Applying successfully Oct 1, 2009
Last Upd: 06:55am 01 Oct 2009. R3,000 free @ Prestige Casino. (iAfrica.com)
Real Estate Outlook: Mortgage Rate Dip Impacts Housing Sep 30, 2009
Finally, the private mortgage insurance industry, which virtually eliminated low-downpayment financing opportunities in many markets during the past year by declaring them "declining" or "distressed," has begun reversing course. Genworth Mortgage Insurance Company last week removed 63 of its 68 previous designations of "declining markets." That should open up non-FHA cash-out refinancings and low-downpayment home purchase mortgages to thousands of people who'd been squeezed out under the old... (RealtyTimes)
Stanford's Wife Susan Sues Her Ex-Divorce Lawyer for $200 Million in Texas Sep 25, 2009
Stanfords Wife Sues Her Ex-Divorce Lawyer for $200 Million - Bloomberg. Updated: New York, Sep 25 04:21 London, Sep 25 09:21 Tokyo, Sep 25 17:21. (Bloomberg -- US)
State veterans home loan rate lowered Sep 22, 2009
There is no primary mortgage insurance (PMI) required. There are no prepayment penalties. (Watertown Daily Times, WI)
A Capital surprise Sep 22, 2009
The program also allows for no origination fee and no private mortgage insurance and can be applied to jumbo loans for homes worth more than $400,000. (Nasdaq: CRFN) in Raleigh also has a builder participation program, though not quite as aggressive. (Triangle Business Journal)
Good credit and solid documentation equal a solid mortgage Sep 20, 2009
75 percent rate with no private mortgage insurance, normally required in purchases with low down payments ... And for those with less than 20 percent, getting private mortgage insurance, generally a requirement for such loans, is harder these days, too ... An alternative is the state agency MassHousing, which has programs that require less than a 5 percent down payment, with limited mortgage insurance fees. (Boston Globe)
ACORN's Illegal Alien Home Loan Racket Sep 18, 2009
In 2005, Citibank and ACORN Housing Corporation -- which received tens of millions of tax dollars under the Bush administration alone -- began recruiting Mexican illegal aliens for a lucrative program offering loans with below-market interest rates, down-payment assistance and no mortgage insurance requirements. Instead of the Social Security numbers required of law-abiding citizens, the program allows illegal alien applicants to supply loosely monitored tax identification numbers issued by the... (Townhall.com)
Change? Yes, it can Sep 16, 2009
With the collapse of the credit default swaps model of mortgage insurance, government mortgage insurance organizations now insure nine out of 10 new mortgages, much as they did in the country's lush good times that saw the development of suburbia in the 1950s. If you buy a new car from General Motors, a life insurance policy from AIG, or a student loan from Citigroup, whether you realize it or not, and depending on how the equity position was structured, you're dealing with a company either... (Asia Times Online)
Timing inspires TrinityCare Sep 12, 2009
William Lammers, acting director of HUD s 232 program in Washington, D.C., says approximately 200 applications for the mortgage insurance are processed annually ... Each mortgage insurance deal is in the pre-application phase with HUD.. (Houston Business Journal, TX)
How to Get an FHA Home Loan? Sep 12, 2009
Without the 20% down payment they are forced to go for private mortgage insurance which can be costly ... Another disadvantage is the upfront mortgage insurance premium (usually 1. (Suite101.com)
Final part: Answers to your housing questions Sep 12, 2009
Because I financed at 100 percent, I also pay private mortgage insurance. I enrolled in a payment plan that takes half the mortgage payment biweekly and consequently I make a 13th principal-only payment each year. (Atlanta Journal-Constitution -- Business)
Supes support 42-bed CON for NG hospital Sep 10, 2009
The hospital plans to contribute $15 million in cash toward the project and hopes to finance the remainder with a FHA/HUD Section 242 mortgage insurance with a Ginnie Mae collateralized loan, or if possible, Build America Bonds. The hospital must first submit a pre-application for the financing and, if approved, the actual application would then follow pending support of the Board of Supervisors. (Philadelphia Neshoba Democrat, MS)
Get sellers to pay closing costs (1) Sep 6, 2009
