Real-Estate Rebound Buoys Underwater Mortgage Borrowers
Updated Oct. 9, 2013
By ANYA MARTIN. As the real-estate market rebounds, many luxury homeowners who just a few years ago had their heads underwater are now only ankle deep.. At the end of the first quarter, 20.6% of homes with jumbo mortgages were underwater, meaning the owners owed more on the mortgage than the home was worth. That's...

Countrywide Board Should Face Investor Claims, Court Told
Updated Oct. 9, 2013
Countrywide Board Should Face Investor Claims, Court ToldBy Jef Feeley - Jul 3, 2013 12:00 PM MTFormer Countrywide Financial Corp. directors, including ex-Chief Executive Officer Angelo Mozilo, should be forced to face claims that they misled investors about the quality of the mortgage-lender’s...

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Updated Oct. 9, 2013
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Todays Mortgage news Jan 7, 2012
Updated Oct. 9, 2013
Chase Eliminates Hundreds of East Coast Mortgage Jobs. Improved performance on its residential loans means that staffing needs in distressed servicing have diminished at JPMorgan Chase &Co. As a result, hundreds of employees located on the East Coast have been laid off.As of Sept. 30, 2012, the New...

Morgage News Tuesday Jan 8, 2012
Updated Oct. 9, 2013
2012 A Good Year for MGICSeventy percent more loans were insured last year at MGIC Guaranty Insurance Corp. than in 2011. The mortgage insurer has also improved its delinquency rate by more than 200 basis points over the past 12 months.Home lenders used MGIC to insure $2.2 billion in mortgages during December,...

Low Rates Benefit Buyers
Updated Oct. 9, 2013
Mortgage rates held to their bargain basement lows this week, slipping to 3.34 percent for a 30-year fixed loan and continuing a trend that is expected to last at least through the end of the year.For Florida homebuyers searching in a low-inventory market the prediction of prolonged discounted rates should...

How To Increase Your Credit Score
Updated Oct. 9, 2013
How to Increase Credit Score. FICO advises how to be a credit score high achiever. Dec. 28, 2012By PATRICIA SABATINI Pittsburgh Post-Gazette - McClatchy-Tribune Information ServicesYou may never know what it's like to be rich or famous, but you don't need either of those attributes to join the ranks...

Fixed rates jump on Fiscal Cliff Fallout
Updated Oct. 9, 2013
Fixed Mortgage Rates Jump. 30-year mortgage rate averages 3.4 percent, highest in 8 weeks. Jan. 10, 2013By E. SCOTT RECKARD Los Angeles Times - McClatchy-Tribune Information ServicesWith employment improving and the fiscal cliff averted, fixed mortgage rates have jumped to their highest level in two months,...

Understanding Private Mortgage Insurance
Updated Oct. 9, 2013
Understanding Private Mortgage Insurance. Five things to know about PMI. Dec. 17, 2012By SCOTT J. WILSON Los Angeles Times - McClatchy-Tribune Information Services. If you're getting a home loan, the lender may require you to pay for private mortgage insurance, or PMI. Here are some key things to know about...

Bankers Make Run On Mortgage Credit
Updated Oct. 9, 2013
Friday, January 11th, 2013. Posted by Steve Cook. Bankers Expect Run on Mortgage Credit. In stark contrast to the significant household deleveraging that has taken place over the past five years, a large majority of bankers believe the numbers of consumers applying for refinancing and new mortgage credit will...

Consumers Impacted by Major Mortgage Events
Updated Oct. 9, 2013
Consumers Impacted by Major Mortgage Events. What the week's big mortgage moves mean for consumers. Jan. 14, 2013By MARTHA BRANNIGAN The Miami Herald - McClatchy-Tribune Information Services. Last week brought three big developments to the nation's beleaguered mortgage landscape. For consumers,...

Debt Debate puts Brake on Mortgage Rates
Updated Oct. 9, 2013
Debt debate puts brakes on mortgage ratesBy Polyana da Costa • Bankrate.com  . Mortgage rates dropped this week as Congress and President Barack Obama continue to wrangle over raising the country's debt limit.. 30 year fixed rate mortgage – 3 month trendThe benchmark 30-year fixed-rate...

Using Reverse Mortgage for a Home Purchase with NO Monthly Payments
Updated Oct. 9, 2013
Using Reverse Mortgages for Home Purchase With No Monthly Payments. Seldom-used financial tool helps seniors purchase new homes. Dec. 31, 2012By WHIT RICHARDSON Bangor Daily News - McClatchy-Tribune Information ServicesWESTBROOK, Maine -- Elinore Dunton raised five children in the four-bedroom house she...

CFPBs LO Compensation Measure Detrimental to Consumers
Updated Oct. 9, 2013
JANUARY 23, 2013--The Consumer Financial Protection Bureau (CFPB) has released its final rules on loan originator (LO) compensation. The CFPB, after working for many months and examining the many aspects of this regulation which it inherited from the Federal Reserve Board, issued a rule that will harm...

Prices Return to 2003 Levels
Updated Oct. 9, 2013
Case-Shiller: Prices Return to 2003 Levels. Weak prices in a number of late fall markets as evident in NAR's latest pending sales index has been causing concern in the real estate circles, but Case-Shiller, the final word on prices, downplayed the doubters today.. Through November 2012, the...

NAIHP Statement on Release of the LO Comp Rule
Updated Oct. 9, 2013
NAIHP Statement on Release of the LO Comp Rule (NAIHP) — The CFPB’s recently released rule on loan originator compensation, appears to be a continuation of the Fed’s same rule, which was implemented in April of 2011.. “However, we also see the continuation of picking winners and...

Soaking Up The Shadow Infventory
Updated Oct. 9, 2013
Soaking Up Shadow Inventory; KBW's Opinion of Gain on Sale Margins; Small Lenders to Increase Share?Decrease Font Size Text Increase Font SizeFeb 4 2013, 8:36AMIf anyone asks you, "Whatever happened to that 'Shadow Inventory' we were all concerned about?" you can respond that part of it is...

Mortgae Rates Jump Past 3.5%
Updated Oct. 9, 2013
 . 30-year mortgage averages 3.53%. Jan. 31, 2013By E. SCOTT RECKARD Los Angeles Times - McClatchy-Tribune Information Services . The typical interest rate for a 30-year fixed-rate mortgage shot above 3.5 percent early this week for the first time in more than four months, according to the widely watched Freddie...

House Democrats Obama Urged to Replace Fannie Mae Regulator
Updated Oct. 9, 2013
A group of House Democrats is urging President Barack Obama to nominate a permanent director for the Federal Housing Finance Agency to replace an acting chief they say is standing in the way of aid for struggling borrowers.. The 45 lawmakers led by Representative Elijah Cummings of Maryland, the top Democrat on...