Mortgage fraud defendant gets 7 years Nov 10, 2009
For each property, Gonzalez directed an appraiser to significantly inflate the property s value and submitted the inflated price to a lender to support a mortgage loan based on that price. Gonzalez also submitted fraudulent financial documents and information, including altered bank statements and payroll records, to cause the lender to approve a loan for a higher amount. (Jacksonville Business Journal, FL)
Joe Montana puts Sonoma County estate on market Nov 10, 2009
Anyone with a pulse got a mortgage loan and jumped onto the real estate bandwagon. CALISTOGA, Calif. (Fresno Bee -- State)
Phillies mania ends with a whimper Nov 6, 2009
Tim Swaney, a 36-year-old mortgage loan officer from Newark, mostly works from home, but Yankees fans he knows harassed him. "It's been a bad day," he said. (The Clarion-Ledger)
Firm Capital Mortgage Investment Trust Announces Strong Third Quarter Results Nov 6, 2009
When, in management's opinion, collection of principal on a particular mortgage investment is no longer reasonably assured, the fair value of the mortgage investment is reduced to reflect the estimated net realizable recovery from the collateral securing the mortgage loan ... The Canadian Accounting Standards Board (AcSB") confirmed that the adoption of IFRS would be effective for the interim and annual periods beginning on or after January 1, 2011 for Canadian publicly accountable... (CCNMatthews Press Releases)
Home loan rate hike inevitable Nov 5, 2009
Taking into account implied costs set aside for credit default ranging from 20 basis points (bps) to 30bps, coupled with overhead costs (agents commission and fees) another 30bps, net yield gain on a mortgage loan was merely 1 ... However, he said, Public Bank Bhds mortgage loan volumes might dwindle but the reseach house expected higher rates should more than neutralise this impact. (The Star Online, Malaysia -- Business)
NH gets $136M financing plan for hospitals Nov 5, 2009
The mortgage loan was issued to LRGHealthcare n Laconia, a not-for-profit corporation that owns Lakes Region General Hospital in Laconia, Franklin Regional Hospital and the office in Meredith ... By insuring the mortgage loan, FHA is enabling the hospital to obtain lower cost financing, saving an estimated $18. (Concord Monitor)
Class-action suit targets WaMu securities Nov 4, 2009
Following the issuance of the certificates, disclosures began to emerge revealing the routine disregard for the guidelines in mortgage loan origination of the collateral underlying the certificates, the suit alleges. After WaMu s troubles began to mount in 2007 and early 2008, the price of the certificates dropped from a face value of $1 to about 66 cents, according to the complaint. (San Jose Business Journal, CA)
Mortgage rates start to climb Nov 4, 2009
Malayan Banking Bhd president and chief executive officer Datuk Seri Abdul Wahid Omar said the bank had already revised its mortgage loan because he said the current rate of mortgage loan in the country was too low ... In the current financial year, Maybank recorded a 7% growth in mortgage loans. (The Star Online, Malaysia -- Business)
New heights for Singapore property Nov 4, 2009
What Mah apparently overlooked was the impact of longer mortgage loan periods. In the 1980s, maximum loan tenures were set at 20 years. (Asia Times Online)
James Michael Rawson Nov 3, 2009
Throughout his life he worked in the banking business and especially enjoyed the mortgage loan department. Mike enjoyed being with people and brought joy and energy with him wherever he went. (St. Joseph Herald-Pallidium, MI)
Postseason buzz carries Phillies fans through late nights Nov 3, 2009
Tim Swaney, a 36-year-old mortgage loan officer from Newark, said the sleep-deprivation portion of the postseason is not the problem. (2 of 2). (The Clarion-Ledger)
Kingdom of the Netherlands—The Netherlands 2009 Article IV Consultation: Preliminary Conclusions Nov 3, 2009
The large mortgage loan portfolio, dominance of non-amortizing mortgages, and high loan-to-value ratios are important financial sector vulnerabilities. Households also have a significant exposure to housing price developments. (IMF News)
Explore all the options of reverse mortgage Nov 1, 2009
Unless you own the home free and clear, the proceeds must also pay off any existing mortgage loan. Currently more than 90 percent of the reverse mortgage program funds, commonly called Home Equity Conversion Mortgage, are federally backed by the Department of Housing and Urban Development. (Anchorage Daily News)
MCT exclusive series: How Goldman Sachs secretly bet on the housing crash Nov 1, 2009