However, there are many variables that can drive closing costs up, including whether the buyer is required to purchase mortgage insurance (almost universal now where less than a 20 percent down payment is being made) and whether the transaction closes at the beginning of the month vs. at the end of the month (near the beginning, prepaid interest for the rest of that month can add nearly a full month's mortgage payment onto the closing costs). And just FYI -- virtually no lender in America allows... (Lodi News Sentinel, CA)
Positive trends Aug 27, 2009
Without a 20 percent down payment, a home buyer is required to pay for mortgage insurance, which is payable to a lender to offset losses if the homeowner is unable to repay the loan. Appraisals. (Klamath Falls Herald & News, OR)
Mortgage insurers lobby for federal money Aug 20, 2009
A group of mortgage insurance providers including three that are based in the Triad spent $670,000 in the second quarter lobbying for financial aid from the government and on other issues, the Associated Press reported. The AP report said disclosure forms from the Mortgage Insurance Companies of America indicated the group pushed for funding from the Treasury Department that the industry says would help it back more home mortgages to speed the housing industry's recovery ... MICA represents six... (Triad Business Journal, NC)
Adding a Rental Unit to Your Home Aug 18, 2009
"If you buy a house containing a rental unit, you may find lenders or mortgage insurance brokers reluctant to provide funding if it does not meet fire safety standards .when purchasing a home containing a second suite, be sure to request and carefully review documentation relating to permits and inspections required for an authorized unit. Similarly, (if you are selling) consider upgrading the existing unit so that it fits within established standards, as compliance may make your home easer to... (RealtyTimes)
Investor Report: FHA Funding Rules Aug 14, 2009
Charles McMillan, president of the National Association of Realtors, told Stevens that FHA could make an even more significant improvement: Let loan applicants who plan to live in the condo units they purchase obtain mortgage insurance -- even if more than fifty percent of the units in the project are investor-owned or rental. Fannie and Freddie already permit that, said McMillan. (RealtyTimes)
Berkshire Hathaway's 2Q profit jumps 14 percent Aug 8, 2009
This was offset by operating losses of $134 million in the U.S. Mortgage Insurance segment and $71 million in Corporate and Other. Results in the quarter included a $36 million reversal of tax benefits reflected in the first quarter, as required by accounting standards. (Fresno Bee -- Business)
United Guaranty loses $488M for Q2 Aug 8, 2009
the mortgage insurance unit of troubled insurance giant , had operating losses of $488 million in the second quarter, according to AIG's latest earnings announcement. That was about the same level of losses as the Greensboro-based company had in the first quarter when it lost $483 million, and down from a loss of $518 million a year earlier. (Triad Business Journal, NC)
Full Story » Aug 6, 2009
Since 1994, they have handled mortgage insurance fraud, asset protection, trial preparation, corporate fraud, and missing persons cases, as well as armed security for sports figures, executives, dignitaries and actors. For more information about Management Resources Ltd. of New York, call 845-781-7233 or visit their website at. (Yahoo News -- Press Releases)
Making Homes Even More Affordable Aug 6, 2009
Also, if the existing mortgage was written without mortgage insurance, the new loan won't be burdened with the extra cost. Fannie Mae and Freddie Mac loans typically require mortgage insurance when the loan is more than 80 percent of the home's value ... Of course, if the current mortgage has mortgage insurance and the new loan is 80 percent or more of the home's value, mortgage insurance comes with the deal. (RealtyTimes)
`Name and shame' reports begin on mortgage servicers Aug 5, 2009
As unemployment and home foreclosures continue to rise and threaten the economic recovery, the mortgage insurance industry is stepping up its ongoing efforts to keep families in their homes ... In partnership with Fannie Mae and Freddie Mac (GSEs), the mortgage insurance industry is working alongside servicers to modify or refinance troubled loans under the HARP and HAMP programs ... As unemployment and home foreclosures continue to rise and threaten the economic recovery, the mortgage insurance... (Fresno Bee -- Business)
Defaults on Insured Mortgages Rise Aug 4, 2009
Mortgage Insurance Companies of America reported that 88,362 borrowers with private mortgage insurance were at least 60 days late in June, up about 1 percent from May and up 30 percent from June 2008. Mortgages that borrowers brought up date in June totaled 51,908, down 1 percent from May, but up 20 percent from June 2008. (Realtor Magazine Online)
