Ouch! Where is the Money?

Leaf_1_2 The mortgage industry is tightening up. This is long over due but is adding a new twist to the real estate transaction ... provision prohibits "negative amortization loans," or mortgage loans in which the amount owed on the loan ... from making or arranging a new mortgage loan to refinance a so-called "special mortgage" unless [more...]

Date: 2007-10-03 05:50:09
Blog: St. Paul Real Estate...

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Countrywide’s big refinance promise

Countrywide Financial Corp. is a giant in the mortgage-lending business. The company, in fact, originates more mortgage loans than does any other ... out of the loan when the mortgage market was healthier. Then there are the lenders. Most mortgage ... who are facing serious jumps in the interest rates on their mortgage loans, it’s a big deal [more...]

Date: 2007-10-24 10:57:01
Blog: propertycrossroads.com...

I’m going to look at Mercedes C280 tomorrow…

It has always been my dream to be able to drive my own luxury car. Don’t get me wrong, I’m really just a simple guy ... of a Mercedes C280. Since I incorporated my car payment through my mortgage loan, the SUV is already paid ... . car payment, loans, mortgage loan, refinanceRelated PostsIt’s the end of September - - I’m ready [more...]

Date: 2007-09-29 18:44:19
Blog: Cheezmizan with Chuva ...

Soothsayer of Sub-prime Scandal Says It's Not Over

John Head doesn’t like to say, “I told you so.” But the Denver real estate attorney who was the soothsayer of the terrible affects of aggressive, ... to folks who couldn’t afford them. It continued with the packaging of bad loans into mortgage-back ... billions in mortgage loans to people you knew couldn’t afford the payments would eventually bite someone [more...]

Date: 2007-08-31 15:31:48
Blog: Colorado Confidential ...

I want them alive... No modifications!

I've been thinking a lot about loan modifications, which is basically when a bank voluntarily agrees to alter the terms of a loan, and here I'm talking about a mortgage loan, in an attempt to avoid foreclosure ... mortgage loans which have been securitized either cannot be modified, there are severe limitations [more...]

Date: 2007-10-24 13:59:19
Blog: Accrued Interest...

Your Take: Impact of Subprime Lending Meltdown

If you haven’t been reading about the “subprime lending meltdown” lately, ... If you were looking to get a jumbo mortgage loan, a loan greater than $417,000, then you’ve been affected ... and it turns out that American Home Mortgage held his mortgage loan (AHM recently laid off 90 [more...]

Date: 2007-10-03 13:55:08
Blog: Blueprint for Financial...

Mortgage loans should be given selectively

With the property market picking up, many people are looking into new investment opportunities ... , they do not hesitate taking up mortgage loans from the financial institutions.  This is all fine when times are good ... .  They could find themselves in trouble because they are unable to service their mortgage loans [more...]

Date: 2007-10-25 23:14:21
Blog: My what nots...

MORTGAGE LENDERS PREFER FORECLOSURE TO HELPING HOME BUYERS PAY OFF LOAN

SF GATE - Mortgage lenders rarely help homeowners struggling with rapidly increasing adjustable mortgages, ... to the survey said that loan modification - adjusting a mortgage's terms to make it more affordable ... , a statewide alliance that promotes access to credit. The second-most-common result was a short sale [more...]

Date: 2007-10-13 01:42:14
Blog: PROGRESSIVE REVIEW INDE...

Deceptive Mortgage Advertising: It’s a No Brainer

You’ve probably seen the television ads claiming that no cost mortgage refinancing is “a no brainer ... when the loan is sold. Your mortgage broker simply acts as an agent reselling loans for a wholesale lender ... . So what about these companies claiming to offer no fee mortgage loans [more...]

Date: 2007-10-24 00:35:36
Blog: Mortgage Refinance Info...

The Dangerous Disconnect Between Home Prices and Fundamentals

Jul 09, 2007 -- Today's home prices can best be described as a recession in the making, but are most often referred to as a bubble ... loosened credit regulations, and encouraged risky mortgage products like interest only loans, negative amortization loans and ARM loans. This made it easier to get a mortgage, but admittedly much harder [more...]

