Articles from March 2011

Citadel to shut Residential Mortgage Funds Division

Citadel the leading global financial institution is set to close down a Residential Mortgage Funds Division. Citadel LLC Citadel – quote – The closure is reported to be due to the departure of Bill King, the portfolio manager. Some clients in the $200 million mortgage fund for U.S. investors wanted to take out their money […]

US 30 Year Mortgage Back Under 5 Percent

One more minor downward notch on US 30 Year Mortgage Rates see the rate back under 5%. US 30 Year Mortgage Back Under 5 Percent The downward shift is due to world turmoil! The revolt upheaval in the Middle East, the riots in London, the Tsunami in Japan and topping off these select few is […]

US Housing Market poised for another Set Back

The out of control revolt and turmoil in the Middle East and the impact of the Japanese earthquake and tsunami look set to impact indirectly as the US Housing Market poised for another Set Back The hard facts are somewhat startling in a matter of only days the USA barrage on Libya has cost somewhere […]

February US House Sales Lowest on Record

Breaking news US house sales for February 2011 are the lowest figure on record February US House Sales Lowest on Record Here is a clip from an International Business Times report – quote – This statistic is alarming.  For one, it means new home sales levels are now worse than during the height of the […]

Adjustable Rate Mortgage ARM Comebacks into the Housing Market

Making a comeback are ARMs after vanishing during the housing market crash Adjustable Rate Mortgage  ARM Comebacks into the Housing Market Here is the official news – quote –  “Far from as popular because, if you look at the height of the housing market, Adjustable Rate Mortgages accounted for about 70 percent of all the […]

US Mortgages Flat Lining in March 2011

Another slow week for the US House Mortgage Market US House Mortgage Market Here are the figures from the The Mortgage Bankers Association – quote – U.S. mortgage activity increased slightly in the week ending March 18, as long-term rates were mixed. Interest rates for 30-year, fixed-rate mortgages rose from 4.79 percent to 4.8 percent […]

American Mortgage System Federal Government Changes Afoot

The Federal Government and its cohorts Fannie Mae and Freddie Mac could soon start to dilute the control they influence on the American Mortgage System Official Report – quote – The thinking is that the government cannot sustain its role in the housing finance system. Federally backed loans make up an outsize share of home […]

Bank of America Mortgage Modification Program for Military Customers

Bank of America Corp this week announced a mortgage modification program for military customers, which will include principal forgiveness for some struggling borrowers Bank of America More details from the Bank of America – quote – The Charlotte bank said the program assists military members who are leaving active duty and having trouble making their […]

US Mortgage Applications Rise 16 Percent in Keen Market

In the biggest advance since June 2010 the US house market saw a 16 percent increase in mortgage applications last week US Mortgage Applications The Mortgage Bankers Association issued this report – quote – The Mortgage Bankers Association’s index of loan applications surged 16 percent in the week ended March 4, the biggest gain since […]

50 State Probe into Mortgage Foreclosure problems nears Settlement

The Iowa Attorney General expects imminent settlement in Mortgage Foreclosure case. Consumer Financial Protection Bureau – CFPB Here is a quote from the Iowa AG Reuters – Iowa Attorney General Tom Miller said that along with federal regulators, states will now begin negotiating a settlement with banks and gave two months as a rough timeline […]