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Articles by Kyle Chezum

Buying a Home - Things to Consider
Securing the right home mortgage loan involves the consideration of many factors, several of which are mentioned below:. Down Payments + PrincipalDown payments represent the amount of cash investment that you have available to put towards the purchase price of a home, not...
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ContentMust be "original" content written by you or the specified author (if you are submitting this article on behalf of another person).Must be relevant to the Subject Category under which the article is submitted.Must be informative to the reader and not submitted with...
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Increase online exposure.When you submit your article to Lender411.com, your article is being published on one of the most prominent financial and real estate websites on the internet. If your article is approved, not only do we publish your article on our homepage, we...
Blog Review for www.stpaulrealestateblog.com
Reviewed by Kyle Chezum. 09/09/10. . Teresa Boardman is a licensed Realtor in Saint Paul, Minnesota.  Her blog, which covers Saint Paul real estate, is one of the best we've seen on the topic.  Her style is both professional and open, informational and informal,...
Blog Review for
Reviewed by Kyle Chezum. 09/14/10. . Jim Duncan is a Realtor who operates primarily in the city of Charlottesville, VA.  He writes a blog that covers topics related to the local real estate market as well as macroeconomic trends.  His blog is one of the best we've...
Blog Review for
Reviewed by Kyle Chezum. 09/14/10. . Vincent Bindi is a real estate broker in Orange County, CA.  He runs a blog that provides detailed information relevant to the Southern California real estate market.  There are numerous blogs on this subject, but Vincent's...
Blog Review for
Phyllis Harb is a Realtor in the Los Angeles area of Southern California.  She writes and operates a blog that covers topics related to the local real estate market.  And it's a joy to read.  Market statistics, personal experiences, transaction details,...
Blog Review for
Reviewed by Kyle Chezum. 09/14/10. . Endless market reports, accurate statistics, and thoughtful analysis.  This describes the majority of what Alex Wang, founder and Broker of Rainmaker Properties in the Silicon Valley area of California, provides the readers of his...
Blog Review for www. twincitiesrealestateblog.com
Reviewed by Kyle Chezum. 09/14/10. . "Professional" is the best word to describe Aaron Dickinson, the Minnesota real estate agent who operates www.twincitiesrealestateblog.com.  Not only is he an active real estate agent, he's been named a Real Estate...
Blog Review for www.tampa-real-estate-blog.com
Reviewed by Kyle Chezum. 09/14/10. . The Lipply real estate team operates in and around the Tampa area of Florida.  They also operate a blog that covers topics related to real estate in the local marketplace.  This blog is how we found them.  And we're very glad...
Blog Review for
Reviewed by Kyle Chezum. 09/16/10. . The Sacramento-Home blog is a resource for potential homebuyers and current residents in the Sacramento, CA, area.  It is operated by local Realtors John Lockwood and Purva Brown.  We haven't seen any better blogs on the...
Blog Review for
Reviewed by Kyle Chezum. 09/16/10. . Richard Bolen is a real estate agent who operates a blog focused on the housing market in the South Lake Tahoe, CA, area.  His blog covers topics related to market news, local conditions, macroeconomic trends, and more, and it's the...
Blog Review for
Reviewed by Kyle Chezum. 09/16/10. . Chris Brown is a Home Finance Advisor in the Lake Mary area of Florida, near Orlando.  He operates a blog that covers topics related to local real estate trends, mortgage rates, macroeconomic news, and the home purchase process. ...
Blog Review for
Reviewed by Kyle Chezum. 09/16/10. . Todd Abelson and Tyler Ford, are mortgage lenders located in Tucson, AZ.  In addition to their mortgage business, however, they operate a blog that covers topics related to real estate, home buying, financial news, and the mortgage...
Blog Review for
Reviewed by Kyle Chezum. 09/16/10. . Sylvia and Steve Crossland are possibly the most experienced, educated, and knowledgeable Realtors in the Austin, TX, area.  Skim the "About Us" page on their blog and your jaw will drop.  They've both been heavily...
Blog Review for
Reviewed by Kyle Chezum. 09/21/10. . Toby Barnett is a Realtor who works in the Snohomish County area of Washington state.  He also operates an informational blog that covers topics related to the local real estate industry.  It's a valuable resource, and one of...
Blog Review for
Reviewed by Kyle Chezum. 09/21/10. . Guy Johnson, MBA, is a Realtor who works around the Reno, NV, area.  Formerly a business owner, Guy brings to his real estate career a strong analytical mind and a highly focused attention to customer service and satisfaction.  He is...
Blog Review for
Reviewed by Kyle Chezum. 09/21/10. . Brian Block, Esq., is a Realtor who works in and around the Northern Virginia and Washington D.C. areas.  He operates a blog that provides local real estate news and information as well as advice and other resources to potential homebuyers...
Blog Review for
If you want to learn about the real estate market in the Marin County area of California, local real estate professional Mark Lomas has been in the industry for over 20 years.  He operates a blog that covers all aspects of the Marin real estate scene.  We checked it out...
Blog Review for
Reviewed by Kyle Chezum. 10/06/10. . Jerold and Terry Smith are Realtors in the northern Dallas area of Texas.  They operate their own brokerage, Smith & Smith Realty, and are active in the local community where they support a music group and run fundraisers for breast...
Blog Review for Danny Nappi
Reviewed by Kyle Chezum. 10/14/10. . Danny Nappi is a Realtor in the Tampa area of FL and has been for years.  He operates a blog that covers the local real estate market, and on the surface, his blog may seem like many other professional blogs in the area.  It's clean,...
Blog Review for Kris Waless
Reviewed by Kyle Chezum. 10/14/10. . Kris Wales is a real estate agent in Macomb County, Michigan.  She represents buyers and sellers all across the greater Detroit metropolitan area.  She writes a blog that covers topics relevant to the local real estate market,...
Blog Review for
Reviewed by Kyle Chezum. 10/14/10. . DJ Morris is a Realtor in the Jupiter area of Florida.  He operates a blog that covers real estate trends in the local marketplace.. DJ's site is extensive, and his blog is only a small part of a much greater whole.  On his About page,...
Blog Review for Teri Eckholm
Reviewed by Kyle Chezum. 10/15/10. . Teri Eckholm is a Realtor who operates in the Northern Minneapolis suburban area, around Blaine and the Forest Lake school district.  She writes a blog centered on the local real estate market that covers subjects such as home prices,...
Blog Review for
Reviewed by Kyle Chezum. 10/15/10. . Jolenta Averill is a Realtor who lives and works in the Madison area of Wisconsin.  She operates a blog as an extension of her brokerage, and in her blog, she writes about subjects relevant to the local Madison real estate market. ...
Blog Review for T.D. Smith
T.D. Smith and Chris Sommers operate a blog that covers subjects relevant to the local real estate market in Telluride, CO, and they are among the most well qualified real estate professionals in the area.  T.D. Smith has been involved in the Telluride real estate...
Blog Review for Lauderdale-blog.com
Reviewed by Kyle Chezum. 10/18/10. . Marina Sarabia and Kathleen Costanzo are real estate professionals who live and work in the area of Fort Lauderdale, FL.  They operate a website and a blog that cover topics related to the local real estate market, and their blog is one of...
Blog Review
Reviewed by Kyle Chezum. 10/18/10. . Jackie Colson-Miller is a real estate professional in the Tampa area of Florida.  She writes a blog that covers industry topics, such as market data and economic trends, as well as local information such as school districts and popular...
Blog Review
Reviewed by Kyle Chezum. 10/18/10. . Lance Mohr is a real estate professional who lives and works in the Tampa area of Florida.  He works alongside his wife, Natasha, and together they run a blog that covers topics relevant to the Tampa real estate market.  Their blog is...

Sheriff Thomas J. Dart, of Cook County, IL, has informed several major banks and mortgage providers that he will not evict homeowners from foreclosed homes until sufficient proof of foreclosure has been provided.  This follows recent claims made by public advocates...

Bank of America is picking up where it left off today with tens of thousands of home foreclosures in spite of public outcry and claims of fraudulent activity within the bank's mortgage department.  Bank of America has been accused of using incorrect or improper...

When wrongful evictions take place, the evicted homeowners may find themselves out of luck if new owners have already purchased the foreclosed home.  Reverse rulings on some foreclosed properties have transferred titles back to the original residents of those...

Mortgage rates have fallen steadily for six weeks in a row, and have dropped to levels unseen since early in the year when the Fed purchased $300 billion in Treasury bonds.  Many homeowners have taken advantage of these low rates by refinancing.  Experts predict...

As the Winston-Salem region of North Carolina reels under the weight of numerous foreclosures, the Treasury has made funds available to the state's Foreclosure Prevention Program to help homeowners get back on their feet.  The Foreclosure Prevention Program...

Numerous prosecutors have already made claims against certain banks, most notably Bank of America, regarding fraudulent foreclosures.  But with a new federal investigation now underway, and banks may be in a heap of trouble.  Investors already want to hold...

Large investors have begun to demand that certain major mortgage originators repurchase bonds due to improper processing.  The New York Federal Reserve has put pressure on Bank of America and other banks in the wake of claims that some foreclosures and evictions have...
Blog Review for
Reviewed by Kyle Chezum. 10/20/10. . By the Sea Realty, a brokerage in the Fort Lauderdale area of Florida, hosts a unique and interesting blog that covers topics related to the local real estate market.  Led by managing partner Rich Barnhart, the By the Sea Realty team...

Claims for state unemployment benefits dropped this past week, but the decrease was unremarkable.  The number of claims rested around 452,000 This comes on the heels of a quarterly low of 445,000 that was hit in early October, after which claims increased once again...

