Mortgage brokers in Washington DC serve as an intermediary between the lenders and the borrowers who are looking forward to taking out a new home loan in the market and help them take out a loan according to their needs so that they don’t have to opt for a refinance in the long run. The entire regulation of mortgageprofessionals in Washington is regulated by the Washington State … [Read more...]
Set up your career as a mortgage broker in Washington – An inside view to the steps
March 21, 2012 By
Californian Busted for Renting Out Foreclosed Properties
February 29, 2012 By
Alfonso J. Salazar of California has been arrested for fraudulently renting out numerous empty foreclosed (and/or unoccupied) homes in the California cities of Brentwood, Antioch, Walnut Creek, and Hercules, to unsuspecting victims. View article: Californian Busted for Renting Out Foreclosed Properties … [Read more...]
NeighborWorks America Revamps HECM Counselor Resources Site
February 29, 2012 By
NeighborWorks America has completed the redesign of its HECM Counselor Resources Web site, located at HECMCounselors.org, now incorporating content and features for both Active and Prospective HUD HECM Counselors. Active HECM counselors can use their log-in and password to use the following features: ►Forums section to discuss topics and share best practices ►Ask the Expert tool ►Ability to … [Read more...]
FHA Takes Measures to Increase Its Capital Reserves
February 29, 2012 By
As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante has announced a new premium structure for FHA-insured single family mortgage loans. FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for … [Read more...]
Joe Mowery Named President of LenderLive Settlement Services Division
February 29, 2012 By
LenderLive Network Inc. has announced that Joe Mowery has joined the company as president of the LenderLive Settlement Services division. See more here: Joe Mowery Named President of LenderLive Settlement Services Division … [Read more...]
FinCEN Seeks Comments on Strengthening and Clarifying Customer Due Diligence Requirements
February 29, 2012 By
The Financial Crimes Enforcement Network (FinCEN) has issued an advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the possible application of an explicit customer due diligence (CDD) obligation on financial institutions, including a requirement for financial institutions to identify beneficial ownership of their accountholders. Click … [Read more...]
CRE Loan Values Continue Steady Improvement
February 29, 2012 By
The Debt Exchange (DebtX) recently released its commercial loan report for January, and the findings indicate that loan values are continuing to rise steadily, following the trend of the past 12 months. According to data from DebtX, values for commercial real estate (CRE) loans stood at 79. View article: CRE Loan Values Continue Steady Improvement … [Read more...]
California Unveils Homeowner Bill of Rights
February 29, 2012 By
California Attorney General Kamala D. Harris has announced the California Homeowner Bill of Rights designed to protect homeowners from unfair practices by banks and mortgage companies and to help consumers and communities cope with the state's urgent mortgage and foreclosure crisis. Joined by Senate President pro Tem Darrell Steinberg and Assembly Speaker John A. Taken from: California Unveils … [Read more...]
America’s Credit and Housing Crisis: New State Bank Bills
February 29, 2012 By
"The long-awaited settlement between 49 state Attorneys General and the big five robo-signing banks is proving to be a major disappointment before it has even been signed, sealed and court approved. Read More: America's Credit and Housing Crisis: New State Bank Bills … [Read more...]
The Bank Bailout’s Ugly Stepsister: Fannie Mae Still Losing Billions
February 29, 2012 By
"The financial sector has had a tough slog in recent years, but the billions of dollars in losses that played out during and after the 2008 crisis have largely passed. That is, of course, except for Fannie Mae and Freddie Mac." See the original article here: The Bank Bailout's Ugly Stepsister: Fannie Mae Still Losing Billions … [Read more...]
Ron Paul Confronts Bernanke: "Do You Buy Your Own Groceries?"
February 29, 2012 By
"Tense stand off as Congressman notes Fed is destroying dollar purchasing power" Read the article: Ron Paul Confronts Bernanke: "Do You Buy Your Own Groceries?" … [Read more...]
Principal reduction isn’t ideal fix for foreclosures, official says
February 29, 2012 By
``Edward J. DeMarco, acting director of the Federal Housing Finance Agency, tells a Senate panel that forcing Fannie Mae and Freddie Mac to reduce the balances on troubled mortgages would hurt taxpayers.'' More: Principal reduction isn't ideal fix for foreclosures, official says … [Read more...]