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to others before a flood of mortgage loan defaults staggered the U.S. and global economies ... Goldman's sales and its clandestine wagers on falling home prices, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to... (Fresno Bee -- Business)
Goldman's secret bet on housing crash Nov 1, 2009
Goldman's sales and its clandestine wagers on falling home prices, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to others before a flood of mortgage loan defaults staggered the U.S. and global economies. Only later did investors discover what Goldman promoted as triple-A investments were closer to junk. (Albany Times Union)
The answer to fixing the financial crisis? Restore regulation Nov 1, 2009
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to others before a flood of mortgage loan defaults staggered the U.S. and global economies. Only later did investors discover that what Goldman promoted as triple-A investments were closer to junk. (Fresno Bee -- Local)
Failed Wallace development site for sale — again (1037) Oct 31, 2009
edumacation wrote on Oct 29, 2009 3:35 PM:" Dogs4You- Last week it was widely reported in the financial press that we are already seeing foreclosures among houses sold in the past year! They made apoint about a recent immigrant with one minimum wage job and two part time jobs, bought an FHA house, all legally, but she now owes 40% more than she paid for the house (a fixer). In one month!! Her monthly PITI is 56% of her monthly take home!! This is outrageous! What will happen if her plumbing or... (Lodi News Sentinel, CA)
Sallie Mae to take $85M to $95M loss Oct 30, 2009
Two wholly-owned Sallie Mae subsidiaries, GRP Loan LLC and GRP Strategies LLC, sold substantially all of their mortgage loan and real estate assets to DLJ Mortgage Capital Inc. on Oct. 26 for $278. 7 million. (New Mexico Business Weekly, NM)
Washington Report: GFEs Oct 28, 2009
For example, due to potential confusion about the role of mortgage brokers in providing borrowers with upfront Good Faith Estimates of mortgage loan costs - and their binding effect on mortgage lenders not to exceed those estimates - the groups warned that many lenders would stop accepting loans from brokers. The groups cited a lengthy series of other problems in their letter to Stevens as well. (RealtyTimes)
Consumers Use Meltdown to Reduce Debt Oct 28, 2009
Mortgage loan expert First American CoreLogic estimates that about 9. 3 percent of the country's 52. (Realtor Magazine Online)
K-Fed Bancorp Announces 1st Quarter Earnings Oct 28, 2009
As a result of the weak economy and depressed housing market, our one-to-four family mortgage loan portfolio has shown increased delinquency. Delinquent loans 60 days or more totaled $13. (Primezone Releases)
Sen. Dodd Seeks Rate Freeze on Credit Cards Oct 28, 2009
His ties to the financial services industry and a loan program at the former Countrywide Financial Corp. have hurt his standing with voters, despite being cleared of violating Senate ethics rules in the mortgage loan issue. Dodd has responded by embracing consumer issues that he has previously advocated for in the past. (SmartMoney)
Mortgage madness Oct 27, 2009
Those fixated on old reflationary dynamics look today at tepid US housing markets, mortgage loan growth, consumer spending, and employment trends and see ongoing deflationary pressures. The Fed is wedded to the old and is positioned poorly to respond to new reflationary dynamics. (Asia Times Online)
Credit Disputes Could Bar Home Loans Oct 27, 2009
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
How a Bad Credit Mortgage Broker Ca... Oct 27, 2009
An Effective Way to Get a Bad Credit Home Mortgage Loan. Looking for a bad credit home mortgage loan due to poor credit ... A bad credit mortgage broker can help a homeowner to identify the most affordable bad credit home mortgage loans. (Suite101.com)
Get Approval for the Best IVA Mortg... Oct 27, 2009
An IVA mortgage is a specialist bad credit mortgage loan ... Once released from the agreement, a bad credit home mortgage loan could help to reduce home mortgage payments ... The new bad credit mortgage loan must not affect the applicant's ability to pay their Individual Voluntary Arrangement (IVA). (Suite101.com)
Betty Fisher Oct 27, 2009
Created:Monday, October 26, 2009 8:10 p.m.CDTFONT SIZE. Fisher will be responsible for the real estate lending function for the company;s Princeton location. (Princeton Bureau County Republican, IL)
Deeds recorded in Volusia County Oct. 5-9 Oct 25, 2009
Bank of America, Merrill Lynch First Franklin Mortgage Loan Trust and Home Loan Services Inc. to Christopher L. Howe, lot 29, Blue Lake Woods, $151,900. D.R. Horton Inc. to Gregory M. and Sheila R. Mitchell, lot 97, Alexandria Pointe, $148,500. (Daytona Beach News Journal -- Business)
