 12:06am
With foreclosure rescue scams and other predatory lending practices on the rise, the National Association of Realtors (NAR) is calling on Congress to enact new protections for consumers.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/06/2009 - 12:57am
Legislation passed by the U.S. Senate on Wednesday may give new life to a program for financially stressed homeowners that has largely been a dud since it was introduced last year.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/06/2009 - 12:07am
More than one in five U.S. homeowners now "underwater" on their mortgages, owing more than the home is worth, according to a new report documenting the continued slide in U.S. home values.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/05/2009 - 12:29am
The Federal Reserve Board, which has been moving aggressively to breathe life into the residential real estate market, has announced new measures to boost commercial real estate as well.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/05/2009 - 12:05am
Construction spending rose slightly in March, reversing five straight months of declines, according to figures released Monday by the Commerce Department.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/04/2009 - 12:06am
Pending home sales rose in March, as first-time buyers took advantage of low prices and mortgage interest rates, plus an $8,000 tax credit, to make the move into home ownership.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 05/01/2009 - 12:50am
U.S. mortgage lenders modified nearly 134,000 mortgages for at-risk homeowners in March for the second month in a row, with foreclosure sales dropped sharply, the private sector HOPE NOW alliance has reported.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/30/2009 - 12:50am
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."
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/30/2009 - 12:09am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/29/2009 - 12:49am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/29/2009 - 12:04am
Mortgage applications dropped sharply in the week ending April 24, ending what had been a series of steady increases over the past two months.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/28/2009 - 12:40am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/27/2009 - 12:49am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/27/2009 - 12:15am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/24/2009 - 12:56am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/24/2009 - 12:16am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/23/2009 - 12:03am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/22/2009 - 12:56am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/22/2009 - 12:07am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/21/2009 - 12:41am
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).
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/21/2009 - 12:00am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/20/2009 - 12:24am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/17/2009 - 12:00am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/17/2009 - 12:56am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/16/2009 - 12:49am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/16/2009 - 12:18am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/15/2009 - 12:05am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/15/2009 - 12:58am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/14/2009 - 12:38am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/14/2009 - 12:08am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/13/2009 - 12:55am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/13/2009 - 12:03am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/10/2009 - 12:25am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/10/2009 - 12:16am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/09/2009 - 12:28am
Mortgage rates rose slightly in the past week, the first increase after four weeks of declines that saw rates reach record lows.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/08/2009 - 12:21am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/08/2009 - 12:06am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/07/2009 - 12:54am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/07/2009 - 12:03am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/06/2009 - 12:05am
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.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/03/2009 - 12:16am
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
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/03/2009 - 12:55am
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?
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- By:
- Kirk Haverkamp - MortgageLoan.com | 04/02/2009 - 12:03am
Pending home sales rose unexpectedly in February, (NAR), a possible indication that the depressed housing market may finally be bottoming out.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/30/2009 - 12:01am
Wouldn't it be nice to buy a home without having to make mortgage payments?
