Originator Claims Success From Financial Counseling
One Washington mortgage originator reports increasing his production by counseling borrowers about wealth-building using a mortgage.
Doses of Falling Rates Fail to Stimulate Refi Recovery
Even as mortgage rates continued to drift lower, the recent refinance boom showed no sign of recovery.
Business Purchases Jump at Freddie
New business purchases increased for one of the country's secondary mortgage lenders.
RESPA Police Out in Force
The federal government is increasing the enforcement muscle of a law designed to protect consumers in real estate transactions while cracking down on predatory lending.
Interest Only ARMs All the Rage
When interest rates go up the ARMs come out.
E-LOAN TV Ad Blasts Brokers
Some mortgage brokers are crying foul over their industry's depiction in a television commercial being run by Internet lender E-LOAN.
Freddie Touts Prospector Success Stories
Five mortgage professionals received the Loan Prospector service award for using the automated loan approving service to assist homebuyers.
Rates, Apps Down
While mortgage rates have improved for the second week in a row, loan applications showed no sign of recovery.
Hearings Signal Bush Proposal Gaining Steam
Momentum is building in Washington to strengthen the regulation of Fannie and Freddie as the Bush Administration outlined its proposal last week to create a new agency with broad enforcement powers in the Treasury Department to oversee the safety and soundness of the GSEs. The current regulator, the OFHEO, which resides in the HUD, has been called by many in Congress and the administration a weak and inadequately funded regulator.
$15 Million Warehouse Line Filled With Fake Loans
An alleged Florida con man fingered for heisting $15 million in sham real estate deals. A dead woman with drugs in her system and bruises on her body. Money stashed in offshore accounts.
Volume Off at Fannie
Business volume decreased for a national secondary lender last month.
ABN AMRO Production Slumps
Another major mortgage lender saw its fundings fall.
With interest rates heading north, state regulators across the country are cracking down on bogus promises of mortgage rate locks being made to consumers.
Mortgage Market Rebounds
Amidst a gloomy near-term outlook for the mortgage industry, rates improved and applications increased.
September 11: Two Years Later
MortgageDaily.com Publisher Recounts September 11
The attacks on America two years ago impacted the mortgage industry in a dramatic way.
90-Day Accounts Drive Rise in Mortgage Delinquency
A bad economy and the war in Iraq were factors affecting a rise in mortgage delinquency, according to the second-quarter National Delinquency Survey released by the Mortgage Bankers Association of America Wednesday.
WaMu Stung By Rising Rates
In a Form 8-k filing with the Securities and Exchange Commission, Washington Mutual Inc. warned that it expects a loss in the third quarter from sale of mortgage loans as a result of "imprecisions in our tracking of loan commitments."
Flagstar Fundings Fall
One of Michigan's largest banks reported that August mortgage fundings were off by about a quarter, while its gauge of future business was off by nearly half.
Countrywide Fundings Tumble
One of the nation's largest mortgage lenders saw its production fall from the prior month's record level.
Fidelity Mortgage Unable to Meet WA Rate Lock Commitments
Rising rates have left some borrowers with worthless rate locks from an Arizona mortgage lender.
July Mortgage Employment Up Slightly
While the government reports that the number of Americans working in the mortgage industry increased, this employment sector is beginning to show signs of contraction.
Rising Rates May Stay Put for Now
Mortgage rates, which have recently risen to their highest levels in more than a year, may have hit a ceiling for the moment.
Many Ways Parents can Help in Property Purchase
Industry commentary by Dave Hershman: Gifting, co-purchasing & co-borrowing provide options.
Online Lenders Confirm Layoffs
Market conditions and rising interest rates have resulted in layoffs at two Internet mortgage brokerage companies, E*Trade and DiTech.
Bucking the Trend
While rising fixed rates have left the refinance market decimated, the 11th District Cost of Funds Index has fallen again to its lowest point in decades.