Mortgage Rates Hold Steady
For more: http://bit.ly/fwBdrL
Rates on the 30-year fixed-rate home mortgage averaged 4.81% for the week ended Feb. 3, up just slightly from 4.80% last week.
Saturday, February 5, 2011
A Retirement Program for the Risk-Averse
For more: http://nyti.ms/hOf29q
Even the most disciplined savers are heavily relying on the stock market to reach their retirement goals. But that often amounts to a giant gamble, which is the thrust of the thinking behind a new retirement planning program that treats investing in stocks like a trip to the casino.
For more: http://nyti.ms/hOf29q
Even the most disciplined savers are heavily relying on the stock market to reach their retirement goals. But that often amounts to a giant gamble, which is the thrust of the thinking behind a new retirement planning program that treats investing in stocks like a trip to the casino.
Regulators Close 3 Failed Banks
For more: http://nyti.ms/gc4bZt
Regulators on Friday shut down three small banks in Georgia and Illinois, bringing to 14 the number of bank failures this year.
For more: http://nyti.ms/gc4bZt
Regulators on Friday shut down three small banks in Georgia and Illinois, bringing to 14 the number of bank failures this year.
Bank of America to Create Troubled Loans Unit
For more: http://nyti.ms/egCnWC
The entity, known as Legacy Asset Servicing, will become the repository for tens of billions of dollars in troubled assets, including many subprime products that are no longer offered by Bank of America but continue to hang over the company.
For more: http://nyti.ms/egCnWC
The entity, known as Legacy Asset Servicing, will become the repository for tens of billions of dollars in troubled assets, including many subprime products that are no longer offered by Bank of America but continue to hang over the company.
Friday, February 4, 2011
As part of overhaul, Obama administration eyes less federal backing for home loans
For more: http://wapo.st/hjTg7t
Administration officials, who are preparing a white paper on overhauling the nation's housing finance system, are looking at scaling back the support provided during the mortgage crisis to help the ailing real estate market.
For more: http://wapo.st/hjTg7t
Administration officials, who are preparing a white paper on overhauling the nation's housing finance system, are looking at scaling back the support provided during the mortgage crisis to help the ailing real estate market.
Home Equity Lending Is Back
For more: http://bit.ly/fqGwIL
After more than three years, some lenders are cautiously re-entering the second mortgage market. The effect hasn't registered in the national statistics yet, but regional banks are reporting significant increases. In the Midwest, Associated Bank issued nearly three times more home equity loans in the second half of 2010 compared to the same period the year before.
For more: http://bit.ly/fqGwIL
After more than three years, some lenders are cautiously re-entering the second mortgage market. The effect hasn't registered in the national statistics yet, but regional banks are reporting significant increases. In the Midwest, Associated Bank issued nearly three times more home equity loans in the second half of 2010 compared to the same period the year before.
JPMorgan Hid Doubts on Madoff, Documents Suggest
For more: http://nyti.ms/euThv0
Senior executives at JPMorgan Chase expressed serious doubts about the legitimacy of Bernard L. Madoff’s investment business more than 18 months before his Ponzi scheme collapsed but continued to do business with him, according to internal bank documents made public in a lawsuit on Thursday.
For more: http://nyti.ms/euThv0
Senior executives at JPMorgan Chase expressed serious doubts about the legitimacy of Bernard L. Madoff’s investment business more than 18 months before his Ponzi scheme collapsed but continued to do business with him, according to internal bank documents made public in a lawsuit on Thursday.
EDITORIAL: Affordable Housing and the Gulf
For more: http://nyti.ms/ebbewo
The gulf states are still living with the destruction wrought by Hurricanes Katrina and Rita, which swept away more than 70,000 units of affordable rental housing.
For more: http://nyti.ms/ebbewo
The gulf states are still living with the destruction wrought by Hurricanes Katrina and Rita, which swept away more than 70,000 units of affordable rental housing.
A Path to Homeownership Is Becoming a Burden
For more: http://nyti.ms/i2tOni
Tenancies-in-common, a type of shared homeownership that is widespread in San Francisco, were once considered an affordable option for first-time home buyers in an expensive city. Now some homeowners, unable to sell, are calling them traps.
For more: http://nyti.ms/i2tOni
Tenancies-in-common, a type of shared homeownership that is widespread in San Francisco, were once considered an affordable option for first-time home buyers in an expensive city. Now some homeowners, unable to sell, are calling them traps.
Thursday, February 3, 2011
Proposed class action targets BofA on foreclosures
For more: http://bit.ly/gy6lZx
Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.
For more: http://bit.ly/gy6lZx
Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.
Should I take out a reverse mortgage?
For more: http://bit.ly/fUukWl
A reverse mortgage can be a good way for people 62 and older to turn their home equity into extra spending cash that can supplement Social Security and withdrawals from savings, making retirement more enjoyable than it otherwise might be.
For more: http://bit.ly/fUukWl
A reverse mortgage can be a good way for people 62 and older to turn their home equity into extra spending cash that can supplement Social Security and withdrawals from savings, making retirement more enjoyable than it otherwise might be.