In order to stay afloat through the year 2013 and turn out positive results, Fannie Mae and Freddie Mac, the two government-controlled home loan institutions, may require up to $215 billion in support from the Treasury.  The housing programs may need as much as $363...
Blog Review for
Reviewed by Kyle Chezum. 10/21/10. . Irina Netchaev is a broker who lives and works in the Pasadena area of California.  She operates numerous websites and is one of the most tech savvy real estate professionals we've reviewed.  Her primary blog, www...
Blog Review for
Reviewed by Kyle Chezum. 10/21/10.                               . Zachary Epps is a real estate...
Blog Review: Colorado Springs Vintage Homes
                              . Kathy Torline is a real estate professional who lives and works in...
Blog Review for
Reviewed by Kyle Chezum. 10/21/10. . Scott Ficek is a real estate who lives and works in the Minneapolis area of Minnesota.  He is one of the top producing agents at his brokerage, and is an avid property investor and landlord.  His experience as a real estate...

In the midst of suspicion over erroneous foreclosures, large banks such as Bank of America may face more serious trouble from investors and the Securities and Exchange Commission.  Some investors argue that banks have misrepresented facts and failed to disclose full...

Fannie Mae and Freddie Mac this past week refused to submit referrals to law firm David J. Stern PA, a Florida company that specializes in mortgages and foreclosures.  The firm is under heavy suspicion for improper management of foreclosure cases.  A witness from...

As banks suffer from buybacks and litigation over improper paperwork filed in foreclosure cases, bad loans may begin to stack up on bank balance sheets.  This will likely slow lending rates at most banks caught in the foreclosure mess, which could lead to a mortgage...

Fannie Mae and Freddie Mac are moving much of their loan modification work to smaller firms as legal tensions with major banks grow in the wake of foreclosure fraud litigation.  Servicing transfers on such a large scale will cost banks some profit but will likely save...
Loan Modifications Difficult to Secure Despite Foreclosure Moratoriums
As banks wrestle with the public, the law, and the federal government over claims of fraudulent foreclosure and wrongful evictions, it might be expected that mortgage loan modifications would increase as banks try to recoup as much money as possible.  This has not been...
Analysis Shows Large Banks Fraught with Mortgage Risk
Bank of America has received a lot of attention lately over claims that the mortgage originator has acted fraudulently toward delinquent borrowers by foreclosing properties without accurate documentation.  This has prompted legal action at state and federal...
Blog Review for GuideMeHome2Nashville.com
Reviewed by Kyle Chezum. 10/26/10. . The Bob Parks Realty team in Nashville, Tennessee, operates a blog that covers topics relevant to the real estate marketplace and the local area.  Jody Stahly writes many of the posts, but other members of the team contribute often as...
Blog Review for
Reviewed by Kyle Chezum. 10/26/10. . Karen Rhodes is a real estate broker who lives and works in the Chattanooga area of Tennessee.  She writes and updates a blog that covers the local real estate market.. Karen writes extensively of the local area and the benefits of living in...
Blog Review for
Reviewed by Kyle Chezum. 10/27/10. . Tre Pryor is a real estate professional who lives and works in the Louisville area of Kentucky.  In conjunction with his real estate career, Tre operates a blog that covers topics related to the local Louisville real estate marketplace...
Mortgage Application Rate Surges in U.S.
10/27/2010. According to the Mortgage Bankers Association's index, the number of home purchase mortgage applications increased 3.9% this past week.  The number of refinance applications increased 3%.  This is a significant improvement over the previous...
Housing Commissioner Urges Banks to Give Aid to Struggling Borrowers
10/27/2010. Federal Housing Administration Commissioner David Stevens has urged banks to help struggling borrowers rather than pushing foreclosure in every case, for the sole purpose of rebuilding public faith in the mortgage industry.  In the wake of mass...
Blog Review for
Reviewed by Kyle Chezum. 10/27/10. . Christine McInerney and Jennifer Halinkowski are real estate professionals who live and work in the Knoxville area of Tennessee.  Christine operates a blog, knoxvillehomeexpert.com, that covers topics related to real estate and...
More Americans Worried About Making Mortgage Payments Now Than Ever
10/28/2010. A poll conducted by the Washington Post has shown that a majority of Americans are concerned about their ability to make their mortgage payments in the coming years.  The majority is small.  But 53% of those polled ranked themselves as "very...
Wells Fargo Admits to Flaws in Thousands of Foreclosure Documents
10/28/2010. Wells Fargo plans to file 55,000 foreclosure cases over again after detecting paperwork errors.  The errors have to do with the final review process for specific documents.. “The issues the company has identified do not relate in any way to the quality...
Arizona Lender Sued for Issuing Adjustable Rate Loans Without Highlighting Risks
11/01/2010. Arizona lender Home Loan Center, Inc., has settled with Arizona Attorney General Terry Goddard for $1.15 million over alleged false advertising.  According to Goddard, Home Loan Center falsely represented payment option adjustable rate mortgage loans to...
Foreclosure Halt May Spark Minor Economic Stimulus as Homeowners Live for Free
11/01/2010. There's no doubt that the recent foreclosure fraud allegations will cost banks and investors a significant amount of money.  But homeowners who are halfway through the foreclosure process and aren't making mortgage payments will benefit from...
Review: Knoxville Tennessee Real Estate Blog
Jim Lee is a real estate professional who lives and works in the Knoxville area of Tennessee.  He operates a blog, the appropriately named KnoxvilleTennesseeRealEstateBlog.com, where he writes about topics relevant to the local real estate marketplace.. He provides a...
Courts See Fewer Foreclosures as Borrowers Seek Legal Counsel
11/02/2010. Chief Judge Victor Tobin of Florida has seen daily foreclosure cases drop from 200 to 50 in the past month, and cases that are filed include additional protective legal clauses.  Media hype surrounding suspected foreclosure fraud has inspired more and more...
Countrywide May End Up in Bankruptcy
11/02/2010. Bank of America's Countrywide unit, which originated 85% of the bank's current bad loans, may opt for bankruptcy as a way out of the mess, claims stock analyst Mike Mayo of CLSA.  Countrywide, though it was acquired by Bank of America, "remains...
Blog Review for
Reviewed by Kyle Chezum. 11/02/10. . Jodi Summers is a real estate professional who lives and works in the Santa Monica area of greater Los Angeles, CA.  She deals primarily with investment real estate and industrial or commercial properties.  She operates several...
Blog Review for
Reviewed by Kyle Chezum. 11/02/10. . Kristal Kraft is a real estate professional who lives and works in the Denver area of Colorado.  She writes a blog that covers topics related to the local real estate marketplace, including homebuyer advice, market statistics,...
Blog Review for Kim Soper
Kim Soper is a real estate professional with a strong history of success who lives and works in the Lexington area of Kentucky.  She operates a blog that covers the local real estate marketplace as well as local news, events, and other useful topics.  Her blog stands...
Refinance Demand Sees Sudden Decrease in Final Week of October
11/03/2010. Home purchase mortgage application rates have wavered along a downward trend over recent weeks due to low employment and consumer caution, but a recent decrease in refinance mortgage applications came as a bit of a surprise.  The Mortgage Bankers...
Freddie Mac Posts $4.1 Billion Third Quarter Net Loss
11/03/2010. Freddie Mac reported on Wednesday that it saw a third quarter net loss of $4.1 billion and would need to draw additional funding from the Treasury to stay positive.  Freddie Mac Chief Executive Charles Haldeman called the housing market "fragile...
Unemployment Claims on the Rise Again Despite Decrease in Unit Labor Costs
11/04/2010. Unit labor costs saw a decrease in the third quarter, but unemployment benefits claims spiked unexpectedly.  Claims increased to 457,000 total.  Analysts had forecast an increase only to about 443,000, making the spike significant but not massive.....
J.P. Morgan Implements New Processes, Resumes Foreclosures
11/04/2010. J.P. Morgan retail financial services Chief Executive Officer Charlie Scharf stated that the bank will resume processing foreclosure sometime in the next few weeks.  J.P Morgan had put foreclosures on hold in 40 states after uncovering potential errors in...
Bank of America First Mortgage Originations Decrease 24% in Third Quarter Over Previous Year
11/04/2010. Bank of American saw its rate of first mortgage originations decrease 24.7% in the third quarter over the previous year's rate.  The bank did only $73 billion in first mortgage business this quarter, down from $95.7 billion in the same quarter last year...
Citigroup Faces Lawsuits from Unhappy Investors
11/05/2010. Citigroup, INC., is facing lawsuits from several of its own investors, including Charles Schwab Corp. and Cambridge Place Investment Management.  These lawsuits and others have been active since July.  Citigroup made the Securities and Exchange...
Bank of America Fights Back Against Putback Demands
11/05/2010. Bank of America CEO Brian Moynihan fought back against mortgage putback demands in a recent conference call with investors.  Bank of America is taking a stance in defiance of claims made by investors that the bank owes them for more than $47 billion in...
Blog Review for
Reviewed by Kyle Chezum. 11/05/10. . Maureen McCabe is a real estate agent in the Columbus area of Ohio.  She works with Real Living HER, which she describes as "the best real estate company in Columbus Ohio."  Maureen writes a highly acclaimed blog that...
Florida Homeowners Take on Second Mortgages to Pay Legal Fees
11/08/2010. Florida has seen more than its fair share of foreclosures during this downturn.  But in the wake of the highly publicized bank error cases, homeowners have begun to feel more and more suspicious about foreclosure filings and have taken on legal defense...
Mortgage Delinquencies Rise in Third Quarter
11/08/2010. New foreclosure filings decreased in the third quarter, but 2.7% of current mortgages went delinquent, studies show.  This shows an increase over the 2.6% that went delinquent during the second quarter, and it's the first time the delinquency rate has...
J.P. Morgan Chase Faces New Foreclosure Fraud Lawsuits
11/09/2010. J.P. Morgan Chase halted many home seizures and foreclosure filings in September after suspecting that some of their documents were flawed.  But the bank stated last week that it plans to continue foreclosing on homes, and this week it faces two class action...
Banks Brace for Foreclosure and Investment Lawsuits
11/09/2010. Citigroup, Bank of America, Wells Fargo, and now J.P. Morgan face numerous lawsuits each over claims of foreclosure fraud and improper filing of mortgage backed securities.  The lawsuits demand hundreds of billions of dollars collectively as recompense...
More Banks Facing Mortgage Foreclosure Lawsuits
11/10/2010. It's a never ending struggle, it seems.  More and more banks are facing lawsuits over improper foreclosure activities, with PNC Financial Services and Ally Financial joining Bank of America, Wells Fargo, J.P. Morgan Chase, and others this week in the...
Mortgage Applications Increase as Interest Rates Stay Low
11/10/2010. Both home purchase mortgage application rates and refinance application rates shot up this past week, the Mortgage Bankers Association revealed.  Home purchase applications increased by about 5.8% while refinance applications increased by 6%. ...
DreamHomeCompany.com/Blog
Reviewed by Kyle Chezum. 11/10/10. . David Meek is a real estate broker who lives and works in the Indianapolis area of Indiana.  He writes a blog that covers topics relevant to real estate in Indianapolis, and he discusses a wide range of subjects and points of interest...