U.S. House Committee To Subpoena Countrywide Records Oct 24, 2009
Early on, Towns was forced to concede that he received a mortgage loan from Countrywide, but he insisted that he received no preferential treatment. More recently, a Republican staffer videotaped Democrats leaving a private meeting that effectively killed a Republican effort to force a vote on a Countrywide subpoena. (FOX61, CT)
* Hong Kong targets surge in luxury property prices Oct 24, 2009
The Hong Kong Monetary Authority (HKMA) said yesterday it would cap the mortgage limit for luxury property at 60 percent, down from 70 percent, and limit mortgage loan values ... But what were concerned about is, given the very sharp rise in prices in this top segment of the property market, the risk, or credit risk, to these mortgage loans to these properties has increased. (Taipei Times, Taiwan -- World)
Calif. Campaign Against Loan Modification Misconduct Claims 3 Attorneys' Licenses Oct 23, 2009
The resignations came just weeks after Gov. Arnold Schwarzenegger signed a new law prohibiting attorneys from collecting an advance fee for residential loan modification and mortgage loan forbearance services. In most cases, the lawyers who received complaints were accused of accepting fees but not doing the modification work on mortgage loans ... In recent months, Parsa has been advertising his legal services to help homeowners facing foreclosure modify their mortgage loans, the Bar said. (Law.com)
Central Jersey Bancorp Reports Operating Results for Third Quarter of 2009 Oct 23, 2009
The decrease in loans held-for-sale is due primarily to the timing of residential mortgage loan closings. Loans, net of the allowance for loan losses, totaled $371. (Primezone Releases)
READ: Wells Fargo's press release Oct 22, 2009
1 billion in revenue from mortgage loan originations/sales activities on $96 billion of residential mortgage originations ... In addition, the Company continues to explore the sale of certain interests held in securitized residential mortgage loans, which would be expected to reduce further the amount of incremental GAAP assets and incremental risk-weighted assets ... Several factors could cause actual results to differ materially from expectations including: current and future economic and... (USA Today -- Money)
Net income drops at Renasant Oct 22, 2009
Mortgage loan production declined during the third quarter of 2009 compared to the record levels achieved during the second quarter of 2009, the bank said in a news release. Gains from the sale of mortgage loans increased $480,000 to $1. (Birmingham Business Journal, AL)
Flushing Financial Corporation Reports 2009 Third Quarter Earnings Increase of 65% to $0.33 Per Diluted Common Share; Core Earnings Increase of 3.7% to $0.28 Per Diluted Common Share Oct 21, 2009
The yield on the mortgage loan portfolio declined 36 basis points to 6 ... The yield on the mortgage loan portfolio, excluding prepayment penalty income, declined 26 basis points to 6 ... This increase in non-performing loans primarily consists of mortgage loans collateralized by residential income producing properties located in the New York City metropolitan market. (Primezone Releases)
FHLB Dallas and Liberty Bank of Arkansas Award HELP Grant to First-time Homebuyer Oct 21, 2009
"Liberty Bank is proud to be a part of such an awesome program," said Shelia Kelton, Mortgage Loan Officer at Liberty Bank of Arkansas. "Assisting homebuyers with their first home purchase is rewarding, and Liberty Bank embraces the opportunity to give back to our community through homeownership.". (Primezone Releases)
Editorial: Rating agencies peddled junk Oct 20, 2009
That system, however, was thrown out the door in favor of a new system where no one had a stake in the success of a mortgage loan. Lenders marketed loans that required little or no down payment and little or no documentation of income and assets. (Sacramento Bee -- Opinion)
Foreclosure sales for Oct. 19-23, 2009 Oct 18, 2009
Sabr Mortgage Loan 2008 1 Reo Subsidiary 1 Ll v. Rafael Del Barco, et al, 114 Adele Ave., Daytona Beach, single-family residence. National City Bank v. Richard Divoll, et al, 946 15th St., Unit 201, Holly Hill, condo. (Daytona Beach News Journal -- Business)
Fifth Thirds August loans total $5B Oct 18, 2009
Mortgage loan originations, meanwhile, hit $1. 5 billion for August, driven by approximately $1 billion in refinancing and more than $550 million in new home purchases. (Cincinnati Business Courier, OH)
Deeds recorded Sept. 28-Oct. 2, 2009 in Volusia Oct 18, 2009
