March 30th, 2010
Despite a lot of media coverage about the difficulty in getting a mortgage after the many new regulations and credit tightening activities of major lenders, there's a mortgage out there for many of those who really want one and need to buy a home. While banks are reporting a return to profitability, they make their [...]
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March 25th, 2010
Senate Banking Committee Chairman Christopher Dodd, D. Conn., is proposing another agency for the federal government. Tentatively calling it the Bureau of Financial Protection, and wanting it to be placed in the Treasury Department, the idea is for this new bureau to supervise banks in the issuance of mortgages, credit cards, and other financial products. [...]
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March 22nd, 2010
Critics of government policy in the housing markets have expressed concern that there will be a need to bail out the FHA someday because of the increase of exposure the agency has experienced recently, as well as increases in late mortgages over 90 days in arrears. These late loans have spiked by 62% according to [...]
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March 19th, 2010
On a quarterly basis, the last quarter of 2009 looked better for home loan defaults. While the third quarter showed 9.64% of all mortgage loans late, the last quarter was down a bit to 9.47%. This is according to the National Delinquency Survey posted by the Mortgage Bankers Association. The significance of the slight reduction [...]
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March 17th, 2010
ARMs, or Adjustable Rate Mortgages, are mortgage loans that are originated at a lower interest rate than a fixed loan, with stated periods when the rate can be adjusted based on interest rates at that time. There are one year, five year, seven year, and other period ARMs, and the ways in which the interest rates [...]
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