Reviewed by Kyle Chezum. 11/10/10. . Cindy Marchant is a highly acclaimed real estate professional who lives and works in the Indianapolis area of Indiana.  She has had remarkable success matching homebuyers with properties throughout her career and she states that her...
Blog Review for
Reviewed by Kyle Chezum. 11/10/10. . Joe Spake is a highly active real estate professional who lives and works in the Memphis area of Tennessee.  He is an avid user of social media and internet marketing techniques and operates several websites, including a blog that covers...
C
Reviewed by Kyle Chezum. 11/11/10. . Jason Opland is a broker and real estate professional in the Columbus, Ohio, area.  He is a Columbus native who loves his city and has made it his mission to inform potential homebuyers and residents of the benefits and opportunities that...
JoeHaydenRealtor.com
Reviewed by Kyle Chezum. 11/10/10.           . Joe Hayden is a real estate agent and Realtor who lives and works in the Louisville area of Kentucky.  He runs a unique personal website that provides informational tools...
Lenders Willing to Lend, but Borrowers Still Gripped by Market Uncertainty
11/11/2010. We've all heard that's it's harder than ever to get a loan these days.  But many lenders are actually more than willing to originate loans, provided borrowers are willing to trust them and provide all necessary documentation and paperwork.....
Bank of America Strikes Back With Own Lawsuit
11/11/2010. Bank of America filed a lawsuit this past week against mortgage insurance company Old Republic over findings that the insurance company has denied claims.  Bank of America had insured nearly $2.2 billion with Old Republic and began submitting claims in late...
Commercial Lending On the Rise
11/12/2010. Commercial property lending saw a huge decrease during the start of the economic downturn, but it may be poised to recover faster than the residential mortgage market.  In the previous quarter, commercial property lending increased almost 30% percent and...
Obama Appoints New Leadership for FHFA
11/12/2010. According to an administration official, President Obama has appointed North Carolina banks commissioner Joseph Smith to lead the Federal Housing Finance Agency.  This is no small task considering the state Fannie and Freddie are in.. Both Fannie and...
Mortgage Rates Set to Increase as Bond Yields Rise
11/15/2010. Yields on mortgage-backed securities issued by Fannie Mae and Freddie Mac climbed to a four-month high this morning, raising the possibility that mortgage rates may increase as a result.  Current-coupon 30-year fixed-rate mortgage bonds increased...
Lenders Face Congressional Hearings Over Foreclosure Fraud
11/15/2010. Many major banks are already facing serious lawsuits over erroneous foreclosure documentation.  Congress plans to hold two hearings this week with the goal of convicting banks, one way or another, to slow foreclosures and pursue loan modifications in...
GrantHammond.com
Reviewed by Kyle Chezum. 11/15/10. . Grant Hammond is a real estate broker and entrepreneur who lives and works in the Nashville area of Tennessee.  He's an industry leader in the purest sense of the word.  Grant's website, a blog located at GrantHammond.com,...

Reviewed by Kyle Chezum. 11/15/10. . Jeff Schoenfield is a real estate professional who, along with his wife, Karen, runs a RE/MAX brokerage franchise in Gatlinburg, Tennessee.  He also operates a blog that covers topics relevant to the local real estate marketplace,...
Bank of America CEO Ready for a Fight
11/16/2010. Bank of America Corp. Chief Executive Officer Brian T. Moynihan described continued investor demands for refunds on faulty mortgages “day-to-day, hand-to-hand combat.”  Tensions between Bank of America and investors who purchased...
Congressional Oversight Panel Offers Best and Worst Case Scenarios for Banks
11/16/2010. The Congressional Oversight Panel that oversaw the Wall Street bailout warned that foreclosure documentation errors made by lenders could lead to significant legal action and heavy losses in the housing industry.  Banks have already received billions...
ClevelandRealtyBlog.com
Reviewed by Kyle Chezum. 11/16/10. . Svetlana Stolyarova is a real estate broker who lives and works in the Cleveland area of Ohio.  She runs her own brokerage, Local-N-Global Realty, and operates a blog that covers the local real estate marketplace.. Svetlana offers a great...
J.P. Morgan Chase: “Foreclosure is the Last Resort”
11/17/2010. J.P. Morgan Chase Co. Chief Financial Officer Doug Braunstein gave an update on the bank’s investigation into potentially errant foreclosures.  Though Chase has instituted a foreclosure moratorium, the bank continues to insist that none of its...
Mortgage Application Rate Hits 4-Month Low
11/17/2010. As expected, mortgage rates spiked this past week as bond yields rose, leading to a decrease in new mortgage applications.  The current application rate rests now at a four-month low after a drop of over 14% from the week prior.. Borrowing costs on 30-year...
Bank of America Loan Modifications Increase 51% in October
11/18/2010. Bank of America modified the mortgages of about 25,000 homeowners in October, a significantly higher number than the 16,500 mortgages it modified in September.  Bank of America has come under fire for its readiness to foreclosure rather than offer...
Mortgage Delinquencies and Foreclosures Decrease
11/18/2010. Delinquencies and foreclosures decreased in the third quarter and the total number of homes either delinquent or in the foreclosure process hovered at 13.8%, down from 14.4% a year ago.  The number of serious delinquencies dropped to its lowest level since...
Florida Leads Nation in Mortgage Delinquencies
11/19/2010. Florida leads the nation in mortgage delinquencies, with nearly 11% of all mortgages delinquent.  This is a significant total number of delinquent mortgages, considering nearly 3.2 million mortgages have been serviced in the state.  A majority of the...
Fannie Mae Says Housing Downturn at an End
11/19/2010. Fannie Mae’s Economics and Mortgage Market Analysis Group casts the future of the housing industry in a positive light.  “We expect home sales to increase by about 3 percent in 2011, says Fannie Mae (OTC BB: FNMA) chief economist Doug Duncan....
Employment Declines in Mortgage Industry
11/29/2010. In October 2005, over 500,000 people were employed in the mortgage industry.  Today, that number rests around 246,400.  The third quarter of 2010 saw a decrease in employment numbers due to the closure of Wells Fargo’s Financial Inc. division.....
Update on Mortgage Buybacks: Banks May Have to Pay $106 Billion
11/29/2010. Paul Miller of FBR Capital Markets, an industry analyst, estimates that banks such as J.P. Morgan Chase and Bank of America may end up shelling out up to $106 billion to pay for mortgage buybacks demanded by investment firms.  The number could come in as low as $54...
Frivolous Mortgage Putback Claims May Hamper Proceedings
11/30/2010. Investors demanding that banks buy back mortgages founded on faulty paperwork may be shooting themselves in the foot by exploiting paperwork errors.  In the wake of the foreclosure fraud scandal, some investors have made putback demands over minor...
Bank of America in Deeper Mess: Securities Trustees Never Received Notes
11/30/2010. According to Bank of America employee Linda DeMartini, a team leader in the company’s mortgage- litigation management division, Bank of America regularly kept the promissory notes attached to home loans that had been bundled into mortgage backed...
Major Banks Don’t Have Sufficient Reserves to Pay All Putbacks, Fed Says
12/01/2010. Federal Reserve governor Daniel Tarullo, who has been investigating mortgage putback claims levied against major banks, testified today that the banks at fault may not have sufficient reserves on hand to buy back mortgages.  The four largest banks...
Refinance Applications Decrease, Home Purchase Mortgage Applications Increase, Rates Climb
12/01/2010. The Mortgage Bankers Association (MBA) released a report today detailing mortgage application rate statistics for the week ending November 26th, 2010.  Interest rates increased to 4.56% from 4.50%, a season peak.  Rates have been gradually...
Banks Meet With SEC Regulators to Discuss Settlements
12/02/2010. Several major banks have met with regulators from the Securities and Exchange Commission to discuss settlements related to the mortgage backed securities mess that has stung many Wall Street entities in one way or another.  The talks are preliminary and...
Mortgage Rates Slip Upward for Third Straight Week
12/02/2010. According to a survey conducted by Freddie Mac, mortgage rates increased again this week for the third straight week in a row, hitting an average level of 4.46%.  Last month, rates touched a low point of 4.17% and have increased ever since.. The rise is tied to bond...
Small Lenders and Brokers May be Required to Check for Fraudulent Activity
12/06/2010. A new proposal may obligate independent lenders and mortgage brokers to submit reports to the Treasury Department when certain key indicators turn up that may signify fraud or money laundering.  These institutions would create anti-fraud programs and...
Freddie Mac Expects Housing Market to Rebound in 2011
12/06/2010. Freddie Mac chief economist Frank Nothaft said on Monday that he expects the housing market to experience a rebound in 2011.  The rebound will be linked to overall economic recovery, he says, as well as low mortgage rates and low home prices.  Home price...
Fannie Mae Reports Mortgage Delinquency Rate Down
12/07/2010. Fannie Mae recently released a report covering mortgage delinquencies in the month of October.  The rate of serious delinquencies has decreased over the past few months, and that trend is likely continue into the new year.. Serious delinquencies...
Mortgage Delinquency Rate May Decrease to 5% in 2011
12/07/2010. TransUnion LLC released a delinquency forecast for the coming year based on 27 million consumer records analyzed, and the news is good.  Delinquent mortgages as a percentage of all mortgages may drop to just 5% before 2012.  The current rate of...
Mortgage Rates Pull Upward, Again
12/08/2010. Mortgage rates rose last week and rest now at their highest point since July, a surprising 4.66%.  This is still incredibly low compared to rates in previous years, but it’s a sign that demand in the marketplace is increasing and that the housing market,...
Mortgage Application Rate Drops as Fewer Borrowers Refinance
12/08/2010. Mortgage rates have begun to increase again, reaching levels unseen since July of this year.  As a result, fewer borrowers are willing to refinance and the total mortgage application rate has decreased for the past four weeks straight.. New home purchase...
Fannie and Freddie Not Interested in Mortgage Modifications
12/09/2010. The Obama Administration has had a difficult time convincing Fannie Mae and Freddie Mac to modify the mortgages of homeowners who own more than their homes are worth.  The FHA short refinance program, introduced earlier this year, is meant to offer...
Higher Rates May Shut Out Some Homebuyers
12/09/2010. As mortgage rates increase, new home loans lose some of their value to lower income buyers.  While high rates are often a sign of market recovery, many potential buyers will continue sitting on the fence rather than leaping into the purchase pool. ...
Prudential Verani Realty
Reviewed by Kyle Chezum. 12/09/10. . Prudential Verani Realty, located in New Hampshire and Northern Massachusetts, is an excellent local resource for real estate advice and assistance.  Verani is a company with a long family history.  Osvaldo Verani started the...
John Herrigel - Maine Real Estate
Reviewed by Kyle Chezum. 12/09/10. . John Herrigel is a real estate broker who lives and work in Portland, Maine.  He makes his real estate expertise and professional services available through three blogs that he operates and writes for.  We’ve had the...
Investors Expect Economic Upswing, Ditch Treasury Bonds: Mortgage Rates Likely to Increase
12/10/2010. Mortgage rates hit historical lows this year as recently as October, but as investors dump Treasury bonds in anticipation of economic rejuvenation during the coming years, mortgage rates have begun to climb rapidly upward.  Rates have increased more than...
Rising Rates Might Show Fed Policy is Failing
12/10/2010. The Fed’s $600 billion purchase of Treasury bonds, called “quantitative easing,” was meant to keep mortgage rates low.  Instead, mortgage rates have risen steadily to a six-month high.  Critics are using this as evidence that the...
Banks Keeping “Skin in the Game” May Reduce Mortgage Availability
12/13/2010. Most major banks have faced at least criticism, if not major litigation, over the packaging of subprime loans into mortgage-backed-securities.  Now, policymakers are requiring that banks keep some skin in the game by retaining a certain amount of the risk...
Rising Mortgage Rates May Boost Home Sales
12/13/2010. Mortgage rates are rising, despite the Fed’s recent attempts to keep them low by purchasing $600 billion in Treasury bonds, and home sales are likely to increase in the short term as a result.  As more and more potential homebuyers see rates increase,...
Congressional Oversight Panel Slams HAMP
12/14/2010. The Congressional Oversight Panel claims that the US Treasury Department has done an ineffective job managing the Home Affordable Modification Program.  "If current trends hold, HAMP will prevent only 700,000 to 800,000 foreclosures -- far fewer...
Economic Data Points to Upbeat Economy, Treasury Bond Prices Drop
12/14/2010. Following the release of data that revealed a trend of economic acceleration in the previous quarter, investors have been moving funds out of safe Treasury bonds and into riskier assets such as stocks.  This has led to a drop in prices on Treasury bonds, and as...
Regulators Review Foreclosure Documents, Check for Errors
12/15/2010. At the urging of a group of House Representatives, bank regulators have begun reviewing foreclosure files at some major financial institutions to check for errors.  The audit is intended to shed light on accusations that foreclosure documents were...
Mortgage Fraud on the Rise: Banks Report 7% Increase in Fraudulent Activity
12/15/2010. As banks check old loans for errors, fraudulent mortgage activity may come to light at a faster rate than previously encountered.  The first half of 2010 brought on a 7% increase in reports of mortgage fraud from major banks.  Over 35,000 such reports...

