Home Sweet Home

We have been living in our house for two months now. Well, I am on my second mortgage payment anyway. Our mortgage company was great ... they had a mortgage broker bond as required by state law. I think bonding makes sense. It helps to make sure that the company you are using follows the state laws and regulations. Companies, like mortgage [more...]

Date: 2007-10-02 14:49:08
Blog: Key West or Bust...

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Guest Post: My lender is toast- do I need to pay my mortgage now, and to whom?

Today Twist from Housing Doom shares with us some information on an all-to-common question in light of the recent spate of mortgage company closures ... and new servicing companies, mortgage industry members said. Borrowers should make sure they get both ... Star thought it would cover the very pertinent question of “What do I do about my mortgage payment [more...]

Date: 2007-09-11 16:47:26
Blog: Blown Mortgage - Honest...

Tally of Failed Mortgage Companies

Thanks to The Mortgage Lender Implode-O-Meter, we have a list of the mortgage companies that have quit doing business, gone under, ... . GreenPoint Mortgage - Capital One Wholesale 128. NovaStar (Wholesale), Homeview Lending 127. Quick Loan Funding 126. National City Home Equity 125. Calusa Investments 124. Mercantile Mortgage 123. First [more...]

Date: 2007-08-22 15:13:25
Blog: GDAEman...

Banker, Broker, Consumer Lender or Credit Union?

In this four part series of blog articles, I will outline the possible advantages and disadvantages of different types of lending institutions ... : A consumer loan lender that also originates mortgage loans. Credit Union: A cooperative financial ... .  The source of the mortgage funds.  Mortgage Banker: A mortgage company with a state or federal banking [more...]

Date: 2007-06-17 20:34:21
Blog: Rain City Guide | A Se...

10 Mortgage Lessons From 12 Phone Calls

I made 12 phone calls today. 2.5 hours of talk time. Here’s what I learned: All mortgage companies cost the same-ish ... that you should always go with a direct lender? Nope. It just means that the mortgage company might ... appraisal Credit report Lender’s inpsection Mortgage insurance application Assumption Mortgage broker [more...]

Date: 2007-07-18 22:40:14
Blog: Free Money Tips at Bina...

Fun with investment banks: With friends like these...

[Disclaimer: Nothing in this post should be construed as me being critical in any way of Countrywide ... funds that buy packaged mortgages from mortgage companies like Countrywide is experiencing ... knows. The mortgage market is going through a period of significant disruption. CFC believes [more...]

Date: 2007-08-16 06:09:14
Blog: blog.pmarca.com...

Mortgage company halts loans, lays off 1600

California mortgage company halts loans, lays off employees Wed Aug 22, 9: ... the highest level of loan servicing for our bond investors." ... Home Lenders Holding Co., based in San Diego, said it would continue to service its loan portfolio [more...]

Date: 2007-08-22 17:04:20
Blog: CRIMES AND CORRUPTION O...

Hugo Chavez needs to buy Orange County.

As the price of oil hits 80 bucks a barrel, we have spent all our money on foreign oil. Yep, our Equity Markets, Banks, Mortgage Companies and Institutional Finance Groups are dry ... all the Mortgage Companies and fluid Investment and Insurance Markets. Yep, this baby is ready....nothing [more...]

Date: 2007-09-09 05:45:02
Blog: Orange Juice!...

The Power of Outsuorcing Expands to Mortgages

Since outsourcing has gained much popularity in companies and organizations, almost every skill and process can be outsourced now ... , but to include tasks based on particular skillsets. One of them is Mortgage Outsourcing. Infinit-O is a leading company in the Philippines whose services include Mortgage Outsourcing. Leave the implementation [more...]

Date: 2007-09-24 14:46:19
Blog: The DJ who's not a DeeJ...

Suddenly, Default Management and REO Technology Really Matters

HW readers will recall reading on this blog how more than a few niche technology providers on the origination side of the business are looking to ... called NextAce is another example of how mortgage technology companies are now looking to exploit ... , into the foreclosure market. The company said its TitleEDGE REO and Mortgage Default products [more...]

