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Lenders Articles

Posted on October 29   By Peter Andrew
Whether you're looking for your first home loan or you're one of those super-savvy serial refinancers who have been through the process many times, you still have the same problem: How do you source the best mortgage deal possible for you today? There isn't a simple answer to that, but exploring your options might save you some serious sums. Best mortgage lenders? No such thing… True, some mortgage lenders are generally better than others, but the one that's going to meet your particular .... Read More...
Posted on February 26   By MLP Blog
WASHINGTON — Fannie Mae and Freddie Mac have made progress toward correcting financial weaknesses, but tight government supervision is needed as the mortgage giants emerge from accounting scandals, a federal regulator said Thursday. James B. Lockhart, director of the Office of Federal Housing Enterprise Oversight, also disclosed that Fannie Mae, which just last month announced a restatement of $6.3 billion in profit for 2001 through mid-2004, had a loss in the third quarter of 2006. He d.... Read More...
Posted on February 26   By MLP Blog
The Oregon Department of Consumer and Business Services on Thursday announced changes to its regulations of the mortgage lending industry. The state agency said the changes - which include adopting new rules and guidelines and increasing education and enforcement efforts - are in response to consumer and industry concerns. The agency's Division of Finance and Corporate Securities adopted new rules, effective Thursday, that implement more stringent education requirements for mortgage professional.... Read More...
Posted on February 13   By MLP Blog
Across the country, thousands of people are losing their homes because payments on their subprime loans have increased to the point that they can't afford the loans. But in Massachusetts, where foreclosure filings have nearly doubled during the past year, the governor is asking lenders to give homeowners more time. The move follows a recent protest at Gov. Deval Patrick's office by homeowners who said their loan officers and mortgage brokers lied to them about the interest rates they would pay o.... Read More...
Posted on February 13   By MLP Blog
Jeffrey Taylor and his wife bought their dream home in Purcellville for $538,000 last August. Now they have to sell it because they are getting divorced and neither one can afford the mortgage alone. The most they could get for it was $430,000. After paying all the real estate commissions and taxes, they will still owe the bank $118,000. "Five months later, I lose $100,000," said Taylor, a high school teacher. "I don't think I can take $100,000 into the stock market and lose it faster." Such a s.... Read More...
Posted on February 13   By MLP Blog
Hearings by the Senate Banking Committee and by the House Financial Services Committee into the much-publicized troubles in the U.S. mortgage market have called attention to a problem that could ultimately affect a wide swath of consumers. Here’s what you need to know: WHAT HAPPENED The Mortgage Bankers Association reported in mid-March that mortgage delinquencies in the fourth quarter of 2006 rose to 5 percent of the overall mortgage market. Worse, loans entering foreclosure in the same p.... Read More...
Posted on February 13   By MLP Blog
Your mortgage application may trigger an avalanche of annoying credit offers. If you’re in the market for a mortgage or a new home, here’s something you’ll probably want to know: Even just shopping for a loan may bring you a huge response from potential suitors trying to solicit your business. And unfortunately, the Federal Trade Commission, which keeps an eye on consumer-credit affairs, doesn’t think it has the authority to do much about it. The Washington Post recently .... Read More...
Posted on February 13   By MLP Blog
WASHINGTON Mortgage giant Freddie Mac said Tuesday it will no longer buy high-risk home mortgages that it deems to be highly vulnerable to foreclosure. The surprise move came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates. The government-sponsored company, which is the second-biggest financer of home loans in the United States, said it will begin using stricter standards for mortgages that it buys — including limiting the use of .... Read More...
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