Reviewed by Kyle Chezum. 12/15/10. . Sylvia Rogers is a real estate agent and blogger who has lived and worked in the Rochester area of Minnesota for over 25 years.  She runs a website, SylviaRogers.com, that serves as a place where local homebuyers and homeowners can turn for...

Reviewed by Kyle Chezum. 12/15/10. . Judy Greenberg is a real estate agent and web professional who lives and works in the Buffalo Grove, Long Grove, and Vernon Hills area of Illinois, near Chicago.  She maintains a strong web presence through her site and blog,...

Reviewed by Kyle Chezum. 12/15/10.                     . Karen Rice is a real estate agent and internet specialist who lives and works in the Wayne and Pike County...

Reviewed by Kyle Chezum,  12/15/10.           . The LandVest realty team runs an impressive website and blog focused on luxury real estate in the Northeastern corner of the United States.  They broker...
Mortgage Rates On The Rise For the 5th Straight Week
10/17/2010. For the 5th strait week mortgage rates have surged. Freddie Mac reports that the average thirty year fix mortgage has risen from 4.61 to 4.83 within the last week. Just last month we were seeing averages at record lows, around 4.15.. After falling for seven consecutive...
Study Shows Delinquent Borrowers May Continue Paying Second Mortgages
12/20/2010. A new study has shown that borrowers who default on their first mortgages may not necessarily default on second mortgages, especially if those second mortgages are home equity credit lines.  According to the study, one in five borrowers who go through...
Housing Market May Weigh Economy Down
12/20/2010. Housing figures may not improve as much as Wall Street banks are expecting they will.  Despite signs of improvement in the overall economy, rising mortgage rates may shut out a few too many potential homebuyers and stifle development in the housing market...
National Mortgage Servicing Standards Likely Under Dodd-Frank
12/21/2010. Policymakers, academics, and citizens alike are recommending that regulators draft a set of national mortgage servicing standards.  These official standards would ensure that the needs of borrowers are protected from unscrupulous or inefficient...
Wells Fargo Agrees to Modify $2.4 Billion of California Mortgages
12/21/2010. Wells Fargo, the fourth largest bank in the nation, has reached an agreement with California governor Jerry Brown to make $2.4 billion of mortgage modifications for California homeowners stuck in adjustable rate mortgages.  The bank has also agreed to...
How Will the Mortgage Market Look in 2011?
12/27/10  How will the mortgage marketplace look in 2011?  The first answer is that no one truly knows.  The marketplace has been volatile lately, with rising interest rates in spite of the Fed’s actions to keep them low.  But there are several...
Mortgage Rates Have Hit Bottom, Experts Say
12/27/10  . Mortgage rates hit a historic, 70 year low in 2010, but it looks as though the downward trend is over.  The past two months have seen a steady increase in mortgage rates, up from the lowest point of 4.17% to a current level of 4.83%.  HSH Associates,...
Ally Financial Pays $462 Million Settlement to Clear Liability
12/28/10  . Ally Financial, the lending institution previously known as GMAC, has agreed to pay $462 million to Fannie Mae.  Why?  According to Michael Carpenter, chief executive of Ally, the payment is intended to eliminate risk.  "At the...

Consumer Confidence Unclear, Reports Contradictory as Housing Prices Drop12/28/10  . A recent report showed that consumer confidence dropped unexpectedly in December, following a major dip in home prices in October that was nearly double the expected price...
Modifications Still Difficult to Obtain
12/29/10. Bruce Krueger, lead mortgage expert for the Office of the Comptroller, feels that the housing market will soon stabilize.  But mortgage modifications have grown increasingly more difficult to obtain.  The third quarter of 2010 saw a significant...

Allstate Sues Bank of America Over Mortgage Securities12/29/10. Allstate Corp, a home and auto insurance company, purchased more than $700 million in mortgage backed securities from Countrywide when the mortgage firm was still in operation.  Years later, Allstate...
Mortgage Applications Decrease, Sign of Unstable Housing Market
12/30/10. According to the Mortgage Bankers Association, mortgage applications decreased by 2.3% during the first few weeks of December.  This is likely due to interest rates increasing during the same time period.  Experts are taking this as a sign that the...
Mortgage Rates No Longer Setting Records, But Still Low
12/30/10. Mortgage rates are no longer resting at record lows.  The increase seen over the past few weeks has brought rates up from around 4% to somewhere just shy of 5%, depending on who you ask.  This is still low, as far as mortgage rates go, but the market is past the...
Job Growth is Key to Housing Recovery
1/03/11. Much of the blame for the current recession has fallen upon the US housing market, and rightfully so.  The market is currently burdened by a high number of unsold homes, and in order for demand to increase and improve sales numbers, personal and family incomes...
Bank of America Settles With Fannie and Freddie for Close to $3 Billion
1/03/11. Bank of America, it seems, won’t have to buy back any mortgages from government entities Fannie Mae and Freddie Mac.  Investors felt that the loans sold to them in the form of mortgage backed securities never should have been sold in the first place because...
Mortgage Rates Decrease in First Few Days of Year
1/04/11. Though the Mortgage Bankers’ Association has not yet released its beginning-of-the-year report, it’s clear from overnight surveys that mortgage rates have been decreasing for the past few days.  This may be a sign that the Fed’s efforts...
Financial Markets React Positively to Bank of America Settlement News
1/04/11. Financial markets reacted positively to the news that Bank of America has settled with Fannie Mae and Freddie Mac to the tune of $2.8 billion dollars.  But this settlement is surprisingly small considering the trouble Bank of American has gotten in to over the...