Date: 2007-09-20 02:51:09
Blog: Housing Wire ...

We Could REALLY Use Some Prayer

Are y’all tired of me and my prayer requests yet? *SIGH* This involves our housing situation again. Things have become very urgent ... in. Our references aren’t just from Aunt Betty either! They include that Tampa attorney, the owner of a mortgage company and real estate company, and the owner of a real-estate company and property [more...]

Date: 2007-07-29 23:51:46
Blog: Janne’s Jabberwocky...

Lessons From the Great Depression: A Letter from a former Banking President Discussing the Bubble

August 16, 2007 As we hit record lows with the markets, it is clear that we are entering a correction phase ... , the building-and-loan societies and mortgage companies would quite as well depict the situation.” ... times with the housing decline: insurance companies, mortgage lenders, hedge funds, the auto industry [more...]

Date: 2007-08-17 15:17:17
Blog: CRIMES AND CORRUPTION O...

Thinking of moving to Canada?

Had enough here in the States and thinking of making a move across the border? Or do you already live in Canada? Either way finding out about Canadian Mortgage Brokers could be helpful. It's possible to purchase a home in Canada with a No Down Payment Mortgage. My Canada Mortgage Company has a high approval [more...]

Date: 2007-04-17 15:30:27
Blog: Liberal Common Sense...

Are you looking to buy a home?

My readership stats tell me that over 70% of my visitors come from the US and Canada, ... the big commercial mortgage place, refuse to even speak to you. So if you are interested in Buying ... Mortgage Brokers company that is offering zero down mortgages in Canada. MyCanadaMortgage.com [more...]

Date: 2007-04-15 05:31:16
Blog: of travels and travails...

Mortgage Outsourcing Services in Troubled Times

Infinit-O is a leading BPO company in the Philippines providing back office support primarily for the financial services and healthcare sectors. It is currently expanding its range of Mortgage Loans Processing Outsource services to help mortgage companies across the United States through their current turmoil. Despite the negative news [more...]

Date: 2007-09-24 02:01:27
Blog: VIGNETTES...

Capital One to Get Out of Wholesale Mortgage Business (and Lay Off 1,900)

Just a week ago Capital One did the right thing by changing its policy about reporting true credit limits to the agencies that calculate credit ... for the company. Cap One is eliminating its GreenPoint mortgage company, which specializes in no-documentation and Alt-A loans—mortgages generally sold to people who probably shouldn’t qualify [more...]

Date: 2007-08-20 23:18:37
Blog: Money, Investing, and M...

In the Crosshairs: Wachovia Corp.

Get thee to court: Wachovia Corporation’s exposure to the mortgage mess is getting plenty of attention today — perhaps the most interesting item is ... that 100 mortgage employees at the company’s East Bay locations will lose their jobs ... Mortgage for $5.1 million: Wachovia Corp.’s banking unit has sued Thornburg Mortgage Inc., alleging [more...]

Date: 2007-08-24 19:46:14
Blog: Housing Wire ...

Run Your Life Like a Business

When I finally decided to use a budget, I noticed myself looking at numbers and playing with the figures and trying to maximize interest on money ... mortgage if your debt far outweighs the value of your assets? By doing this you can see just how much ... as that company. How can you bring in more investors (banks, mortgage companies, 0% credit cards, [more...]

Date: 2007-09-18 17:10:16
Blog: Daddy Financials...

"We're Still Doing Them"

The Fauquier Times-Democrat has some news from local mortgage loan companies in Warrenton, Virginia today. "We have mortgages, and we're in a fine position," said Susie Browning, mortgage loan originator for BB&T in Warrenton. "And we're still doing stated income and no-income verification mortgages [more...]

Date: 2007-08-22 14:52:51
Blog: Northern Virginia Housi...

Best Time For Oregon Mortgage Refinance

There are many reasons why people seek to refinance their property ... is an Oregon mortgage refinance company that uses their experience in mortgage and loan products to arrange ... . Some may think that it is unwise to refinance to get cash out for home improvement projects [more...]

Date: 2007-09-21 15:02:09
Blog: She Rambles On ...