Senior citizens can now do just that, thanks to a new wrinkle in federal housing law that allows them to purchase a new home using a reverse mortgage. Qualified buyers who can put up a substantial portion down payment can finance the rest using a reverse mortgage, and live mortgage-free the rest of their lives.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/28/2009 - 1:53am
Foreclosure avoidance scams are on the rise. As more and more homeowners experience financial difficulties and fall behind on their mortgages, they become the targets of an army of con artists who seek to fleece them out of their money and even their actual homes in return for a promise of assistance
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/26/2009 - 1:58am
Mortgage rates hit their lowest point in half a century this week, following last week's announcement by the Federal Reserve that it would buy up more than a $1 trillion in Treasury debt and mortgage-backed securities to help free up credit.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/26/2009 - 1:07am
The Mortgage Bankers Association (MBA) is calling on Congress to adopt new legislation to establish uniform regulation of the industry nationwide and establish a new framework to protect borrowers.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/25/2009 - 1:26am
At a time when most mortgage lenders are tightening up credit and cutting back on loans, at least one part of the industry is showing remarkable growth - credit unions.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/25/2009 - 1:12am
Sales of new, single-family homes rose unexpectedly in February, according to figures released Wednesday morning by the Commerce Department. Coming on the heels of a reported similar increase in sales of existing homes, it's the latest in a number of recent indicators that the ongoing recession may be starting to loosen its grip.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/24/2009 - 1:59am
The Mortgage Bankers Association (MBA) has sharply increased its prediction of the volume of mortgages that will originate this year, increasing its 2009 forecast by 800 billion, a 67 percent increase over previous estimates.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/24/2009 - 1:35am
Taking a page from the 1930s, the Obama administration is calling for a new authority, modeled after the FDIC, to allow the government to restructure failed large financial institutions in much the same way the FDIC is able to restructure failed banks.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/23/2009 - 1:59am
Stocks rose sharply at Monday's opening, following Treasury Secretary Paul Geithner's announcement of a plan to generate up to $1 trillion in public and private funds to buy up distressed bank assets and related securities to get the economy moving again.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/20/2009 - 1:59am
In the current economic downturn, financially stressed homeowners are becoming increasing desperate to do what they can to avoid foreclosure. At the same time, others whose finances are secure may be looking at falling home prices and historically low interest rates and thinking that now would be a good time to buy their first home, if they could only put up enough for the down payment.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/19/2009 - 1:31am
The Federal Reserve's aggressive action on Wednesday to buy up Treasury bonds and mortgage-backed securities is designed to jolt the economy out of its doldrums, but at a potentially high price - the risk of triggering rapid inflation.
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- By:
- Kirk Haverkamp - MortgageLoan.com | 03/19/2009 - 1:21am
Borrowers who would like to refinance their homes but aren't sure if they have a Fannie Mae or Freddie Mac mortgage needed to qualify for the government's new Making Home Affordable mortgage relief program now have an easy way to get their answer.
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- By:
- Bill Rice - MortgageLoan.com | 03/18/2009 - 1:46am
What will be the Federal Reserve's next move? Bernanke and the Federal Open Market Committee wrap up a two day meeting this afternoon. Faced with an economy that continues to post negative results and interest rates effectively at zero, theFOMC will need to rely on more creative moves to revive the economy.
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- By:
- Bill Rice - MortgageLoan.com | 03/17/2009 - 1:04am
Embedded in President Barack Obama's budget is an attack on something as American as baseball and apple pie--the mortgage-interest deduction. "Buy a home and get a tax break" is practically a national anthem in the US.
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- Bill Rice - MortgageLoan.com | 03/16/2009 - 1:30am
In an interview straight out of President Obama's media playbook, Federal Reserve Chairman Ben Bernanke takes his case straight to the American people on "60 Minutes." A case that is sure to require more of the taxpayer's money to achieve what he claims is a fundamental underpinning to economic recovery--stabilizing the US banking system.
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- By:
- Bill Rice - MortgageLoan.com | 03/10/2009 - 1:42am
Taking to the Opinion section of the Wall Street Journal this morning, Kenneth Lewis calls for clear facts and undistorted information to guide debate on the path to recovery. His op-ed argues that the crisis is increasing fueled by misinformation that stifles options and confidence to recover our economy.
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- By:
- Bill Rice - MortgageLoan.com | 03/06/2009 - 1:55am
A controversial bill that would allow loan modifications by Federal judges, forcing banks to reduce the payments of borrowers in bankruptcy got one step closer to becoming a law. The so called mortgage "cram-down" law passed in the House of Representatives yesterday 234-191 and heads to the Senate.
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- By:
- Bill Rice - MortgageLoan.com | 03/05/2009 - 1:27am
Recent mortgage industry data reports are showing that the mortgage crisis continues to alarming deepen despite a variety of government assistance programs and capital. One of the major contributors in the expansion of job loss to multiple sectors and an increasing number of States.
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- By:
- Bill Rice - MortgageLoan.com | 03/02/2009 - 1:44am
President Obama's recent budget proposal may wipe out your mortgage deduction. Is this the right time to cut incentives to homeownership? The housing industry, at record lows and bulging with home inventory, is loudly protesting.