Foreclosures Decrease in Some States, but Mortgage Delinquency Still High1/05/11. The final quarter of last year offered many opportunities for review of the financial and mortgage markets.  Officials state that foreclosures have dropped off in some states,...
Mortgage Applications Drop at End of Year
1/05/11. According to the Mortgage Bankers’ Association, mortgage applications dropped off sharply the week before Christmas.  They rose again the week after, but the market saw a decrease overall.  This is likely due to the recent increase in interest...
Mortgage Law May Undo Foreclosures in Some States
1/06/11. In Massachusetts and some other states, the war between banks and homeowners who have faced foreclosure may soon take an unusual turn.  Homeowners have made claims that mortgages were transferred into mortgage-backed securities without the recipients of...
Mortgage Rates Start the Year with a Decrease
1/06/11. Freddie Mac reported today that mortgage rates have begun to decrease, against all expectations.  You can get a 30 year fixed rate mortgage for 4.77%, down from last week’s relative high of 4.86%.  This time last year, rates were still above 5%, a level...
Southern Florida Repeatedly Hit by Mortgage Fraud
1/07/11. Southern Florida is a hotbed for criminal mortgage activity, it seems.  The Financial Crimes Enforcement Network released a study detailing major mortgage fraud locations.  Miami-Dade County, Broward County, and Palm Beach County led the pack. ...
Major Cities Hit by Housing Decline May Not Recover Until 2030
1/07/11. A recent mortgage Bankers’ Association study concluded that some major cities, mostly in the southwestern corner of the nation, won’t recover from the housing decline for several decades.  The news is grim but not unexpected for these areas...
Massachusetts Foreclosure Ruling May Set Precedent for Large Banks
1/10/11. On Friday, the Supreme Court in Massachusetts ruled that banks cannot foreclose on homes unless proof of ownership is clearly established.  This is part of the issue at the core of the foreclosure crisis.  Many banks packaged and sold mortgages as mortgage...
Mortgage Predictions for the New Year – Home Prices Stabilizing, Mortgage Rates Rising
1/10/11. Mortgage predictions and housing market expectations for the coming year are plentiful in the media.  Some trends we can expect to see include the following.. Mortgage rates will likely continue to rise.  Demand for mortgages will decrease as a result,...
FDIC Considering New Disclosure Requirements for Banks
1/11/11. Banks that sell second lien mortgages to investors as mortgage backed securities may have to disclose a specific plan of what will take place if the primary mortgages connected to these second liens enter into default.  There is widespread belief that many...
Ibanez Mortgage Case Could Become a Major Pitfall for Banks
1/11/11. On Friday, the Massachusetts Supreme Court, one of the most authoritative state Supreme Courts in the nation, ruled that Wells Fargo and US Bancorp had no right to foreclose on two properties due to the fact that the banks could provide no evidence that the mortgages...
Lawmakers Question Bank of America Settlement
1/12/11. Several state representatives collaborated on a signed letter sent to the agency that oversees both Fannie Mae and Freddie Mac, asking for an explanation of the proceedings that led to the recent settlements reached between major banks and Fannie and Freddie...
Mortgage Applications Increase as Rates Dip
1/12/11. According to the Mortgage Bankers’ Association, total loan application increase 2.2% this past week.  The increase is tied to an unexpected dip in mortgage rates.  This is good news, but it’s the first good news in a while.  The four weeks...
Freddie Mac Reports Declining Mortgage Rates
1/13/11. Without strong improvement in the job market, Treasury bonds have grown safer for investors.  This has driven yields on these bonds lower.  Mortgage rates, as always, are decreasing in tandem.  Rates on the 30 year fixed mortgage dropped to 4.71%, a...
Homes Sales Improving as Prices Stay Low
1/13/11. Home sales have already increased at the start of the spring selling season, driven by lower mortgage rates and minor improvements in both the job market and consumer confidence.  The National Association of Home Builders expects home sales to increase 26%...
Reverse Mortgage Counseling Requirements Increase
1/14/11. Though counseling has always been a required element of any reverse mortgage application, the Department of Housing and Urban Development has announced that it plans to spend $3 million this year to improve its counseling programs.  Reverse mortgage loans...
Development of New Mortgage Disclosure Laws Announced
1/14/11. The Consumer Financial Protection Bureau announced its plans to create simpler, stricter regulations on mortgage disclosure.  The goal of the regulations is to allow homebuyers to more easily and accurately compare mortgage rates and terms offered by...
JP Morgan Chase Overcharged 4,000 Military Home Loans, Admits Erroneous Foreclosures
1/17/11. JP Morgan Chase Bank admitted today that it overcharged 4,000 military families on their mortgages.  The Servicemembers Civil Relief Act prevents banks from charging more than 6% interest on home loans under some circumstances and forbids foreclosures on...
Economy May Recover This Year, But Housing Market Won’t
1/17/11. Eric Rosengren, president of the Federal Reserve Bank of Boston, expects the economy to rebound this year with a 3.3% growth of GDP.  But he doesn’t think the housing market will have anything to do with it.  In fact, he expects housing to remain in dire...
New Single Family Home Construction A Long Way from Recovery
1/18/11. Everything is connected in real estate.  Mortgage rates influence sales, sales levels influence new construction projects, and so on.  It’s unclear what direction mortgage rates will move in the coming months, but construction, at least,...
Compensation Structure for Mortgage Servicers May Change in Coming Year
1/18/11. Compensation structures for mortgage servicers may change soon to better incentivize loan modifications.  At present, loan modifications put servicers at a financial disadvantage relative to foreclosure.  Foreclosing on a property allows a...
Mortgage Refinance Applications Increase as Mortgage Rates Tick Lower, But Home Purchases Remain Elusive
1/19/11. Mortgage application rates leapt ahead again this week, spurred by a minor refinance boom.  The Mortgage bankers Association reported a 7.7% increase in refinance applications during the week ended January 14th.  This is tied to an unexpected decrease in...
Mortgage Rates Rise on News of Increased Home Sales, Economic Health
1/20/11. The National Association of Realtors reported a significant increase in existing home sales for the month of December 2010, inspiring cheers from every corner of the real estate and financial market.  Existing home sales surged 12.3% past November levels,...
Mortgage Delinquencies Decrease, but Foreclosure Rate Likely to Hit Peak in Coming Months
1/21/11. Lender Processing Services, a major mortgage services and analytics firm, released a report on the state of mortgage delinquency this week.  The news is good.  Delinquency has decreased almost 18% since December of 2009, to about 8.8% of mortgages. ...
Cheaper to Buy than Rent in Most Metropolitan Areas, Study Shows
1/24/11. The debate is ongoing as to whether it’s cheaper to buy a home or rent one, but for the moment, at least, buying seems to have won the day.  Recent economic tangles have made homes more affordable and more readily available than in recent memory, while job...
Mortgage Fees Rising in Coming Months, Even for Good Credit Borrowers
1/25/11. Mortgage fees are nothing new.  Among the fees charged when closing a loan, many borrowers are required to pay a loan-level price adjustment (LLPA).  This fee is charged to bring down the overall risk associated with releasing the mortgage money. ...
Eight Major Cities Hit Record Low Home Prices
1/25/11. The S&P / Case-Schiller composite 20-city home price index charted a 1.6% decrease in home prices between November 2009 and November 2010, a new report shows.  The drop brought home prices a full 1% lower than October 2010 levels.  Oout of 20 major...
Mortgage Originations, Home Prices Expected to Drop in 2011
1/26/11. The Mortgage Bankers’ Association announced today that it expects to see mortgage originations drop a hefty 36% during the coming year.  The institution predicts that refinance loans would decrease from 69% of all mortgages originated to a paltry 36%...
Origins of Financial Crisis Explained in FCIC Report Released Today
1/27/11. The Financial Crisis Inquiry Commission (FCIC) today released a comprehensive report on the origins of the financial crisis, blaming both Wall Street and Washington for the meltdown.  The Federal Reserve, including Chairman Ben Bernanke and former...
Foreclosures May Endanger Economic Recovery
1/28/11. Joseph Tracy, an executive at the Federal Reserve Bank of New York, fears the economic recovery may be hindered by a swelling tide of foreclosures.  This is contrary to views expressed by many economists, who predict the recovery will kick into high gear this...
Tighter Lending Standards May Choke Market, Fuel Home Ownership Decline
1/31/11. The home ownership rate in the US peaked above 69% in 2004, an almost 7% increase over ten years.  Today, the rate has fallen to about 66% and is still dropping, the US Census Bureau reports.  The rate is now the lowest it’s been since 1998, and John...

