Posts belonging to Category Mortgage News

FHA Loan Limits 2015 California

FHA ANNOUNCES NEW LOAN LIMITS TO TAKE EFFECT  THE 1ST OF JANUARY The 2015 FHA Loan limits for highest and lowest cost areas will remain unchanged WASHINGTON – The Federal Housing Administration (FHA) today announced the agency’s news schedule of loan limits for 2015. These loan limits are effective for case numbers assigned on or after […]

Iowa Mortgage Fraud Five Officials Charged

Des Moines Iowa – Five housing officials have been charged with mortgage fraud involving two separate mortgage fraud schemes. Iowa Mortgage Fraud Five Officials Charged US Attorney Nicholas Klinefeldt made this statement – quote –  One indictment charges a broker with wire fraud and making a false statement to a financial institution. It accuses him […]

Obama to Consider Refinance Plan for Mortgages

The beleaguered Barack Obama government are considering to back a refinance plan for US home mortgages. Obama to Consider Refinance Plan for Mortgages Official clips – quote – One proposal would allow millions of homeowners with government-backed mortgages to refinance them at today’s lower interest rates, about 4 percent. – more – Administration officials said […]

H&R Block Inc Agree to modify $115 million of home loans

H&R Block Inc  has been beset with allegations that the company’s former Option One subprime lending unit discriminated against thousands of black and Hispanic borrowers. H&R Block Inc Agree to modify $115 million of home loans Now at last they have taken action and addressed these issues – quote – The settlement calls for H&R […]

Bank of America takes action about Foreclosure Houses moves in the Bulldozer

Nothing is new or surprising in the beleaguered US Housing market so to hear that the Bank of America takes action about  Foreclosure Houses moves in the Bulldozer Seems like one way of dealing with the problem just right off the debt and demolish the property. So I guess that saves all the properties being […]

AG Eric Schneiderman asks Bank of America for Investor Names

The pressure is ratcheting up on the investigations investigating Bank of America Corp’s $8.5 billion settlement with investors over losses in mortgage-backed securities. Attorney General Eric Schneiderman Has requested the names of – quote – the names of various clients — including pension funds, government authorities and charities affiliated with the state — that invested […]

Small Banks being excluded in Mortgage Loans

Small US Banks are being squeezed in the US housing mortgage loans market. Small Banks being excluded in Mortgage Loans Official report – quote  –  Sen. Richard Shelby, the Alabama Republican who is the ranking member on the Senate Banking Committee, raised concerns at a hearing on access to the secondary market for small financial […]

JPMorgan Chase dismiss Mortgage Chief David Lowman

Executive shake up at JPMorgan Chase as out of the exit door goes mortgage chief David Lowman after military personnel were overcharged on loans and other borrowers were improperly foreclosed on. JPMorgan Chase dismiss Mortgage Chief David Lowman More details from JPMorgan – quote – In April, JPMorgan agreed to pay $56 million and to […]

Refinancing make U.S. Mortgage Applications Fall 4% Last Week

Yet another week confirming that the US home mortgage market is  still languishing in the doldrums. Moreover there is no improvement forecast in the short to medium term future. Refinancing make U.S. Mortgage Applications Fall 4% Last Week Here is more news on the refinancing impact – quote – Bloomberg.Com – “Nobody wants to buy […]

American Home Mortgage Servicing to Unlock Home Loans

American Home Mortgage Servicing is pushing the US Treasury to organize a plan to boost principal reductions for up to 1 million homeowners by unlocking home loans from securities. American Home Mortgage Servicing to Unlock Home Loans Official statement – quote – American Home’s chief legal officer, Jordan Dorchuck – more – The plan “should […]