First Franklin cuts won’t hit Tarrytown

Plans for job cuts at First Franklin Financial Corp ... Franklin, which it bought last year. The mortgage company has a loan processing center at 200 White ... . will not affect its operation in Tarrytown, a spokesman for the mortgage company’s owner, Merrill [more...]

Date: 2007-09-17 21:15:40
Blog: Business in the Burbs ...

Name that mortgage company founder

Whose thoughts are these, on the mortgage industry credit crunch/liquidity crisis/general freak out: " ... s one of those things that’s going to be beneficial to us in the long run.” No, it's not Countrywide founder Angelo Mozilo. Although Mozilo said for months that Countrywide was going to pick up market share [more...]

Date: 2007-08-16 19:44:27
Blog: Inman News Blog...

Premarket: Thornburg Upgraded

Premarket Friedman Billings Ramsey upgraded mortgage lender Thornburg Mortgage this morning after the company raised $1.4 billion in a loan securitization. The news boosted shares by 6%. The brokerage raised its rating ... the company said it expects third-quarter revenue to come in about 5% below its previous forecast of $500 [more...]

Date: 2007-09-04 13:06:42
Blog: MarketBeat Blog - WSJ.c...

Indian Outsourcers Fear Subprime Ripple Effect

Indian outsourcing firms are hoping the U.S. loans crisis does not worsen, as they are already feeling the effects of a sharp pullback in the processing of mortgages ... is now limited to individual companies that had a reasonable amount of mortgage servicing business," said [more...]

Date: 2007-08-30 15:39:43
Blog: CRM Buyer: CRM News and...

Ameriquest employees admit to scams

A common theme when discussing the sub-prime mortgage implosion is the question: " ... of the mortgage company Ameriquest. Their stories are evidence that the sub-prime shake ... . Russum explains how part of his first day's training at Ameriquest included watching the film [more...]

Date: 2007-05-17 00:31:27
Blog: Zillow Blog - Real Est...

One at a Time

One at a Time 2007-07-27 by Alex Papadimoulis in CodeSOD While looking for a mortgage company to refinance his loan, Evgeny Potashnik came across Australian Mortgage Options. They seemed decent enough; they even had an online loan management site. Curious to see what it offered, Evgeny took a peek… The first [more...]

Date: 2007-07-27 13:00:00
Blog: Worse Than Failure: Cu...

Market Tumbles on More Sub-Prime Worries

Market Tumbles on More Sub-Prime Worries Posted in Bainbridge Island, Investing on July 31st, ... to close on the minus side by 146 points on news that another mortgage company may be in trouble ... back after American Home Mortgage Investment Corp. said Tuesday it hasn’t been able to tap [more...]

Date: 2007-08-01 03:23:03
Blog: The Binary Circumstance...

Subprime mess trickles into Atlanta commercial market

REPORTS ON THE SUBPRIME lending fiasco have focused on the residential real estate market, but the demise of mortgage companies such as HomeBanc Mortgage Corp., SouthStar Funding LLC and Home Capital Inc. [more...]

Date: 2007-09-27 11:01:14
Blog: Daily Report...

NovaStar Auditor Raises Doubt About Lender's Survival

"NovaStar... abandoned plans to raise more than $100 million after its auditor said the company may not survive. The shares fell 16 percent." --- ( ... more pressure on liquidity.'' Mortgage companies are short on cash because demand is dropping, defaults ... '' remaining retail loan operations. NovaStar fell $1.33 to $7.16 at 4 p.m. in New York Stock [more...]

Date: 2007-09-04 21:33:33
Blog: CRIMES AND CORRUPTION O...

Ameriquest to Close; Citigroup Exercises Purchase Option on ACC Capital

Citigroup Inc. said late today that it will acquire the wholesale origination and mortgage servicing business of ACC Capital Holdings as part of a ... that Ameriquest Mortgage Company — the nation’s largest subprime lender during the recent housing boom ... Ameriquest had been listed on the Mortgage Lender Implode-o-Meter as “imploded” since March [more...]

Date: 2007-09-01 02:32:36
Blog: Housing Wire ...

