Articles from April 2011



Bank of America News it is all Mortgage Woes

The beleaguered Bank of America in the news yet again but as per usual the news is about dubious banking practices. Bank of America News So what is now going on with this hapless ‘peoples’ (excuse the laughter) banker this time – quote – WSJ – ‘One heart-stopping statistic: Of BofA’s legacy Countrywide mortgages, more […]

Mortgages Online are gaining traction with US House Buyers

Mortgages are often the bane of one’s life of the public as they strive to meet the monthly repayment schedules. Mortgages Online are gaining traction with US House Buyers But to, we assume make life easier for mortgage borrowers a number of mortgage online services are now available and fully operational they include :- 1. […]

U.S. Mortgage Applications Up 5.3 Percent Last Week

Mortgage applications rose for the first time in a month as mortgage enquiries rose 5.3 Percent Last Week. U.S. Mortgage Applications Official Report – quote – The Mortgage Bankers Association’s index of loan applications increased 5.3 percent in the week ended April 15. The group’s gauge of purchases climbed 10 percent to the highest level […]

Multistate Mortgage Foreclosure Group Check unsafe and unsound practices in the processing of Foreclosures

The US house mortgage market takes another ‘twist and turn’ amid allegations of unsafe and unsound practices in the processing of foreclosures, enforcement action has been taken against bank servicers : – Ally Financial, Aurora Bank, Bank of America, Citibank, Citigroup, EverBank, HSBC, JP Morgan Chase, MetLife Bank, OneWest Bank, PNC, Sovereign Bank, SunTrust Bank, […]

Chael Sonnen Mortgage Fraud 24 Months Probation and $10000 Fine

Mortgage fraud is not limited to only big financial houses, individuals often get mixed up the messy US housing market. The latest to be prosecuted for mortgage fraud is Chael Sonnen Mortgage Fraud 24 Months  Probation and $10000 Fine Chael Sonnen an ultimate fighting championship middleweight and one-time candidate for a  seat on the Oregon […]

US Home Mortgage Industry Down to 248,000 Jobs

The US Home Mortgage Industry is in freefall as half the workforce has been laid off in the last five years. US Home Mortgage Industry Down to 248,000 Jobs Here are the official comments the numbers come from the Bureau of Labor Statistics and were compiled by the Mortgage Bankers Association – quote – Employment […]

April 2011 is proving that the US Home Market is still Flat

As breaking news confirm one more time that mortgage rates are back above 5 percent. We take a look at the fundamentals as to why the US housing market is flat. We have addressed these issues many times in the past, but here is the dichotomy the US Government are not focusing on creating millions […]

How will the Mortgage Rates fair Next Week now the Government Stays Open

Do not expect any good news next week, now that news is coming in saying that government workers have lost a week of productivity, due to having to re-direct their workload to make provisions for a government shutdown. How will the Mortgage Rates fair Next Week Typical government rhetoric – we could not work because […]

Mortgage Bankers Association Record 2 Percent Lower Loans Applications

Yet another slow week in the US housing market as loan applications decreased 2 percent in the period ended April 1   The Mortgage Bankers Association’s index of loan applications decreased 2 percent in the period ended April 1. The Washington group’s refinancing measure dropped 6.2 percent MBA comments – quote – “The pool of […]

The Securities and Exchange Commission question the BofA

The Bank of America has spent the last year exchanging letters with the SEO. The correspondence relates to questions asked by the SEO who have pressed for information and expanded disclosure about its reserves to cover the cost of buying back faulty home loans. The Securities and Exchange Commission question the BofA   Given that […]