Senator eyes law as mortgage-modification remedy
For more: http://bit.ly/hYKsgn
Measure would empower judges to order lenders to talk to borrowers
For more: http://bit.ly/hYKsgn
Measure would empower judges to order lenders to talk to borrowers
Getting an Eviction Lifted for an Army Vet in Foreclosure
For more: http://bit.ly/gaJi5o
Paulette Davenport has lived in the same home in Stone Mountain for 12 years. She is a single mom and an Army veteran, seriously injured as she was training to go to Iraq. The bank moved in and foreclosed -- at least for now.
For more: http://bit.ly/gaJi5o
Paulette Davenport has lived in the same home in Stone Mountain for 12 years. She is a single mom and an Army veteran, seriously injured as she was training to go to Iraq. The bank moved in and foreclosed -- at least for now.
Whose house is being saved by Obama?
For more: http://bit.ly/eAwzKP
More than half a million Americans have received permanent mortgage modifications from the Obama administration's flagship foreclosure prevention program, the Home Affordable Modification Program. So who are these homeowners?
For more: http://bit.ly/eAwzKP
More than half a million Americans have received permanent mortgage modifications from the Obama administration's flagship foreclosure prevention program, the Home Affordable Modification Program. So who are these homeowners?
Fees for home mortgages increase
For more: http://bit.ly/hTWzvG
For the first time since 2009, Fannie Mae and Freddie Mac are raising risk fees they charge lenders on loans they buy for resale to investors. The mortgage giants are also adding risk fees to more loans extended to people with stellar credit.
For more: http://bit.ly/hTWzvG
For the first time since 2009, Fannie Mae and Freddie Mac are raising risk fees they charge lenders on loans they buy for resale to investors. The mortgage giants are also adding risk fees to more loans extended to people with stellar credit.
Louisville Community Development Bank changes name to Metro Bank
For more: http://bit.ly/9qWTDa
Louisville Community Development Bank, which is dedicated to making loans to local residents and businesses to create jobs and support owner occupied housing, has changed its name to Metro Bank.
For more: http://bit.ly/9qWTDa
Louisville Community Development Bank, which is dedicated to making loans to local residents and businesses to create jobs and support owner occupied housing, has changed its name to Metro Bank.
Foreclosed Homeowners Go to Court on Their Own
For more: http://nyti.ms/fUIy0F
Saving your home from foreclosure is increasingly a do-it-yourself project. Lawyers are scarce and free legal assistance is overwhelmed in New Mexico, so a community center here is offering an hourlong class in how to download the correct forms, decipher the lingo and mount a defense, however tentative and primitive, against a multibillion-dollar bank.
For more: http://nyti.ms/fUIy0F
Saving your home from foreclosure is increasingly a do-it-yourself project. Lawyers are scarce and free legal assistance is overwhelmed in New Mexico, so a community center here is offering an hourlong class in how to download the correct forms, decipher the lingo and mount a defense, however tentative and primitive, against a multibillion-dollar bank.
Wednesday, February 2, 2011
Bet on Foreclosure Boom Turns Sour for Investors
For more: http://nyti.ms/hGhEKz
David J. Stern may be the best-known beneficiary of the foreclosure boom, having made millions in recent years from evictions processed by his law firm, the largest of its kind in Florida. But when he took part of his firm public early last year, he had plenty of help from a constellation of investors also looking to cash in on people losing their homes.
For more: http://nyti.ms/hGhEKz
David J. Stern may be the best-known beneficiary of the foreclosure boom, having made millions in recent years from evictions processed by his law firm, the largest of its kind in Florida. But when he took part of his firm public early last year, he had plenty of help from a constellation of investors also looking to cash in on people losing their homes.
Tuesday, February 1, 2011
Banks Boost Home-Loan Relief
For more: http://bit.ly/ikei2p
As the federal government's flagship mortgage-modification program comes under scrutiny for failing to meet its goal of helping 3 to 4 million troubled homeowners, state-level efforts to boost modifications appear to be picking up momentum.
For more: http://bit.ly/ikei2p
As the federal government's flagship mortgage-modification program comes under scrutiny for failing to meet its goal of helping 3 to 4 million troubled homeowners, state-level efforts to boost modifications appear to be picking up momentum.
Mideast Unrest Could Hurt Recovery
For more: http://bit.ly/hapvib
The U.S. economy can absorb the hit from the past week's rise in oil prices, but could stumble anew if continuing Mideast turmoil pushes crude prices significantly higher.
For more: http://bit.ly/hapvib
The U.S. economy can absorb the hit from the past week's rise in oil prices, but could stumble anew if continuing Mideast turmoil pushes crude prices significantly higher.
$10 Million in Pay for Bank of America Chief
For more: http://nyti.ms/gKMN1U
It was a tough year for Bank of America, what with the foreclosure mess and a sagging stock price. Its chief executive, Brian T. Moynihan, nonetheless received $10 million in his first year on the job.
For more: http://nyti.ms/gKMN1U
It was a tough year for Bank of America, what with the foreclosure mess and a sagging stock price. Its chief executive, Brian T. Moynihan, nonetheless received $10 million in his first year on the job.