Deutsche Bank National Trust Co., Harborview Mortgage Loan Trust, American Home Mortgage Servicing Inc., Russell Matthew, Russell Cheryl, lot 3, Unit II, Opal Hill at LPGA International, $169,900 ... Wells Fargo Bank, Option One Mortgage Loan Trust 2007 2 and American Home Mortgage Servicing Inc. to Patricia A. Schwarze and Patricia A. Schwarze Trust, lot 14, St. Johns Gardens, $119,000. (Daytona Beach News Journal -- Business)
Northeast Bancorp First Quarter Results Show Increase in Net Earnings Oct 17, 2009
"This strategy has put us in a strong position, during a time of economic uncertainty when many people are turning to community banks for advice, products and services. "We are pleased with our earnings for the first quarter, and we believe that we are well positioned to thrive in the marketplace going forward," Delamater said. Excluding amortization of customer lists and intangible expenses, net income available to common stockholders per diluted share was $0.24 for the quarter ended September... (Primezone Releases)
Buying a Home FHA vs. Conventional ... Oct 17, 2009
What are the qualification requirements for a mortgage loan modification versus a mortgage loan refinance. The copyright of the article Buying a Home FHA vs. Conventional Loan in is owned by. (Suite101.com)
Blame Collapse On Blind Faith In 'Good Thing' Oct 15, 2009
The problem is that there exists no effective way to prevent people from 'getting more home than they could afford' when the lending standards are loosened as per the CRA and Democrat pressure to lower mortgage loan standards, even though against LW faith-based economic orthodoxy. . (Investors Business Daily)
Is insurance rule a relic of 1913 flood? Oct 15, 2009
While researching and planning the purchase, the brothers found they'll pay an unexpected additional cost for choosing to live in that part of the city: about $2,000 a year for mandated flood insurance if they secure an FHA-backed mortgage loan. They were surprised to learn that, according to Federal Emergency Management Agency maps last updated nearly 30 years ago, the house is located in a 100-year flood plain, also known as "Flood Zone A.". (Albany Times Union)
Down payment facts Oct 14, 2009
A 'down payment' simply put is the difference between the purchase price of a property and the mortgage loan amount. It underlines the buyer's commitment to complete the deal and indicates the buyer's fidelity in making the loan payments. (India Times)
Pacific Property gets $33.8M in Millbrae sale Oct 14, 2009
Marshall DeWolfe, senior director of , helped the buyer in assuming a combined first and second mortgage loan of $23. 8 million for the acquisition. (San Jose Business Journal, CA)
GOP N.J. governor candidates expenses probed Oct 14, 2009
Christie made a mortgage loan to Brown five days after they returned from Boston, on Oct. 22, 2007. He failed to report the loan on federal ethics forms and on his 2007 federal income tax returns, omissions he later described as a mistake. (MSNBC -- Politics)
Tips to Cope with Rising Mortgage I... Oct 12, 2009
There are many mortgage loan products in the market. Lenders structure products to suit various types of clients. (Suite101.com)
Foreclosure activity continues to rise in Tampa Bay Oct 10, 2009
First American CoreLogic is a member of (NYSE: FAF) company group and is a provider of real estate, property and ownership data as well as advanced analytics for information on foreclosures, delinquencies, median home prices, home prices indexes, home valuations, sales activity and mortgage loan originations. Most Read Stories. (Tampa Bay Business Journal, FL)
Attorney General Announces Arrest In Mortgage Scam Oct 9, 2009
Thomas F. Gentile age 56 and Julio C. Martinez age 61 are accused of attempting to obtain a mortgage loan against a property owned by Gentile's former employer without the knowledge or consent of the former employer. An arrest warrant has also been issued for a third suspect, Justin M. Sabo age 30, of Huntington Beach, California, whose whereabouts are unknown at this time. (KLAS-TV.com, NV)
Navigating Through the Mortgage Morass Oct 9, 2009
Applying for and obtaining a mortgage loan used to be a routine matter. Not any more. (Townhall.com)
LEGAL TAX DEED NO. 06 TX 1 (17) Oct 9, 2009
U.S. Bank National Association, as Truestee for the Specialty Underwriting and Residential Finance Trust Mortgage Loan Asset-Backed Certificates Series 2006-BC3 60 Livingston Avenue, Corporate Trust St. Paul, MN 55101. Collection Professionals, Inc. c/o Melinda G. Sammons 206 Marquette St., Suite 303 LaSalle, IL 61301. (Princeton Bureau County Republican, IL)
Lender halts local foreclosures Oct 8, 2009
