Category: Banks

By Kevin Chiu Wide ranging investigations into improprieties by U.S. banks and mortgage lenders during the foreclosure process are being conducted in at least seven states, and another 33 states may soon follow suit. Fearing a greater public back lash, politicians who have accepted billions of dollars from mortgage companies and bankers are against foreclosure… Continue reading U.S. May Launch Foreclosure Probes in 40 States

Mortgage rates hit another record low as a 30-year fixed rate loan dropped to 4.27% last week, according to Freddie Mac, indicating that despite their troubles mortgage lenders are getting more aggressive about making home loans. Rates vary from time to time but have been on a two-year slide as the Federal Reserve keeps its… Continue reading Mortgage Rates Rise and Fall

Americans are divided on whether the U.S. government should step into help those homeowners who are suffering through foreclosure at no fault of their own, according to a new Predictor poll. The bail-outs of bankers seem to have little impact on the way people feel about homeowners caught in the trap of the financial crisis.… Continue reading Poll Shows Americans Divided

The brewing storm over the robo signing of foreclosure documents and the resulting halt of foreclosures by four big mortgage lenders could spell another disaster for the housing market. America lured people to a gold rush in properties at the height of its real estate boom and then the banks sold-off mortgages. Now hundreds of… Continue reading Fourth Lender Halts Foreclosures in Robo Signing Storm

By Kevin Chiu Mortgage rates hit a new record low averaging just 4.27% on a 30-year fixed rate loan, according to Freddie Mac. The rate dropped .05 from last week to reach the new mark with an average 0.8 point. The 15-year fixed rate also averaged a new record low at 3.72%, down .03 from… Continue reading Mortgage Rates Hit New Low Record

By Mike Colpitts Home and condo prices have gotten so low in many areas of the country that foreign nationals are buying up property like it’s an old Blue Light sale at K-Mart. American real estate seems like its on sale at bargain basement prices. But whether the spike in foreigners buying property materializes into… Continue reading Foreigners Buying Up US Property

By Diana Swan Former Treasury Secretary Paul Volcker, now a special adviser to President Barrack Obama, says the mortgage industry is dysfunctional and is “a creature of the government” and “that it is the biggest single element missing from financial regulatory reform.” A partnership between mortgage lenders and homeowners at risk of foreclosure could hold… Continue reading Partnership May be Mortgage Market Solution