2/01/11. A Rhode Island senator, Sen. Sheldon Whitehouse, has crafted a bill that would allow greater room for borrowers in default to negotiate loan terms with their lenders under court supervision.  Bankruptcy courts would oversee the negotiations and discussions...
Mortgage Applications Rise 11.3% Following Private Sector Job Growth
2/02/11. An unexpected increase in mortgage applications during the week ending January 28 took economists by surprise and strengthened opinions that the housing market, while not yet healthy, is at least alive and fitfully stirring.  The 11.3% increase comes on the...
Home Prices Increase in January, Though Market Remains Uncertain
2/03/11. According to the Clear Capital home price index, home prices increased in thirteen major markets during the month of January.  Alex Villacorta, a senior statistician with Clear Capital, says home prices haven’t increased since the federal tax credit...
Banks and Regulators Battle Over New Minimum Down Payment Requirement
2/04/11. Government regulations require lenders to retain at least 5% of the financial risk of any mortgages that lenders plan to package and sell as securities.  This stricter regulation comes as a response to investor outcry and litigation over bank sales of toxic...
Commercial Mortgage Delinquency Decreasing as Property Values Improve
2/07/11. The recession dealt a strong blow to commercial and industrial property values during the middle of 2009, but while the housing market continues to flounder, commercial real estate has begun to improve on many fronts.  In some areas, commercial property...
Mortgage Modification Delinquency Rates Decrease
2/07/11. Most borrowers who receive mortgage modifications end up delinquent again within a year.  Banks have been hesitant to modify mortgage for this reason.  But a recent report released by Fitch Ratings Ltd., a credit rating agency based in New York, shows that...
Mortgage Application Process “Confusing,” Borrowers Report, As Regulators Plan Additional Changes
2/08/11. Most home buyers say securing a mortgage is one of the most difficult and complex parts of the home purchase process, a study conducted by Move, Inc., concluded.  Above all else, applying for and qualifying for a mortgage was described as...
Mortgage Rates Leap Upward, Refinance Applications Stall
2/09/11. Mortgage applications decreased again this past week as mortgage rates on 30 year fixed loans skyrocketed.  Interest rates increased from 4.81% to 5.13%, an unexpected and impressive leap that highlights the inherent volatility in the marketplace rather than...
Mortgage Rates Starting a Long Upward Climb
2/10/11. The Obama Administration has considered the option of privatizing Fannie Mae and Freddie Mac entirely, according to this article.  If it did, many economists believe mortgage rates might increase by as much as 2% almost immediately.. It’s unlikely that...
Breaking News: Obama Administration Releases Plan to Wind Down Fannie and Freddie
2/11/11. The Obama Administration released a plan today to significantly wind down the power and responsibility of Fannie Mae and Freddie Mac.  The goal of the plan?  Get more private capital into the mortgage marketplace by increasing the price of government...
Eliminating Fannie and Freddie May Raise Mortgage Costs, Force Small Lenders Out of Business
2/14/11. In the wake of the Obama Administration’s announcement on Friday to gradually eliminate Fannie Mae and Freddie Mac, some economists and finance professionals have expressed concern that privatization of the secondary mortgage market will force smaller,...
Affordable Homes and Fewer Delinquencies Benefit Housing Market
2/15/11. While the job market continues to flounder and forecloses continue to add up, housing is becoming more affordable.  Prices are dropping in many major markets and have reached levels unseen in the past decade in some areas.  Unfortunately, this...
Home Loan and Refinance Applications Decline
The Mortgage Bankers Association (MBA)'s loan application survey for the week ending Feb 11, 2011 indicates that the demand for home loans is declining. In an environment that mortgage rates are falling, a trend of increasing refi apps implies consumers are seeking out...
30 Year Fixed Rates Drop Slightly
According to Freddie Mac, the average rate for a 30 year fixed rate mortgage dropped slightly to 5%.  This is a decline of 0.7 of a percentage point.  This is for the week ending Feb. 17, 2011.  The same rates stood at 5.05% the previous week..
President's Day - Markets are closed, but an eventful week awaits us
This week will bring another round of important economic data, fed-speak, and treasury auctions. Tuesday morning will ahve the consumer confidence report and Case Shiller home prices. At 1:00 pm, the 2-year note auction results will be available and the fed speech from...
President's Day - Markets are closed, but an eventful week awaits us
Today the markets are closed becuase of President's day, but we have an eventful week coming up. The week is filled with another round of important economic data, fed-speak, and treasury auctions.. Tuesday morning will bring consumer confidence data and Case Shiller home...
Fate of Fannie and Freddie Still Uncertain Despite Positive Housing Market Predictions
Treasury Department officials have warned the Obama Administration that swift action taken to reform Fannie Mae and Freddie Mac may damage the mortgage market more than help it.  Suggestions for reform provided by the Treasury include a plan that’s akin to...
Mortgage Rates and Applications See Unexpected February Decrease
The Mortgage Bankers Association reported a significant decrease of about 6.5% in demand for home purchase and refinance mortgages this past week.  The drop occurred despite an unexpected recent downward trend in mortgage rates, which continued to decline last week...
Government Mortgage Assistance Mostly Failing, Reports Show
While the Obama Administration’s Home Affordable Modification Program, colloquially known as HAMP, has met with success to the tune of 600,000 permanently modified mortgages as reported by the Treasury Department, new information shows that the program has had...
Existing Homes Sales Decrease in Some Regions, Increase in Others
Standard & Poors reported a decrease in pending home sales for the month of February, hinting that total home sales for the month may be down from year end levels.  Pending sales data is easier to obtain than actual sales data, which is often held up for one or more...
FHA Financing May Be On Its Way Out
It's common knowledge that many homes purchased and refinanced during the past two years have been financed through the Federal Housing Administration.  At present, the FHA is responsible for the lion's share of mortgage loans closed in the nation.  In...
House Votes to End Mortgage Relief
The Obama administration spent last week defending its two-year-old efforts to reduce foreclosures through mortgage modification and related programs as congressional Republicans ramped up pressure to cut them out of the budget.. House Votes to End Mortgage Relief.
Bank of America Grilled by Investors Over Losses
Investors will be looking for answers about lingering mortgage losses and future growth strategies at Bank of America’s investor conference Tuesday.. Bank of America Grilled by Investors Over Losses.
Housing Sector Still Struggling Despite Other Economic Gains
Housing remains a soft spot in an “otherwise encouraging picture” for the economy, said Dennis Lockhart, chief executive officer of the Federal Reserve Bank of Atlanta.. Housing Sector Still Struggling Despite Other Economic Gains.
State Attorneys General Put Pressure on Banks to Modify Mortgages
State attorneys general are putting increased pressure on banks to fix issues remaining with foreclosure procedures.  Several major banks have been accused of violating multiple state laws when processing foreclosures.  Iowa Attorney General Tom Miller...
House Committee Gives Final Vote to Terminate HAMP
Since March of 2009, the Home Affordable Modification Program (HAMP) has modified 600,000 mortgages to ease pressure on underwater homeowners, far less than the four million expected by government representatives of the project.  In the wake of this colossal...
First Time Home Buyers Struggling to Enter Market
It wasn't long ago that first time home buyers composed 40% of the home purchase market.  Now, that number has dropped to less than 29%, and that's an amiable estimate.  The real estate industry will likely see still fewer first time home buyers entering the...
MoneyNing.com
Reviewed by Kyle Chezum. 3/12/11. You can find a lot of personal finance blogs on the internet.  Many of them simply parrot broad, general financial truisms that everyone has heard before without offering anything new or valuable or digging into the real issues that...
Obama Administration Must Decide Soon How to Fix Housing Sector
The Obama Administration faces a major decision.  Over the next few months, government leaders must come to terms with the mess that the housing sector is in and begin to implement suggested changes of some kind or another.  And that’s where the decision lies.....
Foreclosure Fraud Battle May Reach a Conclusion Soon
Treasury Secretary Timothy Geithner called today for a swift resolution between state attorneys general and major banks over close to a year of mortgage servicing fraud allegations.  "It is very important that we try to bring this to bed as quickly as we...
Mortgage Applications Decrease, Housing Starts Fall as Market Volatility Continues
The Mortgage Bankers Association reported a slight drop in mortgage application numbers this week.  The association’s index fell by less than 1%.  This news, while not startling in its intensity, is nonetheless a sign of continued volatility in the...
Global Market Concerns Send Mortgage Rates Lower
There’s a lot to be alarmed about in the news today.  Uprisings in the Middle East, skyrocketing oil costs, devastation in Japan, and a possible nuclear catastrophe have made some investors skittish.  Concern over the health of global markets has driven...
State Attorneys General Take Tough Stance on Mortgage Reform
A task force of 50 attorneys general has spent countless hours investigating allegations levied against major mortgage servicers, gathering evidence of dubious foreclosure practices and errant document handling.  The team will soon begin talks with the accused...
New Federal Reserve Regulations Set to Reform Broker Industry April 1st
The recent collapse of the housing sector came as a result of many things.  The Federal Reserve believes one of the primary factors that contributed to the mess was a practice among mortgage brokers to talk borrowers into loans that were larger and more expensive than...
Grim Year Ahead for Housing Sector
Fannie Mae released its Economic Outlook report, and the news for housing isn't much improved just yet.  While economists debate the strong possibility of a double dip in home prices, the government mortgage holder reported a continued drop in total mortgage...
SEC Ruling Allows Shareholders to Force Audits on Banks
Citigroup, Wells Fargo, and Bank of America have each independently face significant scrutiny in recent months from director boards and shareholder groups regarding mortgage and foreclosure practices, and, as one, these banks have mostly ignored this negative...
Coordinated Foreclosure Settlement May Derail Due to Regulator Divisions
The Office of the Comptroller of the Currency, the primary regulator for this nation's largest banks, has announced that it intends to seek its own settlement from the banks at fault for mishandling foreclosure documents.  Multiple federal authorities and all...
Negotiations for Settlement With Banks Set to Begin Wednesday Despite Disagreements
The day has almost arrived.  The nation's five largest banks, Citigroup, Bank of America, JP Morgan Chase, Ally Financial, and Wells Fargo, are meeting with state attorneys general in Washington in this Wednesday to begin negotiations.  With any luck, the...
Major Metro Home Prices Down as Foreclosure Inventory Increases
Several things have happened that will have a profound effect on the state of the housing sector.  First, in preparation for Wednesday's meeting of attorneys general with bank representatives to negotiate a settlement for the foreclosure crisis, the US Treasury...
Mortgage Applications Down and Rates Up Again
Applications for mortgages in the US fell as rising mortgage interest rates dealt another blow to the refinance market.  The Mortgage Bankers Association reported a 7.5% decrease in mortgage applications overall for the week.  Michael Fratantoni, vice...
Banks Meet With Government Officials to Begin Negotiations
The major meeting of bank representatives and government officials finally took place on Wednesday, but if you're hoping this means a settlement was reached and we can all have done with this foreclosure litigation mess, think again.    Jessica...