Date: 2007-08-22 18:36:46
Blog: CRIMES AND CORRUPTION O...

Refinance and save with a government backed FHA mortgage!

If you have a variable rate mortgage or sub prime mortgage loan then you will want to refinance out of these loans right away ... it has become on many homeowners to qualify into mortgage loan. With the major problems in the housing market [more...]

Date: 2007-10-24 07:31:03
Blog: Stevenwbuehler.us ...

Nonprime Servicers, RMBS Downgraded

Fitch Ratings announced downgrades to 20 classes for $106 million of First Franklin Mortgage Loan Trust issuances ... by Fitch for downgrading nearly $18 billion in conforming and nonconforming loan-backed IndyMac Home Equity Mortgage Loan Asset-Backed Trust SPMD, Series 2004-A. Fitch lowered Option One’s residential [more...]

Date: 2007-10-24 09:49:14
Blog: debtfreeblog.info...

Mortgage rates are prime

Interest rates have been bouncing around during the past month and those seeking Loans that will suit their purpose may be ... for our mortgage loan this past Spring there were options to do a fixed or adjustable rate, or rates ... what type of loan you are looking from a standard home equity line of credit or refinancing your [more...]

Date: 2007-10-24 14:09:30
Blog: Rogers emall consumer g...

Needing A Loan

I am so excited for our friends. They just refinanced their home mortgage loan and are now able to add some much needed space. This mortgage loan was much needed. They have a very large family. The extra space will allow ... 4! There were a few times when they were tempted to get a cash advance from a payday loan business [more...]

Date: 2007-09-23 04:29:11
Blog: The Pond...

Now even the scientists are saying we're screwed with the subprime mess

Subprime problems signal trouble ahead, research shows If it seems as though sub-prime mortgage loans stirred up trouble in the financial ... the sub-prime mortgage loans have caused a great deal of market volatility, the current situation ... just home building. Going forward, the inability to get home loans could affect consumer spending [more...]

Date: 2007-09-19 22:45:32
Blog: CRIMES AND CORRUPTION O...

Applying For Mortgage

Increasing, people with home loans or mortgages are finding it harder to pay up their home loans ... to understand their financial situation well, do your sums before getting into a home loan agreement with the banks. The only way to prevent yourself from being entrapped by a home loan that you can’ [more...]

Date: 2007-10-26 03:39:39
Blog: tangsanctuary.com...

Bill Cracks Down on Stated Income Loans

Lack of income documentation on securitized subprime mortgages would allow borrowers to rescind the loan and recover transaction costs under a ... national standard for mortgage originations that applies to all lenders and mortgage brokers ... a mortgage to avoid penalties. To qualify for the safe harbor, the loans must meet four basic standards [more...]

Date: 2007-10-23 17:14:41
Blog: All the latest mortgage...

Recent Financing Choices

Chuck noted yesterday that mortgage "funny money" is still available, in particular the 95% LTV neg-am option-arm mortgage starting at 1 ... . How did the eight get financed? 1. 90% loan with Amerisave Mortgage 2. 90% loan with private ... .5% for purchases. How many buyers are choosing this loan? Here's what was found on the tax [more...]

Date: 2007-10-25 14:57:45
Blog: bubbleinfo.com - Journa...

Letter: Be wary of reverse mortgages

If the government is willing to insure and ensure any reverse mortgage loan with a financial mortgage lender will be paid off so that elderly, needy folks can remain in their homes, why do we need a third party in on the deal? Specifically, reverse mortgage firms that are not the financial backers. Those firms send you their pretty [more...]

Date: 2007-10-24 11:20:09
Blog: Reverse Mortgage Loan B...

More troubles for housing

New data released today portend continued weakness for housing ... and rating standards on subprime and other nonconforming (such as "no-doc" and "jumbo") mortgage loans ... be securitized at present, lenders have either stopped making nonconforming mortgage loans altogether [more...]

Date: 2007-09-25 21:53:12
Blog: Econbrowser...

