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Fixed and Adjustable Mortgage Rates Take Opposite Paths

7:25 am   -   August 23rd, 2007

Fixed mortgage rates declined, with the average conforming 30-year fixed mortgage rate falling to 6.58 percent. According to Bankrate.com’s weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.28 discount and origination points. (more…)

Bank of America Makes Investment in Countrywide Financial

7:24 am   -   August 23rd, 2007

Bank of America Corporation has made an investment in Countrywide Financial Corporation, the largest mortgage lender in the United States.

Bank of America will invest $2 billion in the form of a non-voting convertible preferred security yielding 7.25 percent annually. The security can be converted into common stock at $18 per share. (more…)

First Went Sub-prime, now Alt-A, What’s a Loan Officer to do?

10:28 pm   -   August 13th, 2007

This will work itself out. Performance on mortgages in Alt-A securities combined with their already higher yields will draw investors back but make no mistake, the process of determining what is in a security will be different for a time and investors are going to expect more, not less or even the same information about the credit criterion of the loans in this type security. (more…)

Aegis Mortgage Corporation Suspends Loan Originations

5:38 pm   -   August 6th, 2007

Aegis Mortgage Corporation said today that the company has suspended all loan originations, Mortgage News Review has learned. Apparently Aegis Mortgage Corporation is suffering problems because of the worsening housing and credit markets. (more…)



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HRC Closes on $2.8M Mortgage Loan
NEW YORK CITY-Hudson Realty Capital has closed on a $2.8-million first mortgage loan secured by an 8.9-acre industrial park in Staten Island, GlobeSt.com has exclusively learned. The borrower was not disclosed; the loan was used to buy the existing first
Woods takes out $54M mortgage on Fla. estate
JUPITER ISLAND, Fla. - Fresh off his divorce, Tiger Woods has taken out a $54.5 million mortgage on his Florida waterfront estate. Mortgage documents filed last month in Martin County show Woods will make payments to an entity called JRD Florida Ventures
Woods takes out $54M mortgage on Fla. estate
JUPITER ISLAND, Fla. - Fresh off his divorce, Tiger Woods has taken out a $54.5 million mortgage on his Florida waterfront estate. Mortgage documents filed last month in Martin County show Woods will make payments to an entity called JRD Florida Ventures
Mortgage Bankers group spent $745K lobbying in 2Q
WASHINGTON - The Mortgage Bankers Association spent $745,000 in the second quarter to lobby the federal government on issues including banking regulations, housing issues and reforms to the financial system. That's down from the $761,000 the group spent
Mortgage Bankers group spent $745K lobbying in 2Q
WASHINGTON - The Mortgage Bankers Association spent $745,000 in the second quarter to lobby the federal government on issues including banking regulations, housing issues and reforms to the financial system. That's down from the $761,000 the group spent
Comments Requested on Mortgage Interest Statement Form
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Homeowners arent likely to face higher mortgage costs for the next month and ...
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Mortgage interest rates set record lows
WASHINGTON, Sept. 2 (UPI) -- Average interest rates for long-term mortgages set record lows in the week ending Sept. 2, the U.S. Federal Home Loan Mortgage Corp. said Thursday. Freddie Mac said "modest inflation expectations" contributed to the drop in
Mortgage interest rates set record lows
Average interest rates for long-term mortgages set record lows in the week ending Sept. 2, the U.S. Federal Home Loan Mortgage Corp. said Thursday. Freddie Mac said "modest inflation expectations" contributed to the drop in interest rates for 15-year and
Yorkshire Building Society cuts first-time buyer mortgage rate
Yorkshire Building Society has reduced the rate of one of its home credit deals.Yorkshire Building Society yesterday (September 1st) announced that it is to further reduce the rate on its home credit deal designed for people looking to get their foot on
Mortgage deals 'generally cheaper in Scotland'
Scotland offers generally cheap mortgage deals, an expert has said.People searching for cheap home credit deals might be advised to look north of the border for the best available mortgage products following the recession. That is according to David
UPDATE 1-U.S. mortgage rates hit record low - Freddie Mac
(Adds quotes, background, details from survey) By Julie Haviv NEW YORK, Sept 2 (Reuters) - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday
Mortgage interest rates set record lows
WASHINGTON, Sept. 2 (UPI) -- Average interest rates for long-term mortgages set record lows in the week ending Sept. 2, the U.S. Federal Home Loan Mortgage Corp. said Thursday. Freddie Mac said "modest inflation expectations" contributed to the drop in
Mortgage rates at record lows
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