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Loan demand Soars Due to Historically Low Rates
Loan applications jumped last week as interest rates hit yet another new low, a sign of possible recovery for a housing market that so desperately needs it.
Read More... Wednesday, September 01, 2010
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CoreLogic Launches Short Sale Monitoring Solution to Prevent Fraud
CoreLogic a leading provider of consumer, financial and property information and business services, today announced the lending industry's first short-sale fraud prevention and pricing solution, Short Sale Monitoring Solution.
Read More... Tuesday, August 31, 2010
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Bank of America Blunders Begin To Stack Up
The homeowner states he has paid his mortgage on-time for the nearly seven years he has owned his home. Chris Carpenter and his wife Marilyn purchased their home in 2003, their pride of ownership shined in the manner they maintained this house.
Read More... Tuesday, August 31, 2010
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Wells Fargo Mods Provide Home Payment Relief for Over Half a Million Homeowners
Wells Fargo modifications include more than $3.1 billion in principal forgiveness on select portfolio assets. From January 2009 through July 31, 2010 the company had a total of 520,399 active trial and completed modifications.
Read More... Tuesday, August 31, 2010
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Texas AG Charges Home Loan Servicer With Violating State Debt Collection Laws
Texas Attorney General Greg Abbott today charged Coppell-based American Home Mortgage Servicing Inc. with using illegal debt collection tactics and improperly misleading struggling homeowners.
Read More... Tuesday, August 31, 2010
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14 Years At Club FED For Scamming Lehman Brothers Out of $50 Million In Loans
Ex-mortgage broker gets 14 years in federal prison for a fraud that involved purchasing homes California's high-end neighborhoods and then selling them to phony buyers at inflated prices.
Read More... Monday, August 30, 2010
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HUD Charges Ohio Landlord With Housing Discrimination
The U.S. Department of Housing and Urban Development announced that it is charging Testa Family Enterprises, LTD, owner of Royal Arms Apartments in Ravenna, Ohio, and the complex’s manager with housing discrimination for allegedly refusing to rent certain apartments to families with young children.
Read More... Monday, August 30, 2010
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Freddie Mac Names Subha Barry SVP, Chief Diversity Officer
Freddie Mac today named Subha V. Barry to the position of chief diversity officer. In this position, Barry will lead the company's newly formed Office of Diversity and Inclusion, with overall responsibility for the combined functions of Diversity and Inclusion and Supplier Diversity.
Read More... Monday, August 30, 2010
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Fairway Independent Mortgage Enters Wholesale Market
As secondary market rebounds, growing national lender plans to fill the vacuum created by those who exited the wholesale business; will specialize in FHA lending with select partners
Read More... Friday, August 27, 2010
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Freddie Mac Announced That Delinquencies Fell Again in July
Information release by multiple sources over the past few months show an overall reduction in mortgage delinquencies after multiple years of increasing defaults.
Read More... Thursday, August 26, 2010
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Fannie Mae Announces Offering of New Issue 2-Year Benchmark Notes® Due Septembe
The following is being issued by Fannie Mae (OTC Bulletin Board: FNMA): Barclays Capital Inc., Goldman Sachs & Co., and J.P. Morgan & Co. are the joint lead managers. The co-managers include, Citigroup Global Markets Inc., Jefferies & Co., Loop Capital Markets, Mischler Financial Group, Morgan Stanley & Co., and Vining Sparks IBG, L.P.
Read More... Thursday, August 26, 2010
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Rates Fall To New Low of 4.36 Percent
Mortgage rates fell yet again for the tenth week in a row adding to concerns of the economy continuing to weaken, hitting lows not seen in decades.
Read More... Thursday, August 26, 2010
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C.A.R. reports July median price increased 10.4 %; home sales decreased 20%
California home sales decreased 20.8 percent in July compared with the same period a year ago, while the median price of an existing home rose 10.4 percent from July 2009, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
Read More... Thursday, August 26, 2010
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Western Alliance Bancorp. Announces Closing of $75 Million Senior Notes Offering
Western Alliance Bancorp announced that it had closed its public offering of $75 million in aggregate principal amount of 10% Senior Notes due 2015, at a price to the public of 98.5% of their face value. Gross proceeds from the offering were approximately $73.9 million.
Read More... Wednesday, August 25, 2010
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Federal Judge Gives Ok To Settlement For Countrywide’s ID Theft Blunder
As agreed in the settlement Countrywide now a Bank of America holding must provide free credit monitoring for over 16 million customers whose personal information was exposed.
Read More... Tuesday, August 24, 2010
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Washington Looking At More Fees For Lenders
The President’s team is looking to propose new frees for loans that require federal backing to help with the cost of keeping the lending industry alive through these trying times.
Read More... Tuesday, August 24, 2010
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AIG Pays Back $4 Billion In Tax Payers Money To Uncle Sam
International Lease Finance Corp. raised $4.4 billion in a recent debt offering, unfortunately for them $4 billion of that went to its parent company AIG in order to pay part of their $182 billion bailout back.
Read More... Tuesday, August 24, 2010
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Barclays Bank PLC Agrees to Forfeit $298 Million in Connection with Violations
Barclays Bank PLC, has agreed to forfeit $298 million to the United States and to the New York County District Attorney’s Office in connection with violations of the International Emergency Economic Powers Act and the Trading with the Enemy Act, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division and District Attorney Cyrus R. Vance Jr., of the New York County District Attorney’s Office.
Read More... Friday, August 20, 2010
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MFA Financial Announces 3rd Quarter Preferred Dividend of $0.53125
MFA Financial has declared a preferred stock dividend of $0.53125 per share for the quarter ended September 30, 2010. This dividend is payable on September 30, 2010 to preferred stockholders of record as of September 1, 2010.
Read More... Friday, August 20, 2010
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The Largest Banks Face Up To $180 Billion in Loan Buy-Backs
Fitch Ratings has reported that Bank of America, JP Morgan Chase, Citigroup, and Wells Fargo may be facing demands to buy-back in excess of $180 billion of bad mortgages from Fannie Mae and Freddie Mac,
Read More... Thursday, August 19, 2010
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