Pulte posts 2Q loss; tax gain boosts Centex in 1Q Aug 4, 2009
Genworth Financial Inc. shares slipped on Friday, a day after the insurer reported worse-than-expected second-quarter results as it was hit by losses in its U.S. mortgage insurance division and investment portfolio ... CEO Michael Fraizer said Friday that even while it is disappointing to post a quarterly loss, the company has seen some signs of improvement in divisions where it was hit the hardest, such as mortgage insurance. (Fresno Bee -- Business)
Pensioners' dual assessment Aug 3, 2009
The Age: national, world, business, entertainment, sport and technology news from Melbourne's leading newspaper. George CochraneAugust 2, 2009. (Sydney Morning Herald -- Business)
New Federal Housing Administration loan assistance Jul 31, 2009
The FHA, which backs about 5 million loans, is a government-run mortgage insurance program ... 5 percent, compared with 20 percent for a typical loan that doesn't require mortgage insurance. (San Francisco Chronicle -- Business)
MicroStrategy Announces Second Quarter 2009 Financial Results Jul 31, 2009
Bayer HealthCare Pharmaceuticals; Bell Canada; Burlington Coat Factory; Cingular Wireless; Citigroup Fund Services Canada, Inc.; Cryptologic, Inc.; CSC Holdings; Danier Leather Inc.; Doctor's Associates, Inc.; Emory Healthcare, Inc.; Family Dollar, Inc.; Fannie Mae; Freddie Mac; Genworth Financial Mortgage Insurance Company Canada; Heartland Payment Systems; Herbalife International of America, Inc.; Interstate Batteries; Jabil Circuit Inc.; La Capitale Assurances Generales; LinkedIn Corporation;... (PR Newswire)
First Time Home Owner's Tips Jul 31, 2009
Mortgage insurance and needs to be in place to protect against property repossession in the event of retrenchment or accidental death. Buildings and contents insurance needs to be factored in. (Suite101.com)
FHA creates loan help plan Jul 30, 2009
The FHA, which backs about 5 million loans, is a government-run mortgage insurance program. It became the main source of home loans to borrowers with poor credit and low down payments after the collapse of the subprime lending market. (Boston Globe)
Washington Report: Expiring Mortgage Limits Jul 27, 2009
The legislation also makes it clear that the government intends to keep the FHA mortgage insurance program humming at high volume. It authorizes up to $400 billion in new FHA loan coverage during the 2010 fiscal year, which begins in September. (RealtyTimes)
Letter: Hispanic festival deemed a success Jul 26, 2009
Other Articles in this Category. Most Commented Stories. (Appeal Democrat, CA)
They bought, should you? Many making their getaway from the rent trap Jul 23, 2009
It assumed borrowers used private mortgage insurance. While the analysis found the gap between what it costs to own and rent is shrinking, it's still too wide for millions who live paycheck to paycheck. (Casa Grande Valley Newspapers, AZ)
BancorpSouth, Inc. Declares Quarterly Dividend Jul 23, 2009
July 22 /PRNewswire-FirstCall/ -- At their regular quarterly meeting on July 22, 2009, the Board of Directors of BancorpSouth, Inc. (NYSE: ) declared a quarterly cash dividend of $0. The dividend is payable October 1, 2009 to shareholders of record at the close of business on September 15, 2009. (PR Newswire)
Grants, donations brought it back Jul 23, 2009
Grants, donations bring back the Strand. Search post-gazette NOW. (Pittsburgh Post-Gazette, PA)
1-in-5 Aussies worry about losing job Jul 21, 2009
Genworth, which sells lenders mortgage insurance, identified the trends of rising joblessness and delays in mortgage repayments in its report. The 90-day arrears rate has climbed 25 per cent between January and May, a period when the unemployment rate increased from 4. (Sydney Morning Herald -- Business)
Moody's may downgrade MGIC Jul 18, 2009
Milwaukee-based MGIC (NYSE: MTG) on Thursday announced a restructuring of its core mortgage insurance operations that includes reviving a subsidiary to write new mortgage insurance policies starting Jan. 1, 2010. After the MGIC announcement, downgraded the insurer financial strength rating of Mortgage Guaranty Insurance Corp. to BBB- from BBB and placed it and the long-term debt and senior debt ratings of on "Rating Watch Negative.". (Milwaukee Business Journal, WI)
Foreclosures slow in local market Jul 17, 2009
PMI Mortgage Insurance Co., (NYSE: PMI), today released its Second Quarter 2009 Economic and Real Estate Trends Report, and its widely cited U.S. Market Risk Index(SM). The quarterly report projects the likelihood that the nation's housing prices will be lower in two years. (Fresno Bee)