HARP Shows Pull Even While Refi Applications Dip: MBA
February 29, 2012 By
The refinance share of mortgage applications broke with several weeks of activity by falling below 80 percent last week, even while more borrowers took advantage of the expanded Home Affordable Refinance Program. The Mortgage Bankers Association said in a weekly survey that mortgage application volume contracted by 0.3 percent from the week before, while the index covering it dropped 9.4 percent … [Read more...]
REMN Adds Lisa Marra as Area Renovation Sales Manager
February 29, 2012 By
Real Estate Mortgage Network Inc. (REMN) has welcomed Lisa Marra to their growing Columbia, Md. office See the article here: REMN Adds Lisa Marra as Area Renovation Sales Manager … [Read more...]
GDP Marches to 3% in Q4, Beating Forecasts
February 29, 2012 By
Real GDP – the output of goods and services produced by labor and property located in the United States – increased at an annual rate of 3.0 percent in the fourth quarter of 2011, the Labor Department said Wednesday. In its initial report on fourth quarter GDP, the agency had said the nation’s economy grew at a 2.8 percent pace. Economists had forecast no change in the advance … [Read more...]
Fitch: Top 20 Banks May See $80B in Losses
February 29, 2012 By
The U.S. banking industry will continue to suffer from overexposure to residential mortgage loans for the near future, with the nation’s top financial institutions likely to feel the burn more than others, according to Fitch Ratings. The ratings agency said in a recent research note that it estimates that declines in home equity will lead to more than $80 billion in losses for the top 20 … [Read more...]
Atty. Gen. Kamala Harris ASKS Fannie and Freddie to Stop Foreclosing
February 29, 2012 By
"Did you hear about this? California's Attorney General, Kamala Harris has asked the Federal Housing Finance Agency, or FHFA, which is the government agency that is acting as conservator for failed mortgage behemoths Fannie Mae and Freddie Mac, to stop foreclosing in California until it has conducted a "thorough, transparent analysis of whether principal reduction is in the best interests of … [Read more...]
Md. proposes cap on mortgage interest tax deductions
February 29, 2012 By
"Maryland real estate agents have planned a rally at the State House in Annapolis on Wednesday to protest Gov. Martin O'Malley's proposal to cut the mortgage interest deduction for residents who make more than $100,000." Read the original: Md. proposes cap on mortgage interest tax deductions … [Read more...]
Customers with less than $100,000 in investments and deposits no longer ‘profitable’ for JPMorgan Chase
February 29, 2012 By
In the wake of the financial meltdown, new regulations that limit bank fees and overdraft charges are making it expensive for the nation's biggest bank to service customers with little to show on their ATM slips. View article: Customers with less than $100,000 in investments and deposits no longer 'profitable' for JPMorgan Chase … [Read more...]
eLynx Announces New National Platform From ADS
February 29, 2012 By
Accurate Document Service, Inc., has launched a new national platform. Read More: eLynx Announces New National Platform From ADS … [Read more...]
Severn Promotes Senior Leader to CFO
February 29, 2012 By
Community financial institution, Severn Savings Bank has named a new chief financial officer. Excerpt from: Severn Promotes Senior Leader to CFO … [Read more...]
Goldman gets SEC notice over mortgage securities; MF Scrutiny
February 29, 2012 By
Goldman Sachs Group Inc. Visit site: Goldman gets SEC notice over mortgage securities; MF Scrutiny … [Read more...]
CME Subpoenaed By Federal Grand Jury, CFTC in Probes of MF Global Collapse
February 29, 2012 By
``The CFTC is reviewing CME Group's audit of MF Global before the broker's Oct. 31 bankruptcy, when as much as $1.6 billion in client funds went missing, a person familiar with the matter said last month. The CFTC, Securities and Exchange Commission, Justice Department and bankruptcy trustees overseeing MF Global's liquidation are investigating the possible misuse of client funds.'' View the … [Read more...]
