ABN AMRO Growth Outpaces General Marketplace, Says Exec
ABN AMRO Mortgage Group, Inc. reported finishing the month ending Aug. 31, 2002, with gains over its July production, again primarily a result of its wholesale mortgage division. Slight year-to-date (YTD) dips within some of its subsidiaries were also reported.
OTS Grants States More Authority Over Lenders
A new rule will allow state regulators to require more consumer protections from non-bank mortgage lenders when it takes effect next year.
I've Fallen And I Can't Get Up
In what has become rather redundant rhetoric, mortgage rates yet again fell to new record lows -- with the 30-year cracking six percent. Tired of reading what seems to be the same article over and over? Well it appears you'll just have to learn to live with it (at least for the time being).
The record number of Americans currently refinancing their mortgages is taking its toll on companies that service real estate loans. Cendant Corporation announced yesterday that it will take a massive write-down of its servicing assets.
Admit it. You're going for Kool and the Gang. But it's OK, just tell everyone that you're going to the Mortgage Bankers Association of America's 89th Annual Convention & Expo for the "Effective Strategies for Critical State Legislative Issues and Regulatory Trends" workshop instead.
Conforming Cash-out Changes
The nation's biggest mortgage player is making some not-so-good changes to its guidelines on cash-out mortgages.
In Re. Heimmermann vs First Union
Mortgage loan originators can breath a collective sigh of relief now that an Alabama appeals court has overruled a previous decision in a case that effectively said that yield spread premiums (YSP's) were unlawful.
Record Rates (Again!)
Mortgage rates yet again reached record low levels, and there is no sign they will head north anytime soon. Faced with rates that some younger folks have never seen before, waves of Americans continue to flock to mortgage lenders for their less fattening piece of the American pie.
Everything is bigger in Texas. Including mortgage fraud. The Lone Star State ranked highest in a recent gauge of fraud activity.
2 Accused In Mortgage Fraud Case
Two Virginia men are accused of using a Virginia title insurance agency to illegally divert loan proceeds for their own benefit. Some of the diverted funds are suspected of having been wired to oversees bank accounts as one of the men was planning to escape.
Refi Rally Raises Record
Last week's record low rates helped drive loan applications to their highest level ever. As rates continue to hover near record lows, the outlook is for more of the same.
The share of Americans paying their home mortgages late increased at a faster pace during the second quarter. FHA loans lead the jump in delinquency.
All-Time Record Production At Countrywide
Loan production at Countrywide Credit Industries, Inc. reached an all-time high last month. While record low mortgage rates have fueled refinances, the company says purchase production is also at an all-time high.
83 Indicted In Cleveland Fraud Scheme
A federal grand jury has indicted scores of people in an Ohio mortgage fraud scheme. Many Cleveland-area employees of a national net branch mortgage brokerage company were involved in the scam.
It's Getting Better All The Time
Mortgage rates headed further into record territory this past week, keeping loan application activity near all-time highs.
MortgageDaily.com Hires Editor
MortgageDaily.com has hired a Dallas-based editor, a move made amidst record readership activity.
Two More Plead Guilty In PinnFund Scam
Two additional defendants have plead guilty in one of the largest fraud cases in Southern California history.
The cost of funds for west coast savings institutions fell, bringing down some mortgage rates with it.
Associates Legacy Put To Rest
Citigroup has settled charges of abusive lending at its finance unit with the Federal Trade Commission (FTC), resulting in one of the largest consumer protection settlements in history.
Citigroup May Settle Predatory Case For $200 Million
Citigroup, Inc. may settle predatory lending allegations with the Federal Trade Commission. Such a settlement would be a record.
Cambridge Realty Capital Companies reported almost $40 million in closings
for the first six months of 2002.
Big Boston Borrowings
Recent commercial mortgage transactions.
The Shores of Brooklyn
Recent commercial mortgage transactions