Mortgage Basic
Mortgage execs charged with accounting fraud
Mar 13th
The Securities and Exchange Commission announced charges Tuesday against three senior executives from the now-defunct Thornburg Mortgage, accusing them of fraudulently overstating the company’s income by over $400 million ahead of its bankruptcy. More >
FHA Lowers Mortgage Insurance Premiums for Home Ref
Mar 6th
The Federal Housing Administration will lower mortgage insurance premiums for borrowers who refinance their loans as part of President Barack Obama’s plan to improve the housing market. More >
Wells Fargo, Goldman face SEC scrutiny on mortgage deals
Feb 28th
Wells Fargo and Goldman Sachs Group said Tuesday they may face federal enforcement action by the Securities and Exchange Commission related to mortgage-backed securities. More >
California may join multi-state mortgage settlement
Feb 6th
With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation’s largest banks, a source said Sunday. More >
Basic living costs in Britain at 20-year high
Nov 1st
According to economists at Oriel Securities, spending this year on non-discretionary items – such as food, utilities, petrol and mortgages – is forecast to account for 67.3pc of household disposable income. Ten years ago, spending on essentials accounted for just 56.6pc of disposable income. More >
Mortgage arrears worsen in Ireland
Aug 29th
Irish residential mortgages in arrears or restructured due to financial distress rose 10 per cent in the second quarter from the previous three months, heaping pressure on the government to come up with a solution for struggling homeowners. More >
Ally’s net income plummets as mortgage woes linger
Aug 2nd
Government-controlled lender Ally Financial Inc. said Tuesday that its second-quarter net income plummeted to $113 million, a fifth of what it made a year ago, as its mortgage arm lost money and its auto unit reported a smaller profit. More >
Get Cash for Paying Your Mortgage?
Jul 11th
Underwater homeowners paying for private mortgage insurance (PMI) on their home loans could qualify for an incentive to stay current on their loans, under an arrangement announced today by one of the nation’s biggest private mortgage insurers. More >
Large swaths of Central Valley under water – mortgage-wise
Jun 7th
There are 10.9 million homes in the United States, or 22.7 percent of all residential properties with a mortgage, that were in negative equity at the end of the first quarter of 2011, according to a new report Tuesday from CoreLogic Inc. (NYSE: CLGX), a Santa Ana-based financial information company. More >
Fed unveils proposal on U.S. mortgage standards
Apr 19th
Lenders would be required to make sure prospective borrowers were able to repay their mortgages before giving them a loan, under a proposal released by the Federal Reserve on Tuesday.
The rule, which is required by the Dodd-Frank financial reform law, is intended to tighten lending standards and combat home lending abuses that contributed to the 2007-2009 financial crisis. More >
