November 11 2010 (Shirley Allen) The Federal Reserve announced a new online resource that provides practical answers to questions about credit reports, credit scores, and the importance of protecting personal credit histories. Read more...
November 11 2010 (Jeff Alan) RealtyTrac is reporting that there were 332,172 foreclosure filings in the month of October, a four percent decline compared to September. That puts the level of homes in some stage of foreclosure exactly where it was at a year ago, one in every 389 homes. Read more...
November 11 2010 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) set new records for all-time lows. The 5-year ARM also reached another new low in the survey while the 1-year ARM remained at its nadir. [...]
November 10 2010 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 5, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 5.8 percent on a seasonally adjusted basis from one week earlier, but the Index's four week moving average is [...]
November 10 2010 (Chris Moore) Zillow announced today that a staggering 23.2 percent of all American homeowners with a mortgage are underwater in the third quarter of 2010, with 11 markets reportedly having as many as 50 percent of the homeowners with mortgages being underwater. A homeowner who is “underwater” owes more on their home [...]
November 9 2010 (Shirley Allen) According to the October 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve, smaller banks and mortgage lenders reported tighter lending standards on mortgage loans over the previous three months which marks a reversal from a slight easing that had been reported in the previous [...]
November 9 2010 (Chris Moore) In a survey conducted by the Professional Insurance Brokers Association (PIAB), mortgage brokers claim mortgage lenders are rejecting eight out of ten home loan applications in the United Kingdom. read more...
November 8 2010 (Shirley Allen) Wells Fargo & Co, with more than $100 billion in residential loan originations, was the largest originator of home loans in the United States in the third quarter of 2010. Mortgage originations represent transactions where the purchase of a home is financed or an existing mortgage is refinanced. In either [...]
November 8 2010 (Jeff Alan) Jumbo mortgages that had all but disappeared during the housing crisis are starting to make a comeback. Mortgage lenders originated $18 billion in jumbo loans during the third quarter of 2010, up approximately 20 percent from the second quarter. Read more...
