Office Of Thrift Supervision Looks at Mortgage Lending Practices and Risk Levels

According to John M. Reich, director of the Office of Thrift Supervision, speaking at the New York Bankers Association meeting recently, the mortgage industry is taking too many risks with their lending portfolios could be an unacceptable risk for the companies and the economy. Non traditional loans are very prevalent in parts of the country [...]

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Mortgage Applications Down as Rates Increase

Higher mortgage rates are causing a slow down in the mortgage industry as experts have expected. The hot economy raising interest rates combined with parts of the country coming out of a housing bubble are all part of the slow down that has been expected in real estate sales. That combined with mortgage rates that [...]

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Illinois Senate Passes Anti Bailout Legislation

The practice of providing bailout money to save people about to have their mortgage forclosed upon is fairly prevalent in Illinois. Very often the people being bailed out from a mortgage they can not repay end up with such a bad deal with the bailout agent, they are unable to become whole in the process [...]

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Countrywide Funding Up 10 Percent Over March, 2005

It looks like people are trying to get into new mortgages before any further increases are on the horizon. Countrywide saw a significant increase in newly funded mortgages for March, 2006 in year over year numbers. This must have the mortgage companies breathing easier. Countrywide Financial Corp.  reported mortgage loan fundings for March of $40 [...]

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Mortgage Rates Hit 3 Year High

It looks like mortgages rates continue to climb steadily. What are your opinions on where the top will be? Mortgage interest rates continued their upward trend this week, with the national average rate on the benchmark 30-year loan hitting 6.43 percent, the highest level in 31 months, according to Freddie Mac’s weekly survey released Friday. [...]

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