Bills to Eat Away at Fannie and Freddie Unlikely to Pass
At this point, everyone knows that Fannie Mae and Freddie Mac, the two massive government entities that hold much of the nation's mortgage risk at present, will need to back away from the industry and turn control of mortgages back over to the private sector.  What no...
America Needs and Wants a Secondary Mortgage Market
Mortgage rates are up to 4.85% this week, a Freddie Mac report showed,  This is still incredibly low when compared against the mortgage rates of yesteryear, but it's higher than the rate that was broadly available during many of the last six months.  Some...
Many Homebuyers Unable to Get Loans Despite Low Mortgage Rates
The story has been unending and unchanging.  Mortgage rates are at historic lows.  Though they've been increasing since the start of the current year and have bumped up against the 5% mark on more than one occasion, rates have remained incredibly low and, to...
Refinance Applications Decrease While Home Purchase Applications Spike
The Mortgage Bankers Association reported a not insignificant decline in mortgage applications this past week.  The industry group reported a 2% decrease in total mortgage applications.  Most of the decline was due to a significant drop in refinancing activity...
Mortgage Broker Groups Lose Appeals Against New Compensation Rules
The Federal Reserve rule that significantly changes the compensation model for loan officers and mortgage brokers will continue to take effect as planned after two mortgage industry trade groups, the National Association of Mortgage Brokers and National Association of...
Lawsuit Forces HUD to Rescind Reverse Mortgage Policy Changes
The Department of Housing and Urban Development implemented a policy change regarding reverse mortgages back in 2008.  The policy change obligated spouses of mortgage holders to pay back reverse mortgage debt in full at the time of the mortgage holder's death if...
New Mortgage Broker Compensation Rules May Give Unfair Advantage to Large Banks
The new compensation structure for mortgage brokers was initially scheduled to roll out across the nation on April 1st, but was held up at the last minute by an appeal from several industry trade groups.  Within just four days, though, the Federal Reserve went ahead and...
Housing Inventory Increases for Spring Selling Season
Housing inventory is increasing across the nation as sellers prepare to take advantage of what is typically the strongest buying and selling season of the year, spring.  On the whole, inventory increased by about 3% during the month of March and has increased by a total...
Attorneys General and Regulators Force Banks to Clean Up Foreclosure Practices
State attorneys general and financial regulators recently teamed up to tackle settlement negotiations with major banks over accusations of shoddy foreclosure practices.  Over the past several weeks, negotiations have dragged on, and few individuals and groups...
Mortgage Rates Hit Recent High Close to 5 Percent
Average rates on 30 year fixed rate mortgages have been increasing for four weeks straight, mirroring a sudden increase that occurred close to the beginning of the year.  That first raise reversed itself in the months that followed, but as the spring home buying season...
QRM Guidelines Come Under Fire From FHA
Qualified residential mortgage guidelines have come under fire in recent weeks, drawing attention from top economists and speakers across the nation.  Acting Federal Housing Administration Commissioner Bob Ryan has made a statement to regulators that seems to sum...
Sudden Profitability for Citigroup Hints at Recovery and Growth
In an unexpected and largely unusual turn of events, major banker and lender Citigroup reported earnings of $3 billion for the first quarter of 2011, showing an increase of over 100% in earnings from the previous quarter.  The reasons for this troubled bank's...
New Standardized Mortgage Disclosure Forms to be Tested in May
The Consumer Financial Protection Bureau made a statement indicating that new standardized mortgage disclosure forms will be tested in the marketplace in May.  The news came from Elizabeth Warren, special adviser to the Treasury Secretary and leader of the Consumer...
Mortgage Applications Increase Due to Sudden Home Purchase Interest
For the first time in a while, over a month, to be exact, mortgage applications have increased.  Rising interest rates for the past several weeks killed early spring refinance activity, which greatly reduced the number of applications for mortgages submitted to major...
Huge Price Discounts on Distressed Properties Harm Overall Home Values
Though the Mortgage Bankers Association's home purchase mortgage index has increased by as much as 10% in the past week, home purchases are not as common or frequent as the troubled housing sector needs them to be in order to fully recover from the damage done during the...
Low Home Prices and Mortgage Rates Make Spring Good for Buyers
Two coinciding financial trends are combining to make this spring a unique time of opportunity for home buyers and, especially, qualified first time home buyers, if they can come up with the down payment money.  The two trends are home prices and mortgage rates. ...
Study Shows Americans Still Consider Homes Good Investments
As home values continue to drop and home investments continue to lose value, many individuals have begun to question whether purchasing a home is still a wise idea.  The media, which strongly influences popular opinion, has carried reports from many economists...
Reports Show Commercial and Multifamily Lending Increased Dramatically in 2010
The Mortgage Bankers Association reported this week that commercial and multifamily loan originations increased by a stunning 44% during the whole of 2010, a surprising leap forward despite the economy's overall financial woes.. Mortgage lenders closed loan deals...
Home Purchase Mortgage Applications Drop Sharply in Response to FHA Premium Increases
This week brings another aberration in the volatile home purchase mortgage application trend that has swung from unexpected highs to startling lows on an almost weekly basis since the beginning of the year.  This time, home purchase mortgage applications have...
Delinquencies Down and Pending Home Sales Up
Fannie Mae reported that mortgage delinquencies on residential single family homes have decreased this year significantly from last year's levels.  In addition, mortgage delinquency rates have declined each month from February 2010 until today, down from...
Fannie and Freddie Get Handed New Mortgage Servicing Guidelines from FHFA
Fannie Mae and Freddie Mac, the two large government sponsored entities that currently manage the bulk of the nation's mortgages, have been directed by the Federal Housing Finance Agency to revise how they handle mortgage delinquencies.  Up until now, the two...
Small Lenders Protest Government Withdrawal from Mortgage Industry
House Republicans are planning a move for the coming months that will take the government out of the mortgage marketplace and leave just the Federal Housing Administration in play.  Reduced government involvement has long been considered a sign of housing sector...
Foreclosure Inventories at Record High and Increasing
It's not news to point out the recent increases in foreclosure inventory.  As industry professionals and consumers alike have noted, the past several months have brought a massive shadow inventory of foreclosed homes and delinquent properties to the...
Debate Continues Over Fate of 30 Year Fixed Rate Mortgage
Policymakers have begun taking steps to recreate and resolidify the nation's housing finance market in the wake of the second most devastating financial crisis in American history, and one of the issues they're considering is the fate of the 30 year fixed rate...
Home Prices Drop to Record Lows in April
Before April of this year, home prices had hit their lowest point in March of 2009.  But April brought with it a surge of distressed property sales that pushed the average price down to a level never seen before.  Clear Capital, a real estate industry analytics group,...
Mortgage Rates Hit Lowest Levels of Year
Interest rates on 30 year and 15 year fixed rate mortgages are typically some of the lowest available in the marketplace.  The 30 year fixed rate mortgage is considered the standard home purchase mortgage, while the 15 year fixed rate mortgage is considered the standard...
Fannie Mae Posts Massive First Quarter Loss Due to Decline in Home Values
Home prices are as low as they've been since the depths of the financial crisis in 2008, and this has given many economists food for serious thought.  Estimates as to when the housing sector will recover have been pushed back, with many economists and industry...
Incidences of Mortgage Fraud Decreased Last Year but Rate of Fraud Increases by 5 Percent
There is absolutely no question that the financial crisis provided an opportunity for scam artists to commit mortgage fraud at levels not seen before.  But a recent study shows that actual incidences of mortgage fraud have decreased over the past few years. ...
Mortgage Rates Dropped for the 5th Consecutive Week
Fixed mortgage rates (30 year & 15 year) dropped for the fifth consecutive week as the markets attempt to predict the trend for the economy. The 30-year fixed mortgage rates averaged 4.61% for the week ending May 19, down from 4.63% last week. The rates for the 30 year fixed...
Strategic Defaults by Countrywide Homeowners
Homeowners who are at least 60 days delinquent on their payments may be more apt to default if offered a loan modification even though their credit score would be damaged.In a new report investigating Countrywide Financial Corp., researchers found the company's...
Mortgage Applications Increase Nationwide as Signs of Recovery Strengthen
For the fourth week in a row, mortgage applications have increased in the United States, a report from the Mortgage Bankers Association shows.  This past week, the group's mortgage application index edged up 1.1% over the week prior.. One of the primary factors that...
Distressed Property Sales Account for One Third of All Home Sales
Foreclosures have long made up a significant portion of all home sales.  Real estate professionals and even many consumers have kept track of distressed home sales for months now in order to anticipate average home value shifts in their regions, and prices have largely...
Mortgage Rates Drop to Lowest Levels of Year Amid Economic Unrest
Mortgage rates for 30 year fixed rate loans have reached a new low for the year this week, dropping to an average level of 4.60% across the board.  Rates haven't been this low since late fall of last year, and they've been dropping now for six consecutive weeks, a...
CFPB Releases New Mortgage Disclosure Forms
The Consumer Financial Protection Bureau (CFPB) has proposed new simplified mortgage disclosure forms that will help borrowers better understand the mortgage products they are purchasing and prevent unscrupulous lenders from taking advantage of borrowers'...
Home Prices Fall to New Recession Lows
Average prices for single family homes have hit a new low this quarter, dropping to levels not yet seen during the recession.  Home prices haven't been this low across the board since 2002, the Stand and Poor / Case-Shiller index reported.  The index tracks home...
Major Drop in Loan Originations Sends Markets Back to Levels Not Seen Since 2000
For the most part, mortgage origination levels have been on an upswing since early last year, with more and more mortgages being originated each quarter.  Certainly the overall number of originations has been low, but the trend has been one of increasing loan activity...
FHFA Plans to Reduce Fannie and Freddie Conforming Loan Limits
The Federal Housing Finance Agency has announced that it plans to reduce mortgage loan limits on Fannie Mae and Freddie Mac conforming loans in October of this year.  The FHFA's plan is to use the upcoming decrease to stimulate housing demand over the summer. ...
30 Year Fixed Mortgage May Be Unavailable to Many Buyers Soon
Since the beginning of the financial crisis, lawmakers and politicians have been trying to find ways to ease the taxpayer burden that has evolved through the nationalization of Fannie Mae and Freddie Mac, the two mortgage giants that guarantee the majority of mortgage...
Economic Indicators Do Not Point to Double Dip Recession
There has been much talk about the possibility of a double dip recession ever since the economic indicators began to point toward this potentiality around the middle of the current crisis.  During the past week, many of these indicators began to point toward such an...
More Homeowners With Second Mortgages Underwater