The Subprime Mortgage Disaster: Loan Sharks Wreak Havoc on Main Street and Wall Street

By Jim Hightower Hightower Lowdown Wednesday 22 August 2007 One of the most dramatic stories from the New Testament is of the time that Jesus ... . The subprime schemes are run through an intricate, intertwined system of loan brokers, mortgage lenders, Wall ... a dark alley of homeowner financing called the "subprime mortgage market." The what? [more...]

Date: 2007-08-23 19:38:51
Blog: Welcome to Pottersville...

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...

That distant subprime cousin: How you're related

Rubegoldbergbillcollectors Speaking of the complexity of funding mortgage loans (see previous post) ... RMBS," Moody's analysts explain. "The complexity of these exposures, with the subpirme mortgage loan ... , Moody's Investors Service has a report out on the risk the subprime mortgage meltdown could pose [more...]

Date: 2007-09-25 21:33:14
Blog: Inman News Blog...

Foreclosure Homes In Florida

Buying a home from out of Foreclosure Homes in Florida is an excellent chance offered on a platter for every home shopper ... had borrowed mortgage loans from financial institutions like Banks, federal agencies like Freddie Mac ... and pocketed the extra profit they were lucky enough to realize. The borrowers of mortgage loans of huge [more...]

Date: 2007-10-25 13:19:12
Blog: Foreclosure Listings Bl...

0% mortgage?

You hear all the time about people using taking unsecured debt and turning it into secured debt (by using home equity loans to pay off credit cards) ... world where nothing goes wrong? According to Dinkytown’s Mortgage Loan Calculator, if If I paid ... pay $21,028.43 in interest over the term of the loan and I’d be done with the mortgage in 6 years [more...]

Date: 2007-10-24 11:40:06
Blog: Of pies and bakeries - ...

Geezeo Adds Investments - Only Social Finance Tool To Manage All Finances

Geezeo Boston-based Geezeo has announced the launch of the investment products section which allows users to track their investments from almost ... loans, mortgages, car loans and investment data together. "Automated access to aggregated ... with The Motley Fool to integrate that group's innovative CAPS stock rating service, in which investors [more...]

Date: 2007-10-03 20:28:36
Blog: CenterNetworks - Social...

India: Reverse Mortgage Loan getting good response

MUMBAI: Traditionally in India retirement from active service is usually considered to be the end of active life, ... him at a par with his European or American counterparts. Reverse Mortgage Loan (RML) is essentially ... in the current year’s budget by Finance Minister P Chidambaram of introducing reverse mortgage products [more...]

Date: 2007-10-25 13:59:44
Blog: Reverse Mortgage Loan B...

Find Money to Winterize Your Home

Now that fall is in full swing, it's time to start thinking about battening down the hatches for Old Man Winter ... toward financing energy upgrades. If you need to take out a loan to buy a house or refinance an existing loan, the Energy Efficient Mortgage (EEM) could increase your loan to either help you purchase [more...]

Date: 2007-10-16 18:40:10
Blog: TreeHugger...

FHASecure: A Helping Hand for Those Who Did Not Refinance in Time

This afternoon I received our Mortgagee Letter from HUD with the nitty gritty on FHASecure ... to the reset.   As this is a FHA mortgage, the same basic guidelines apply (debt-to-income ratios, loan limits, FHA mortgage insurance, etc.) except the loan-to-value is greater depending on your area [more...]

Date: 2007-09-08 04:01:13
Blog: Rain City Guide | A Se...

Countrywide lending slides, cuts nearly 5,000 jobs

Related Countrywide Selling Questioned --- Thu Oct 11, 2007 9:38am EDT (New throughout) NEW YORK, Oct 11 (Reuters) - Countrywide Financial Corp ( ... , the company said on Thursday. Mortgage loan fundings totaled $21.2 billion, down from $38.1 billion ... CFC.N: Quote, Profile, Research) funded 44.3 percent fewer mortgage loans in September [more...]

Date: 2007-10-11 18:33:34
Blog: CRIMES AND CORRUPTION O...

Expect More Lawsuits Over Subprime Losses

In Time To Break Up The Credit Rating Cartel I noted that the Teamsters Union was suing Moody's over credit ratings ... "asset-based securities that overwhelmingly derived their value" from home-equity loans, mortgage ... U.S. mortgage pools." Mish comment: I am not a lawyer but if State Street changed its investment strategy [more...]