Guest opinion: Writing insurance a privilege, not a right Jul 12, 2009
I guess they think socialized mortgage insurance is OK.. How many of us get our flood insurance through the U.S. government. (Montana Standard, MT)
Understanding those closing costs Jul 12, 2009
These include property insurance, property taxes, prepaid interest and private mortgage insurance. Closing costs are further divided into three aspects. (Anchorage Daily News)
Government-insured mortgages skyrocket Jul 11, 2009
"In addition, lending standards tend to be tighter for conventional loans, especially for loans that require private mortgage insurance.". Reader Comments. (Pittsburgh Business Times, PA)
VA Specialty Lender Airs Radio Spots to Inform Vets Jul 10, 2009
VA-eligible borrowers can borrow to purchase homes with no money down and no mortgage insurance. And they can refinance loans with cash out of up to 100% of their home's equity. (Yahoo News -- Press Releases)
Job-Loss Mortgage Insurance: Terms, Conditions, Eligibility Jul 9, 2009
Job-loss mortgage insurance is available from a host of sources and policies vary in coverage, cost, benefits and requirements, so you'd better shop around. Simply put, for policy holders, job-loss mortgage insurance pays your mortgage when you lose your job -- to a point ... Facing job loss without mortgage insurance. (RealtyTimes)
Obama's Broken Promises: Higher Taxes, Massive Debt Jul 9, 2009
"They understand that at some point tax increase are going to be necessary across the board. "Yes, for the middle class, too," he added. Obama made a firm tax pledge during the presidential campaign, repeating it numerous times in the weeks and months leading up to Election Day: no tax increases for individuals making less than $200,000 a year or couples making less than $250,000. "Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes," Obama told a crowd... (Newsmax)
MGIC Investment Corporation Amends Shareholder Rights Agreement Jul 8, 2009
MGIC (), the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $223. 9 billion primary insurance in force covering 1. (PR Newswire)
Genworth Canada, Magma Shares Fall in First Day of Trading Following IPOs Jul 8, 2009
the mortgage insurance unit spun off by Genworth Financial Inc., fell in the first day of trading on the Toronto Stock Exchange. Shares of the Oakville, Ontario-based company dropped 61 cents, or 3. (Bloomberg -- Canada)
Harmony Mills project moves to next phase after long delay Jul 8, 2009
The developer, Uri Kaufman, said the U.S. Department of Housing and Urban Development has approved mortgage insurance on a construction loan worth up to $20. 3 million. (Albany Business Review, NY)
Click for Live Support Jul 5, 2009
Today's job-loss mortgage insurance is a growth industry spawned by the recession. Once only the domain of traditional insurers, the coverage is now available from a variety of sources. (RealtyTimes)
Job Loss Mortgage Insurance: New Sources Jul 3, 2009
Simply put, for policy holders, job-loss mortgage insurance pays your mortgage when you lose your job -- to a point ... Today's job-loss mortgage insurance has become a growth industry spawned by the recession ... He says buying job loss mortgage insurance may be a sign you haven't taken care when buying a home in the first place. (RealtyTimes)
Cheating still beats real work Jul 2, 2009
When, last December, mortgage giants Fannie Mae and Freddie Mac agreed to abide by HVCC rules with their mortgage properties, with Fannie and Freddie now possessing unprecedented dominance over the market with the collapse of private mortgage insurance, HVCC, scheduled to go into effect on May 1 of this year, became the appraisal industries' law of the land. HVCC is simplicity itself - honesty usually is. (Asia Times Online)
New mortgage rules could help more borrowers Jul 2, 2009
Normally, Fannie and Freddie require borrowers to pay for mortgage insurance when their loan exceeds 80 percent of the home's value. Freddie Mac said that under the new guidelines, mortgage insurance is not required if the existing mortgage does not require it ... Otherwise, it said, mortgage insurance on the new loan must be the same as on the original mortgage. (San Francisco Chronicle -- Business)
Genworth Announces Pricing of Canadian Initial Public Offering Jun 30, 2009
June 29 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: ) announced today that its Canadian mortgage insurance subsidiary, Genworth MI Canada Inc., has priced its initial public offering in Canada of 44 ... Genworth operates through three segments: Retirement and Protection, U.S. Mortgage Insurance and International. (PR Newswire)
Framingham's Civic League rejects sale offer Jun 28, 2009