Monday, January 31, 2011
Uncertain Path Ahead For U.S. Mortgage Giants
For more: http://bit.ly/dVrGk3
The Obama administration was supposed to offer a restructuring plan for mortgage giants Fannie Mae and Freddie Mac by Monday, but the plan has been delayed at least until mid-February as policymakers struggle to define what the future of mortgage financing should look like.
For more: http://bit.ly/dVrGk3
The Obama administration was supposed to offer a restructuring plan for mortgage giants Fannie Mae and Freddie Mac by Monday, but the plan has been delayed at least until mid-February as policymakers struggle to define what the future of mortgage financing should look like.
Church Foreclosures: Hard Times For God's Work
For more: http://n.pr/ibJens
The Lord giveth and the bank taketh away — at least, that is what a lot of churches have found recently. Lenders foreclosed on about 100 churches last year, an enormous increase from just a few years ago.
For more: http://n.pr/ibJens
The Lord giveth and the bank taketh away — at least, that is what a lot of churches have found recently. Lenders foreclosed on about 100 churches last year, an enormous increase from just a few years ago.
Bank of America fights judge's order halting 8,900 Nevada foreclosures
For more: http://wapo.st/fgoXPe
Bank of America is aggressively moving to appeal a Nevada county judge's order halting more than 8,900 foreclosures.
For more: http://wapo.st/fgoXPe
Bank of America is aggressively moving to appeal a Nevada county judge's order halting more than 8,900 foreclosures.
Home Prices Sink Further
For more: http://bit.ly/ecqDqZ
Home values are falling at an accelerating rate in a number of cities across the U.S. The Wall Street Journal's latest quarterly survey of housing-market conditions found that prices declined in all of the 28 major metropolitan areas tracked during the fourth quarter when compared to a year earlier.
For more: http://bit.ly/ecqDqZ
Home values are falling at an accelerating rate in a number of cities across the U.S. The Wall Street Journal's latest quarterly survey of housing-market conditions found that prices declined in all of the 28 major metropolitan areas tracked during the fourth quarter when compared to a year earlier.
Sunday, January 30, 2011
U.S. extends FHA program for flipped houses
For more: http://bit.ly/f67omx
The Obama administration on Friday extended through the end of the year a popular program allowing buyers of flipped homes to obtain loans backed by the Federal Housing Administration.
For more: http://bit.ly/f67omx
The Obama administration on Friday extended through the end of the year a popular program allowing buyers of flipped homes to obtain loans backed by the Federal Housing Administration.
Addressing the Issue of Home Affordability
For more: http://nyti.ms/eb1b8K
DR. BRUCE STILLMAN, the president of Cold Spring Harbor Laboratory, hires a lot of scientists. But most of the 1,130 postdoctoral fellows, graduate students, medical doctors and others don’t live on the Island. They commute from Brooklyn or Manhattan.
For more: http://nyti.ms/eb1b8K
DR. BRUCE STILLMAN, the president of Cold Spring Harbor Laboratory, hires a lot of scientists. But most of the 1,130 postdoctoral fellows, graduate students, medical doctors and others don’t live on the Island. They commute from Brooklyn or Manhattan.
Curbing Closing Costs
For more: http://nyti.ms/gmjN9L
Borrowers have some weapons for keeping closing costs down, the result of recent guidelines requiring lenders to disclose certain fees, but perhaps the most underutilized consumer tool simply involves old-fashioned haggling.
For more: http://nyti.ms/gmjN9L
Borrowers have some weapons for keeping closing costs down, the result of recent guidelines requiring lenders to disclose certain fees, but perhaps the most underutilized consumer tool simply involves old-fashioned haggling.
A Sign of Hope for More Hiring
For more: http://nyti.ms/eiIMia
WILL businesses ever start hiring again? The numbers from last month — with unemployment at a painful 9.4 percent — didn’t seem to offer much hope. But often, before hiring occurs, a job is posted on a Web site of some sort. If we look at job-posting numbers — a more recent snapshot of employers’ needs than the hiring data — the picture is more encouraging across a range of industries.
For more: http://nyti.ms/eiIMia
WILL businesses ever start hiring again? The numbers from last month — with unemployment at a painful 9.4 percent — didn’t seem to offer much hope. But often, before hiring occurs, a job is posted on a Web site of some sort. If we look at job-posting numbers — a more recent snapshot of employers’ needs than the hiring data — the picture is more encouraging across a range of industries.
A Bank Crisis Whodunit, With Laughs and Tears
For more: http://nyti.ms/eJrUHe
Truly startling revelations were few in the voluminous report, published last Thursday by the Financial Crisis Inquiry Commission on the origins of the financial panic. This is hardly a shock, given the flood-the-zone coverage and analysis of the crisis since it erupted four years ago.
For more: http://nyti.ms/eJrUHe
Truly startling revelations were few in the voluminous report, published last Thursday by the Financial Crisis Inquiry Commission on the origins of the financial panic. This is hardly a shock, given the flood-the-zone coverage and analysis of the crisis since it erupted four years ago.
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