Archive for July, 2009
Favorable mortgage rates cause surge in loan applications
By FRANK DUNNE JR. On the other hand, the increase in applications hasn’t necessarily translated into more loans. The Wall Street Journal reported this week that loan portfolios at 15 of the nation’s largest banks declined by 2.8 percent in the second quarter, citing conserving capital as a hedge against existing bad loans.
Federal Home Loan Bank of San Francisco Releases June 2009 Cost of Funds Index
SAN FRANCISCO—-The Federal Home Loan Bank of San Francisco announced July 31, 2009, that the 11th District Monthly Weighted Average Cost of Funds Index for June 2009 is 1.599%. The index for May 2009 was 1.832%.
Westpac raises fixed mortgage rates
AUSTRALIA’S second largest home loan lender Westpac Banking Corporation will increase its fixed mortgage rates because it says the cost of funding has risen.
Mortgage loan changes offer more review time
Regulatory changes affecting home equity loans went into effect Thursday, allowing consumers more time to review disclosures than before. In the new rules, which follow the Mortgage Disclosure Improvement Act passed last year, a 7 day wait period must occur before lenders close a loan.
Mortgage loan changes offer more review time
Regulatory changes affecting home equity loans went into effect Thursday, allowing consumers more time to review disclosures than before. In the new rules, which follow the Mortgage Disclosure Improvement Act passed last year, a 7 day wait period must occur before lenders close a loan.
Corp Vida wins race for ING life annuities, mortgage loan portfolios – Chile
Chilean life insurer Corp Vida has acquired the local life annuities and mortgage loan portfolios of Dutch financial group ING for an undisclosed sum, the latter said in a press release.
HEART offers new loan program
HEART offers new loan program Money available for homebuyers The Housing Endowment and Regional Trust – otherwise known as HEART of San Mateo County – has partnered with a mortgage company to create a customized loan package that is not offered by any other lender. HEART officials say the goal is to help local people buy a home with a 5 percent down payment.
HEART offers new loan program
HEART offers new loan program Money available for homebuyers The Housing Endowment and Regional Trust – otherwise known as HEART of San Mateo County – has partnered with a mortgage company to create a customized loan package that is not offered by any other lender. HEART officials say the goal is to help local people buy a home with a 5 percent down payment.
Ohio sues mortgage servicer Carrington
Ohio’s top lawyer and the Ohio Department of Commerce have sued a California subprime mortgage servicer, alleging the company fell short of a pact with the state to offer loan modifications to borrowers.
Fitch Rates Citigroup Mortgage Loan Trust 2009-7
NEW YORK—-Citigroup Mortgage Loan Trust 2009-7 is rated by Fitch Ratings as follows:
