Mortgage, Real Estate, US Real Estate

Credit Unions Enter Mortgage Market

By Allison Halliday | July 11, 2011
Traditionally credit unions have been used for lines of credit and car loans, but now they are entering the mortgage market. Although their rates are not amazingly competitive, they do have the advantage of being able to offer lower fees and more flexible terms. Some have quite relaxed membership rules, so that this source of […]
Mortgage, Real Estate, US Real Estate

Corrupt Mortgage Exec. Lee Farkas Jailed For 30 Years

By Mike Wheatley | July 4, 2011
A man labelled as the mastermind behind one of the biggest ever mortgage lender fraud schemes was jailed for 30 years last week. The case of Lee B. Farkas, who was the chairman of the Taylor, Bean & Whitaker mortgage firm, represents the largest prosecution so far relating to the financial crisis which began in […]
Mortgage, Real Estate Technology, US Real Estate

Short Sale Incentives For Cash-Strapped Homeowners

By Mike Wheatley | June 29, 2011
Two of the nation’s biggest lenders are giving away cash rewards to struggling Florida homeowners who agree to stave off foreclosure by doing a short sale instead, according to reports in the Florida Sun-Sentinel.   Wells Fargo and JP Morgan Chase haven’t made any official announcements about the initiative, but indebted homeowners have reported that […]
Mortgage, Real Estate, US Real Estate

How Soon Can You Buy After Foreclosure?

By Mike Wheatley | June 27, 2011
What with the millions of former homeowners sitting around twiddling their thumbs following foreclosure or a short sale, many of them might be wondering how soon they will be able to get back into the real estate business. One article that recently caught our attention in the New York Times attempted to answer that question, […]
Mortgage, Real Estate, US Real Estate

Refinancing Homeowners Choosing to Build Equity

By Allison Halliday | June 17, 2011
While millions of US homeowners are refinancing in an effort to cut costs, there are a growing number who are building equity by raising their repayments. It makes perfect sense if you can afford it, as some people are shaving several percent off their newly negotiated equity release interest rates, making it possible to pay […]
Mortgage, Real Estate, US Real Estate

Deadline Extended For Banks To Revamp Foreclosure Practices

By Mike Wheatley | June 15, 2011
Federal regulators have given the nation's 16 leading mortgage lenders another month to work out how they are going to tackle the widely publicized problems they are facing with loan modification and foreclosure procedures. Mortgage lenders and servicers were initially given a 45-day deadline by federal regulators to come up with their plans - a […]
Mortgage, US Real Estate

NY and Delaware Probe Trustee Banks

By Allison Halliday | June 14, 2011
The Attorney General of New York, Eric Schneiderman, has requested more information from a number of financial institutions as part of an ongoing investigation into the way mortgages were sold to investors. Eric Schneiderman’s office has requested documents from the Bank of New York Mellon Corp and Deutsche Bank, as it continues to look into […]
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