Date: 2007-10-05 14:04:08
Blog: Mish's Global Economic ...

Late breaking news

Is cell-phone banking safe? Like the idea of using your phone to check your balance, pay a bill or even replace a debit or credit card? ... or stolen. 2nd loan mortgage refinance discount hotel rooms compare saving accounts average household income refinance mortgage loan [more...]

Date: 2007-10-24 08:01:45
Blog: Super Finance Blog ...

The Worst Mortgage In The World and A Look At Creative Mortage Loans (pfblogs.org)

Have you heard of the world’s worst mortgage? It’s this fictional doozy from MSN Money: An interest-only, ... , no documentation, prepayment-penalizing, 3-month LIBOR 40-year adjustable-rate mortgage with a balloon. But even though that loan is fictional, there are some real-life mortgages that may keep you awake at night [more...]

Date: 2007-10-25 17:14:10
Blog: The Ad-Free Personal Fi...

Hu$h, Hu$h, Sweet Rocco

Hu$h, Hu$h, Sweet Rocco September 6, 2007 | Leave a Comment More scandals in New Jersey. It appears that Governor Jon Corzine (D-NJ) ... part time as a mortgage loan officer for Unity Mortgage in Old Bridge, N.J., for at least six months ... Gov. Jon Corzine has been quietly working as a mortgage broker - despite his repeated claims of being [more...]

Date: 2007-09-06 22:38:41
Blog: Stuck On Stupid...

Is grow up is a good thing? I know this question sound silly, but sometimes I do think that I having less happy moment since I’m become adult. Especially, when I started to be a house owner. All kind of Loan and money matters could make me sick. Recently, I have two Mortgage Loans. I’m Refinance one of the home loan 3 years ago [more...]

Date: 2007-10-26 02:06:09
Blog: SQ & Kiki’s Playground ...

The Housing Bust

It had been predicted for 4 years. I have said on numerous occasions, since 2002, that you simply cannot give people with bad credit mortgage loans and think all will be well. You can’t give someone a 4% first year mortgage loan that expands to 8% in five years and think [more...]

Date: 2007-10-24 14:33:04
Blog: Transform Houston...

Banker, Broker, Consumer Lender or Credit Union? Part 2

This is part two in a four part series in which I outline advantages and disadvantages of different types of lending institutions ... your loan process. Part one covered banks. A mortgage broker is an entity that acts as a middleman between a bank or lender (the source of the funds for the mortgage loan) and a homebuyer or refinancing [more...]

Date: 2007-07-06 04:01:50
Blog: Rain City Guide | A Se...

Can the NAR Improve a Buyer’s Financing Experience?

Realtors have to stop complaining about the sorry status of the lending industry. Why? ... capacity when originating a mortgage loan. Steve Berg makes an excellent case on The San Diego Home Blog ... ALL of the big banks and smaller mortgage companies. 2- Insist on loan commitments from originators [more...]

Date: 2007-09-24 03:17:15
Blog: BloodhoundBlog: Real e...

Book Giveaway: Warren Buffet Speaks-Wit And Wisdom From The World’s Greatest Investor.

Hear Ye Hear Ye - Want a free book about Warren Buffet, the “World’s Greatest Investor”? Then you have come to the right place ... of the U.S., you will be required to pay for shipping. Good luck! Sponsored by: Current Mortgage Rates for Mortgage Refinance and Purchase Loans in US. Share This --- Related Articles at My Two [more...]

Date: 2007-09-20 16:36:15
Blog: My Two Dollars...

The Worst Mortgage In The World and A Look At Creative Mortage Loans

Have you heard of the world’s worst mortgage? It’s this fictional doozy from MSN Money: An interest-only, ... , no documentation, prepayment-penalizing, 3-month LIBOR 40-year adjustable-rate mortgage with a balloon. House On Man But even though that loan is fictional, there are some real-life mortgages that may keep [more...]

Date: 2007-10-25 15:41:40
Blog: Money and Personal Fina...