Countrywide’s Internet ad spending spree

The mortgage meltdown that’s wreaking havoc on the markets might have a ripple effect on companies whose livelihoods that depend on Internet ... advertiser during the month of July was the troubled mortgage lender Countrywide Financial (CFC). Nielsen ... of online ads. Could the problems in the subprime mortgage market wind up hurting companies like [more...]

Date: 2007-08-16 19:00:41
Blog: Media Biz ...

FICOs in flux: Think you're prime? Think again.

Good morning. We're big fans of real estate columnist Kenneth Harney, and his column this week is a keeper ... -- a 620 FICO score -- has migrated upward in recent weeks. Some mortgage companies are posting 680 ... . He documents numerous ways in which the mortgage market is tightening, notably a raising [more...]

Date: 2007-08-19 14:42:55
Blog: L.A. Land...

three days of the condo

housing prices dropped significantly last month, the worst fall in decades ... time. the housing slump may be unfortunate for the mortgage companies (see cookie jill's post above about american home mortgage), but the lower prices make it a buyer's market. the skippy's were [more...]

Date: 2007-09-29 07:10:14
Blog: skippy the bush kangaro...

Lifeline?

Time will tell if this is enough: Bank of America Corp. threw home-loan colossus Countrywide Financial Corp. a $2-billion lifeline Wednesday in a vote of confidence that could stabilize the reeling mortgage company. The deal came as cash-starved sub-prime mortgage lenders across Southern California [more...]

Date: 2007-08-23 11:02:20
Blog: Suburban Guerrilla ...

Businesses Pinched as Loan Spigot Shuts Off

By David Cho and Thomas Heath Washington Post Staff Writers Monday, August 20, 2007; A01 U.S ... mortgage borrowers are causing lenders to question loans going to companies as well. Without a healthy ... . Mortgage giant Countrywide Financial on Thursday had to tap its entire $11.3 billion emergency funding [more...]

Date: 2007-08-20 21:37:49
Blog: CRIMES AND CORRUPTION O...

Mortgage Jobs on the wane

I need to be frank here, on a local level our politicians that desired an end or massive slowing of the housing industry, go their way ... Countrywide May Fire as Many as 12,000 as Mortgage Demand Wanes Sept. 8 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage company, plans to cut its workforce by 10,000 to 12,000 [more...]

Date: 2007-09-09 04:05:52
Blog: Valparaiso Indiana Home...

Mortgage Confusopoly Disintermediated

Adam Shostack finds a company distintermediating the other half of the house buying confusopoly, mortgages: ... profile getting different rates on the same loan, which can happen currently. — SmartHippo.com Launches ... individuals to use the power of a community to save money and make better decisions when shopping for rates [more...]

Date: 2007-09-27 16:26:50
Blog: Perilocity...

It Appears To Me The Banks Are Shooting Arrows. Is this Robin Hood Time?

Wells Fargo was quick on the draw. They raised rates to their brokers more than to their own retail agents. Now is Countrywide following along? ... channel is that the mortgage industry has shifted toward a retail bias. Why? There are many factors ... of the big guys, the Countrywide and Wells Fargo, etc. are going to make the mortgage companies work [more...]

Date: 2007-08-29 20:30:05
Blog: RealEstateUndressed ...

Is reducing The Required FHA Down Payment To 0 or 1.5% Critical?

 These two Senators are leading the charge. The answer to the title question, ... making the current terrific FHA program more readily available to consumers. How many mortgage brokers ... out the three year requirement. Many competent and credible mortgage companies have been started [more...]

Date: 2007-08-20 12:58:03
Blog: RealEstateUndressed ...

Home Energy Usage

The type of home you live in is one of the most important decisions you can make as a consumer ... . In addition, some mortgage lenders and financial service companies have recognized the importance of a home's environmental impact and offer mortgage benefits to buyers of [more...]

Date: 2007-10-01 15:32:11
Blog: TreeHugger...

Are you leaving too much on the table?

