Mortgage News

A mortgage industry trend that requires appraisers to work in unfamiliar neighborhoods is resulting in serious valuation issues, according to a new blog posted Sunday, Nov.

Even before the recession, more than one in five Americans needed help from family, friends or outsiders to pay for basic needs, according to a survey by the Census Bureau.

As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess.

"Hi. I'm Tom and I'm a compulsive spender." So begins a recent gathering of Debtors Anonymous, a support group for those addicted to overspending.

A federal grand jury in Eugene, Oregon has indicted 13 people on mortgage and loan fraud charges.

State officials went to federal court yesterday to force into bankruptcy two troubled Meredith financial firms.

Kevin O'Connell, 35, of Albany, pled guilty in United States District Court in Albany to a one-count information charging him with the felony offense of laundering of monetary instruments in connection with his role in an extensive mortgage fraud scheme that defrauded financial institutions and other mortgage lenders of over $5.3 million in loans.

Ohio's public pension systems are suing Standard & Poor's, Moody's and Fitch - companies that provide credit ratings for investments.

We are in the midst of the worst economic crisis since the Great Depression. More than 27 million American workers are either unemployed, underemployed or have given up looking for work.

The latest data from the Mortgage Bankers Association reports that a record breaking one in seven (14%) of all households are 30 days or more overdue on mortgage payments or in foreclosure. Mortgage defaults have steadily increased since 2006 and show no signs of slowing - not exactly a good omen for the banking industry. ...

Seven people were arrested Thursday and charged with operating a $142 million mortgage and security fraud that pushed 201 Riverside County homes into foreclosure and harmed hundreds of investors in California and Arizona, driving many to financial ruin.

Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday.

A federal grand jury sitting in Eugene, Oregon, yesterday returned indictments against thirteen individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development , a company previously headquartered in Bend, Oregon.

Banks borrowed slightly less from the Federal Reserve's emergency lending program over the past week, but increased their use of other credit programs designed to ease the financial crisis.

Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

British house prices could retreat in 2010 if unemployment rises sharply, Britain's third-largest mortgage lender Nationwide warned on Friday.

State and federal prosecutors have charged seven people in an alleged securities scam that cheated dozens of people out of $17 million.

Watchdog: Stimulus job creation data flawed A A The government watchdog overseeing economic stimulus spending said Thursday that, in its rush to take credit for saving hundreds of thousands of jobs, the Obama administration was overly confident in its job-counting. updated Nov.

Published by Jon Land for 24dash.com in Housing Thursday 19th November 2009 - 10:05am Mortgage lending up 5% in October - CML Mortgage lending rose by 5% during October as the market continued to recover from its traditional summer dip, figures showed today.

Spanish banking giant Santander is set to launch an assault on the current account market with the introduction of a fee-free account available to mortgage customers.