There is no doubt that during the height of the housing crisis, a high number of homeowners were and still are underwater on their mortgage home loans.  But an upcoming report released by real estate data firm CoreLogic reveals several additional facts about the issue of...
Fewer Underwater Homeowners in the Nation Today Due to Foreclosures
Though some parts of the nation are still choked with underwater homeowners, including the Miami-Dade area of Florida, the total number of underwater homeowners in the nation has decreased during the first quarter of this year.  At the end of last December, there were...
Home Price Decrease Slows as Summer Arrives
Home prices are beginning to improve in parts of the nation.  This news may come as a surprise, considering all the talk from economists and news outlets in recent weeks of the supposed upcoming double dip.  Clear Capital, a real estate data firm, reported that home...
Homeowners Still Losing Equity on Their Homes Across the Nation
Ten years ago, the average homeowner had 61% equity in his or her home.  The remainder was on bank balance sheets.  That's impressive, when you consider it.  Assuming a bell curve distribution, this means that a large number of Americans owned their homes...
Full Housing Sector Recovery Still Far Off
Home prices are still higher than they have been historically, which leads many economists to conclude that the housing crisis isn't over just yet.  A look at the bubble prices of the past ten booming years in real estate shows a dramatic increase that still...
Fannie and Freddie Draining Government Resources
Government conservatorship of Fannie Mae and Freddie Mac has been a highly beneficial thing, a step that arguably saved the housing industry from a much more cataclysmic downward spiral, but now, several years into the crisis, the two mortgage giants are putting a severe...
Mortgage Applications Increase Due to Renewed Refinance Activity
The Mortgage Bankers Association reported a huge jump in mortgage applications over the Memorial Holiday weekend, surprisingly driven by refinance activity rather than the expected spring home purchase surge that has not yet materialized.  Mortgage interest...
Blog Review: Alan Barker
Alan has one of the most sincere and down to earth approaches to the real estate market we’ve seen. He’s strongly averse to high pressure sales, and is far more concerned with keeping his clients happy than with what the next commission will be. Communication with...
The Reverse Mortgage Is Here To Stay
The reverse mortgage isn’t going away. Not according to the National Reverse Mortgage Lenders Association, anyway. Wells Fargo announced yesterday that it would be cancelling that line of lending, citing unpredictable home values and restrictions on the loans....
Phoenix Home Sales Jump to 6-year high
Sales of previously-owned homes in the Phoenix area reached a six-year high in May 2011, as real estate investors hurried to find great deals in that depressed market.The area had 9,837 home sales in May which is up 0.8% from April and 4.9% higher than May of 2010, according to...
Blog Review: Arlington VA Real Estate
Laura Rubinchuk Schwartz is a Realtor who lives and works in the Arlington area of Virginia.  She operates a blog as an extension of her brokerage, and in her blog, she writes about subjects relevant to the local real estate market.  Topics include local news, home...
Blog Review: Suits In Boots
Louise Thaxton is a professional mortgage planner who resides in and works out of central Louisiana. She not only represents her field professionally and confidently, but also regularly contributes to industry publications, is a featured speaker, and writes several...
Countrywide Begins To Issue Homeowner Refunds
Refund checks are finally being sent to the more than 450,000 borrowers who suffered overcharges from the mortgage lender Countrywide after they fell behind or defaulted on their home loans, due to the $108 million settlement in 2010 with the Federal Trade Commission, the...
Rates Are Down, Applications Are Up
Plummeting mortgage rates last week resulted in a jump of 7.1% in mortgage applications, according to an industry trade group.. The Mortgage Bankers Association's market composite index, which is a measure of the nation's mortgage loan application volume,...
Detroit residential real estate market is up 9.6 percent
Realcomp has indicated that some areas of Detroit have seen a rise in home sales in July compared to the numbers posted a year ago. This year nearly 400 more homes were sold yielding a total of 4,563 properties.. Included in this report are the four surrounding Michigan...
Industry 4.1 percent boost in mortgage applications
Industry 4.1 percent boost in mortgage applications According to a leading trade group, it seems that Americans can't resist the possibility of lower interests rates. The number of applicants seeking to refinance has bumped up 4.1 percent, since last week.. Mike...
Bank of America to receive $5 billion investment from Warren Buffett
The Omaha-based firm, Berkshire Hathaway - operated by investment high roller Warren Buffett, will purchase 50,000 shares of Bank of America preferred stock. At rate of $100,000 per share, the wounded bank will receive a total investment of $5 billion.. Bank of America CEO,...
During shaky economic news, mortgage rates hold firm
Fixed rates held strong on some mixed economy reports according to Freddie Mac. Regardless, they are at a 60 year low.30-year FRM are at 4.11%, down from 4.12% a week ago and 4.21% a year ago. 15-year FRM hit 3.38%, up from 3.37% last week, but down from 3.54%.Vice president and chief...
Bill Gross, PIMCO, sees ineffective plans from the Fed
PIMCO founder and managing director, Bill Gross, is unreceptive of the idea that policymakers can simply jump-start the economy with a bundle of policies that push zero percent interest rates, quantitative easing and large-scale debt programs in the European Union.Gross...
Five more banks fail in November, CRE to blame
Five bank failed in November due to their exposure to commercial real estate, according to the analytics firm Trepp LLC.These developments continue the trend of 2011; bank failures after the end of a fiscal quarter, with a lull in the following two months. Eleven banks in total...
Single-family Freddie homes delinquincies on the rise
In November, mortgages held by Freddie Mac edged up in delinquencies from 3.54% to 3.57% from last month according to the GSE.However, the delinquency rate for multifamily homes fell to 0.28% from October's level of 0.31% and Freddie's entire mortgage portfolio dipped...
Home Prices are Still Overvalued
Home prices are still overvalued at the present time according to Fitch Ratings, even with the crash of the real estate market of the recent years.  The prices could fall another 9.1%, despite nearing the bottom and the stability point.Fitch Ratings said that home prices...
New York Home Prices Fall in Jan
The real estate market in New York had an almost identical month in January of 2012 as the one it experienced in January of 2011.  The state went through a relatively soft economic growth and there was very little variation in mortgage loan demand.New York's median...
Mortgage Applications Dropped in Week Ending March 2
Applications for home mortgages declined 1.2% last week (week ending March 2, 2012) mostly because the refinancing activity slowed down. The refinance index which is a component of the overall index actually decreased 2% from the previous week. The index rose 10.2% on an...
Home Prices at Levels of 10 Years Ago
For the sixth month in a row, home prices slipped and the real estate market declined nationwide in the month of January according to Corelogic, a Santa Ana, California based data and analytics firm. . Corelogic's data shows that home prices including those on...
15-Year fixed Mortgage Rates Hit Record Low
Fixed mortgage rates approached record lows last week.  The one rate that actually broke a record was the 15-year Fixed Rate Mortgage which dropped to a new all time low of 3.13% according to Freddie Mac.. Freddie Mac, the GSE (government-sponsored enterprise) last week...
Mortgage Applications Decline 2.4%
For the week ending March 9th, mortgage applications filed in the U.S. fell by 2.4% mostly because of the decline in mortgage refinancing activity according to the MBA (Mortgage Bankers Association).. The seasonally adjusted index actually fell 4.1% which makes it the fourth...
Mortgage Rates Edge Up on Good News
For the week ending March 9th, mortgage rates climbed on almost every loan product.  This move was primarily based on the better than expected jobs data and increasing bond yields.  The 30-year fixed mortgage rate reached 3.92% for the week ending March 15. ...
Home Remodeling Climbs to 2006 Levels
Re-modeling in homes climbed 11% in January 2012 from the 2011 levels. This was a a seasonally adjusted number according to BuildFax.The home remodeling projects rose to 3 million on an annual basis in January, 2012. This number was up approximately 13% from the 2.65 million...
Mortgage Rates Hold Steady Just below 4%
The Freddie Mac survey just released shows that the 30-year fixed rate mortgage is holding steady. The fixed rate mortgage inched up only slightly from the previous week averaging 3.9% this week compared to 3.88% last week. Today’s rate remains significantly lower than...
Home remodeling maintains post-recession high for month of February
For the third consecutive month, the home remodeling sector of the market has experienced an uptick with a seasonally adjusted number of 2.89 million projects in February, according to the BuildFax index. Unlike the other segments of the housing market, remodeling is up 3...
Mortgage Refinancing Slows Along with Mortgage Loan Applications
With a 5.6% decline in the refinancing index, mortgage applications fell 3.8% by U.S. borrowers last week according to an industry trade group on April 25, 2012.  Refinancing activity fell from 75.2% of the total in loan application volume to 73.4% as well for the Mortgage...
Mortgage Executive Pleads Guilty to Fraud
The subprime mortgage meltdown which was the underlying reason for our recent recession was due to a combination of factors, one of which is mortgage fraud.  Many executives of banks and mortgage companies have involved in this mess.  The latest is Reginald...
Foreclosures and Mortgage Delinquencies Decline in Q1
Foreclosures and delinquencies in Q1 dropped due to increased utilization of short sales, loan modifications, and help supplied through the national mortgage servicing. In March quarter of 2012, there were 198,000 completed foreclosures, which was significantly lower...
Freddie Mac Requests $19M in Aid
Freddie requested $19M from the government after a first quarter loss in 2012. The government controlled giant received $7.6 billion in aid for 2011 and $13 billion dollars in aid for 2010. In a year over year comparison, Freddie’s net loss to it’s common...
Loan Modifications Down In First Quarter
According to HOPE NOW, a non-government mortgage support group promoting foreclosure prevention, March’s data on mortgage modifications show a decline of 31% with 207,000 in permanent modifications from 2011’s first quarter numbers.Close to 147,000 of...
Rise In Mortgage Application Filings
Purchase applications for 30-year FRM raised 1.7% as the FRM rate hit a new low. The market composite index released by the Mortgage Bankers Association shows the 1.7% increased along with the purchase index raising 3.4% on a seasonally adjusted basis, and a 5.4% increase on a...
Second Week All Time Lows For Mortgage Rates
Mortgage rates drop again, hitting all-time lows for the second week in a row, according to the Freddie Mac survey. 30-year fixed rate mortgage averages reached an all-time low today at 3.83% ending the week 0.01% lower then last week’s record breaking average of 3.84% and...
Mortgage Lenders Looking At Lower Credit Borrowers
According to Experian, the well known credit reporting agency, mortgage lenders are looking for potential borrowers outside of the current requirements for high credit consumers. Experian stated in a recent white paper that portfolio growth objectives can not be met by...
Military Members Get HAMP Adjustments
It’s no question that military members who buy homes and then get their stations changed can get stuck underwater with a mortgage payment if they can’t sell their homes quickly. According to Hope Now, an alliance of non-profit counselors and private sector...
Blog Review: Gracik Makinney Real Estate Group
. The Gracik Makinney Real Estate Group Blog provides an excellent set of resources for both home buyers and home sellers alike who are looking to settle into the bustling community of Elmhurst, Illinois.  Updated 2-3 times per week by realtors Maria Gracik and Thomas...
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