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- By:
- Bill Rice - MortgageLoan.com | 02/27/2009 - 1:07am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/26/2009 - 1:53am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/25/2009 - 1:40am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/24/2009 - 1:52am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/23/2009 - 1:32am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/19/2009 - 1:26am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/18/2009 - 1:43am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/17/2009 - 1:27am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/13/2009 - 1:48am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/12/2009 - 1:56am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/11/2009 - 1:02am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/10/2009 - 1:23am
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.
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- By:
- Bill Rice - MortgageLoan.com | 02/09/2009 - 1:05am
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."
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- By:
- Bill Rice - MortgageLoan.com | 02/06/2009 - 1:51am
Fannie Mae has posted new guidelines for approving homeowners attempting to lower their loan payments with a mortgage refinance.
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- By:
- Bill Rice - MortgageLoan.com | 02/05/2009 - 1:50am
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).
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- By:
- Bill Rice - MortgageLoan.com | 02/02/2009 - 1:02am
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.
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- Bill Rice - MortgageLoan.com | 01/29/2009 - 1:25am
The new Obama administration gets a first legislative victory with the easy passage of his $819 billion economic stimulus package. However, several questions and controversies plague the bills entry into the Senate. Is it spending the right areas? Will the effects be fast enough? Is that pork I see? Where did Obama's scalpel go?
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- Bill Rice - MortgageLoan.com | 01/28/2009 - 1:14am
Lawmakers and Wall Street are buzzing about the prospect of a "bad bank." This plan would create an aggregator bank to acquire, rewrite, and liquidate these troubled mortgages. Sources indicate that the Obama administration is behind the proposal and the FDIC is lobbying to manage the operation.
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- Bill Rice - MortgageLoan.com | 01/27/2009 - 1:07am
Just days after Freddie Mac announced a need for $35 billion, Fannie Mae says it needs $16 billion in federal aid. Continued deterioration in mortgage assets have now driven these enterprises net worth below zero in the last quarter, according to recent securities filings.
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- Bill Rice - MortgageLoan.com | 01/26/2009 - 1:52am
The financial sector may be getting new oversight that makes Sarbanes-Oxley look like a light administrative task. Congress is moving aggressively to bring a new regulatory structure over the entire US financial system, most probably concentrated within the Federal Reserve.
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- Bill Rice - MortgageLoan.com | 01/21/2009 - 1:17am
While President Barack Obama was being sworn in, Wall Street was free falling. Bank stocks continue to inject fear into the market as toxic mortgage assets continue to force large write downs and stockpiling capital into reserve provisions.
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- Bill Rice - MortgageLoan.com | 01/20/2009 - 1:20am
Warren Buffett called it an "economic Pearl Harbor." Even the best economists concede they were hit with little warning of the economic sneak attack, ensuing from the mortgage meltdown. All early indications are that Barack Obama, only hours away from being the 44th president, approaches this crisis with the same weight.
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- Bill Rice - MortgageLoan.com | 01/15/2009 - 1:54am
Two of the Federal Reserves top officials advocated a refocusing on ridding bank balance sheets of toxic mortgage assets. In recent statements, both Federal Reserve Chairman Ben Bernanke and Vice Chairman Donald Kohn highlighted the adverse effects these illiquid mortgage assets are having on the proper functioning of financial institutions and credit markets.
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- Bill Rice - MortgageLoan.com | 01/14/2009 - 1:30am
Another government supported mortgage mortgage agency is in trouble. The Federal Home Loan Bank (FHLB) of Seattle joins the San Francisco FHLB in announcing steps to shore up their capital reserves against toxic residential mortgage assets.
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- Bill Rice - MortgageLoan.com | 01/12/2009 - 1:05am
While the TV talking heads continue to despair about a failing economy, home buyers can grab a great deal on a new home.
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- Bill Rice - MortgageLoan.com | 01/08/2009 - 1:08am
In a Wednesday statement, outgoing US Treasury Secretary Henry Paulson pointed to President-elect Barack Obama as the "decision maker" for the allocation of the balance of $700 billion in TARP bailout funds.
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- By:
- Bill Rice - MortgageLoan.com | 01/05/2009 - 1:38am
In a mortgage market clamoring for good news, homeowners and investors get a couple of silver linings to kick off 2009.
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- By:
- Bill Rice - MortgageLoan.com | 01/01/2009 - 1:39am
In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a year of recovery. Is there reason for hope?
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