Until the workshop is complete, we will not move to foreclosure sale any Wells Fargo Home Mortgage or Wachovia mortgage loan in the Atlanta area, he said. And, if we find an option that may work for a customer at the workshop, we ll push back the foreclosure date even further until the option can be fully explored. (Atlanta Journal-Constitution -- Business)
* A smart initiative for the elderly Oct 7, 2009
Applicants can apply with financial institutions for a mortgage loan based on the value of their house ... Aside from adopting this mortgage loan concept, Taiwan could also adopt the zero net present value concept. (Taipei Times, Taiwan -- World)
Want to consolidate debt? Think about the total cost Oct 7, 2009
If you own your home and have equity, you can take high-interest debts and incorporate them into a new, low-interest mortgage loan. That will reduce your monthly payments immediately. (Lompoc Record, CA)
Check out the risks of defaulting on your car loans? Oct 6, 2009
Probably the next big thing on your monthly budgets after the mortgage loan is the car loan. And you would not want to default on this for obvious reasons. (India Times)
Midwest BankCentre lending under fire Oct 6, 2009
hasn t approved a mortgage loan to a black borrower in five years, a coalition of community organizations said in a letter to the ... The alliance said it gathered data through the Home Mortgage Disclosure Act showing that the bank has not approved a single mortgage loan to an African-American borrower from 2004 to 2008, despite receiving applications from blacks ... In contrast, 355 mortgage loan applications from white borrowers were approved from 2006 to 2008, the alliance said. (St. Louis Business Journal, MO)
Federal Mortgage Assistance Program... Oct 4, 2009
Homeowners that can t make their monthly mortgage loan payments due to financial hardships, may be eligible for the or HAMP. This federal mortgage assistance program is part of the Obama Administrations Making Home Affordable Refinance Program ... Mortgage Loans Backed by Fannie May and Freddie Mac ... k.a. mortgage servicer) that offer home mortgage loans may be reluctant to a loan modification. (Suite101.com)
New Miami incentives target vacant homes Oct 3, 2009
The buyer must also be pre-approved for a first mortgage loan, be able to afford the monthly mortgage payments and cannot currently be a homeowner. Applicants do not have to be first-time homebuyers. (South Florida Business Journal, FL)
The Making Home Affordable Refinanc... Oct 3, 2009
President Obamas Mortgage Loan Modification and Refinancing Plan ... What are the qualification requirements for a mortgage loan modification versus a mortgage loan refinance ... The current mortgage loan must be owned or guaranteed by Freddie Mac or Fannie May. (Suite101.com)
Atlanta housing seminar set Oct 2, 2009
The city of Atlanta has $79 million in mortgage loan money to distribute by the end of the year and wants to help potential homebuyers gain access to it. A free housing opportunity seminar will be held at City Hall Oct. 3 from 8:30 a.m. until noon to explain how to qualify for loans of up to $50,000 toward the purchase of homes inside 23 empowerment zones throughout the city. (Atlanta Business Chronicle, GA)
HUD will insure Kaleida project Oct 2, 2009
2 million mortgage loan to finance construction of the new institute. The backing comes through the s Section 242 Hospital Mortgage Insurance Program. (Buffalo Business First, NY)
Freddie Mac goes door to door to help Sep 30, 2009
A campaign has been launched by to urge delinquent borrowers to apply for help in getting mortgage loan modifications under the federal Making Home Affordable Program. The government-controlled mortgage buyer has hired to go door-to-door to meet with delinquent borrowers at their homes and help them supply missing information, documents and complete other actions needed to begin their three-month trial payment periods loan modifications to avoid losing their homes. (Denver Business Journal, CO)
Home foreclosure help arrives in the Valley Sep 30, 2009
If you go*What: Foreclosure-prevention workshop by the Departments of Treasury and Housing and Urban Development*When: noon to 7:30 p.m., Wednesday*Where: The Hilton Stockton, 2323 Grand Canal Blvd., Stockton*What to bring: mortgage loan documents, paycheck stubs, tax returns, information on other loans*Who will be there: Representatives of banks, credit counselors, language translators for Spanish, Hmong, Lao and Vietnamese*Details: www. makinghome affordable. (Fresno Bee)
Is it Morally Wrong to Default on a Mortgage? Sep 30, 2009
Among those who were surveyed, the immorality (or the seriousness of it) of walking away from a mortgage loan had a lot to do with the circumstances. If a home were only (only. (RealtyTimes)