I received a phone call from one of the agents I work with who is representing a seller requesting my opinion on another lender’s closing costs ... as though the extra funds are going directly to the Loan Originator and the mortgage company ... and loan amount of $316,800.   The sales price for the home was not bumped up $10,000 to compensate [more...]

Date: 2007-04-18 01:37:59
Blog: Rain City Guide | A Se...

House OKs affordable housing fund for Gulf Coast

Help could be on its way to hurricane-stricken areas of Louisiana and Mississippi thanks to legislation passed yesterday by the U.S. House of Representatives toughening oversight of scandal-wracked home mortgage giants Fannie Mae ... of the portfolio value of the government-sponsored mortgage companies and put it into a fund [more...]

Date: 2007-05-23 19:03:10
Blog: Facing South...

Financial Blood-Suckers

And you thought that credit-card was a GODSEND!!! Ha-ha-ha!!!! This is part of the CORPORATE FASCISM, as they TARGET YOU with their DATABASES!!! Charge away, asshole Amurkns!!!! "Credit card companies woo struggling mortgage-holders ... American LoanPerformance, a San Francisco firm that collects and analyzes mortgage data. Though it seems [more...]

Date: 2007-09-04 19:23:16
Blog: Rock The Truth...

“Everything I see points to lower prices, much lower prices.”

From Bloomberg: Realtors Cut Forecast, Say Slump Will Extend to 2008 The National Association of Realtors reduced its home sales forecast for the ... is worsening amid a surge in credit costs and the collapse of more than 100 mortgage companies after defaults ... , starting in March when subprime problems emerged and more recently when problems spread [more...]

Date: 2007-09-11 21:30:20
Blog: New Jersey Real Estate ...

I believe the market is trying to find it’s correct level

Boy! That stupid fake housing boom!  And man! I’m not even finished writing this on a Friday and boom! Dow falls 280 points over credit worries! ... that? That housing boom was created by loan sharks and fly-by-night mortgage companies and loan originators who made ... and who have good credit. Why is that? Credit is a big concern, therefore, banks [more...]

Date: 2007-08-05 00:00:14
Blog: http://reynaelena.com...

Three Tiers of FICO Score

I work for a really large mortgage company, and as I watch the news of late about defaults rising and home sales stagnating and subprime lending ... we measure a person's credit rating is broken. We use this thing called a FICO score, which is managed ... for that, and a person's FICO score is the backbone of individual financial prowess. Something so [more...]

Date: 2007-08-28 13:11:18
Blog: Brett Rogers :: Iowa Ar...

Interview Answers that Beg for a Follow-Up

Interview Answers that Beg for a Follow-Up September 6th, 2007 by Dan Gillmor CNBC’s Maria Bartiromo interviewed Angelo Mozilo, CEO of Countrywide, the huge mortgage and financial company whose stock has been taking a beating as the housing ... from the company over the years. (Not to mention his $20 million in other pay last year… [more...]

Date: 2007-09-06 14:37:30
Blog: Center for Citizen Medi...

Downturn ad spending: Zig or zag?

With the latest numbers from HUD and the Census Bureau showing home sales continue to slow, will realtors, ... to the company's site, "mortgage and refinance activity was still strong," the story said, while traffic ... mortgage lenders and others in the industry reduce spending on online advertising and leads [more...]

Date: 2007-09-28 00:26:09
Blog: Inman News Blog...

First Day of Chez Moi

I have a true tale of horror. Please look away now as this story is not for the faint of heart ... I had things set up, even after the original five percent down jumped to ten percent. Then the mortgage company pulled the plug on me on the day of the closing. It gets worse from here . . . I had told [more...]

Date: 2007-10-02 17:44:11
Blog: Peter Nellhaus Film Cri...

Edwards Forclosures not going to help him in Iowa

Edwards Forclosures not going to help him in Iowa Sep 27th, 2007 by Darrell The Edwards campaign has a few problems… actually a lot of problems, ... A total of 107 Iowa homeowners were foreclosed upon by subprime mortgage companies owned ... cases bring Edwards’ tie to subprime lending to the leadoff presidential nominating state, where [more...]

Date: 2007-09-27 14:56:07
Blog: Morning Coffee...

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