By Dan McDonald/Daily News staff. Sat Jun 27, 2009, 04:52 PM EDT. (Framingham TAB, MA)
Negotiations to sell Framingham Civic League building hit brick wall Jun 27, 2009
Fri Jun 26, 2009, 12:37 PM EDT. Negotiations between the Framingham Civic League and MassBay Community College to buy the nonprofit's 214 Concord St. home have apparently unraveled. (Framingham TAB, MA)
L. Nash Allen, Jr. Retires as BancorpSouth Treasurer and Chief Financial Officer; Completes 40 Year Career with Mississippi-Based Financial Holding Company Jun 25, 2009
June 24 /PRNewswire-FirstCall/ -- BancorpSouth, Inc. (NYSE: ) announced today the retirement of L. Nash Allen, Jr. from his position of Treasurer and Chief Financial Officer of the Company, effective June 30, 2009. Allen joined BancorpSouth in 1969 as a management trainee after graduation from the University of Mississippi and service as an officer in the U. S Army. (PR Newswire)
Renting out 2nd home has challenges Jun 23, 2009
Sunday, June 21, 2009. Q: My husband and I purchased a second home for $300,000 in November. (San Francisco Chronicle -- Business)
Smaller Homeowner Bailout Already In Place Jun 23, 2009
The amount can include a financed 3 percent "Upfront Mortgage Insurance Premium" and other loan costs ... 5 percent annual mortgage insurance premium. (RealtyTimes)
NAR: FHA Market Share Must Be Supported Jun 20, 2009
A large portion of today s home buyers would be unable to realize their dreams of homeownership without the Federal Housing Administration s mortgage insurance program, NAR says ... As the leading advocate for homeownership, NAR strongly supports FHA s single- and multi-family mortgage insurance programs, and we have worked diligently with Congress to fashion housing policies that ensure federal housing programs meet their mission responsibly and efficiently, NAR President says. (Realtor Magazine Online)
Obama May Expand Refinancing Plan to Buyers Who Owe More Than Home's Value Jun 20, 2009
Under the program, borrowers with loans owned or guaranteed by Fannie Mae or Freddie Mac who have loan-to-value ratios of 80 percent to 105 percent and arent delinquent can refinance without buying mortgage insurance, or paying for more insurance than they already have. Expanding the program to a 125 percent loan-to-value level may benefit about 10 percent of borrowers that have loans backed by Fannie Mae or Freddie Mac, according to , a mortgage strategist for Credit Suisse in New York. (Bloomberg -- US)
Ore. communities added to housing program Jun 17, 2009
The rural development program is attractive to buyers because it allows them get a house with no money down, and no requirement for private mortgage insurance. A program recipient doesn't need a great credit score, but must be able to show steady income. (OregonLive, OR -- News)
Investor Report: First Time Home Buyers Jun 5, 2009
But they can use the cash advances from lenders on closing costs, mortgage insurance premiums and to buy down their interest rates. For more information on the monetization feature, check out HUD's website. (RealtyTimes)
The PMI Group, Inc. Ratings Raised by Standard & Poor's Jun 3, 2009
The ratings upgrade returns the rating differential between the Company and PMI Mortgage Insurance Co. (the primary operating company) to the standard three-notch gap ... Company Rating Insurer Financial Strength PMI Mortgage Insurance Co. BB- (stable) PMI Insurance Co. BB- (stable) PMI Mortgage Insurance Company Limited BB- (Watch Negative) (PMI Europe) ... Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. (PR Newswire)
Local experts find fault with HUD's home buyer program Jun 3, 2009
However, HUD-approved non-profit groups may front cash to be used for closing costs, mortgage insurance and any additional down payment on top of the 3. 5 percent. (AZCentral -- Business)
Renasant Tennessee Chairman Frank Cianciola Announces Retirement Jun 2, 2009
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Nutt leaves United Guaranty Jun 2, 2009
William Billy Nutt has left his position as CEO of , the mortgage insurance unit of troubled insurance giant ... Like others in the mortgage insurance business, it has been hit hard by the nationwide housing bust. (Business Journal of the Greater Triad Area)
PMI Amended and Restated Credit Agreement Becomes Effective May 31, 2009
Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products ... heightened regulatory and litigation risks faced by the financial services industry, the mortgage insurance industry and PMI ... the risk that Fannie Mae and/or Freddie Mac (collectively, the "GSEs") determine that we are no longer an eligible provider of mortgage insurance. (PR Newswire)