How to Advertise Your House For Sale

permalink | comments (0) What is a Beneficiary Demand? ... their mortgage loan, they proudly marched down to the bank with a suitcase of cash and paid it off ... Buying Mortgage Loan Types ©Big Stock Photo Technorati tag: beneficiary demands [more...]

Date: 2007-10-03 06:00:03
Blog: Home Buying & Selling R...

*Countrywide rejiggers loans

Perhaps sensing some movement from Washington, the Calabasas-based mortgage lender said it would help its subprime borrowers who face huge bumps in ... mortgages. Qualifying borrowers will move into prime fixed-rate mortgages, or into home loans ... "is evidence of the fact that, when it comes to the subprime mortgage crisis, Countrywide has seen [more...]

Date: 2007-10-23 17:21:11
Blog: LA Biz Observed: Busine...

Merrill Lynch Writes Down $8 Billion in Assets!!

Yes. That is $8 Billion with a capital B. That’s a very large chunk of change. To put it in perspective, Merrill Lynch’s total market cap ( ... cap. Wow. This is simply a huge figure and shows how poorly the company understood the mortgage ... to the huge credit bubble (think “liar loans” or “negative amortization” mortgages [more...]

Date: 2007-10-24 15:42:44
Blog: Asset Preservation, In...

President Bush Wants to Expand Mortgage Disclosures

Today’s Wall Street Journal featured an article about the Bush Administration’s plan to expand mortgage disclosures ($) ... of mortgage-broker fees and loan terms, such as whether the interest rate increases ... to do something three years ago but faced so much opposition from the mortgage industry that they shelved [more...]

Date: 2007-09-20 18:14:12
Blog: � AllFinancialMatters...

Housing Loan

As much as we want to try to avoid being in debt and getting a loan, somehow it’s not always possible ... a housing or mortgage loan. Even if you can afford to buy a house with cash, but the procedure is that you won’t be able to buy it without a loan being approved first. Else you will risk to be checked [more...]

Date: 2007-10-18 01:42:29
Blog: MONTESSORIMUM.COM...

Kroszner's Testimony before Congress: Just Jawbone Exercise

Federal Reserve Board Governor Kroszner always manages to say something annoying ... and licensing system for all mortgage loan brokers would help limit the ability of bad actors to move ... securitizers and loan purchasers ('assignees') liable for the actions of mortgage originators." Aha [more...]

Date: 2007-10-25 01:51:57
Blog: Sybil's Star...

Loan sharks wreak havoc on Main Street and Wall Street

August 2007, Volume 9, Number 8 Edited by Jim Hightower and Phillip Frazer The subprime mortgage disaster ONE OF THE MOST DRAMATIC STORIES from ... system of loan brokers, mortgage lenders, Wall Street trusts, hedge funds, offshore tax havens ... mortgage market." The what? Don't be deterred by the finance industry's jargon (which is intended [more...]

Date: 2007-08-22 16:48:02
Blog: CRIMES AND CORRUPTION O...

Mortgage Meltdown

Review, Outlook October 23, 2007 Home foreclosures are picking up speed, ... problem, financial and increasingly political, is that millions of subprime mortgage loans ... today at the so-called “starter” loan rate, but they might fall behind once those rates reset [more...]

Date: 2007-10-24 15:34:35
Blog: CRIMES AND CORRUPTION O...

'I Hadn't Planned to Lose Everything': Congressional Hearing on Predatory Lending

The U.S. House of Representatives' Financial Services Committee held a hearing Thursday night in Minneapolis on the subject of mortgage foreclosure ... ." He went on to discuss the issue of the unregulated, non-FDIC mortgage market, saying that "if only regulated banks made mortgage loans, we might not have this problem -- this is largely a problem [more...]

Date: 2007-08-08 22:14:13
Blog: Minnesota Monitor ...

Wachovia Suing Ameriquest

Wachovia is suing Ameriquest Mortgage for $1 million dollars accusing them of selling bad loans, representing further fallout from a meltdown in the subprime mortgage lending industry. Wednesday ... $129 million for loans in December 2005. But several borrowers were unable to make the loan payments [more...]

Date: 2007-10-23 16:07:09
Blog: Mobile Alabama Personal...

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