Mortgage News: US job cuts add to cost of loans fiasco (24 Aug 2007) The sub-prime mortgage crisis claimed more victims yesterday as an Arizona-based lender with 300 branches filed for bankruptcy, leaving almost 6,000 staff out of pocket and jobless.
US mortgage crisis spreads to luxury home builders (24 Aug 2007) America's top builder of luxury homes has revealed that cancellations are at an all-time high as a crisis gripping the property market widens to the country's most affluent homebuyers.
Ride out the mortgage crisis - Mortgage News (24 Aug 2007) Mortgage News - For many, the dream of owning a home has vaporized as the facade of cheap mortgages, which seemed so normal from 2002 to 2006, has crumbled. Federal officials have reacted well, letting markets expose the error of their ways and laying the ground for more sustainable home ownership.
Bank of America to invest $2B in troubled mortgage giant (23 Aug 2007)
Financial titan Bank of America said late Wednesday it had agreed to invest a hefty $2.0 billion in troubled US mortgage giant Countrywide Financial Corporation
MICA Unveils Redesigned Spanish Website (18 Aug 2007) The Mortgage Insurance Companies of America has launched a redesigned, interactive Spanish-language website designed to promote the benefits of private mortgage insurance
Mortgage brokers facing higher hurdles to home loans (18 Aug 2007) Mortgage broker Ed Smith Jr. has been arranging home loans for 24 years and it's never been tougher for him to close a deal than during the past few weeks of turmoil.
Buyout firm tries to scuttle Accredited Home deal (13 Aug 2007) SAN FRANCISCO (MarketWatch) -- Accredited Home Lenders Holding Co. said Monday that it's suing to prevent a buyout firm from pulling out of its agreement to acquire the struggling mortgage lender.
Bank tighten mortgage loan standards again: Fed survey (13 Aug 2007) WASHINGTON (MarketWatch) -- U.S. banks continued to tighten their standards for approving mortgage loans again in the spring and early summer but mostly for nontraditional and subprime loans, the Federal Reserve said Monday.
Mortgage applications dip to 5-month low (01 Aug 2007) Demand for mortgage applications slid last week to its weakest level in more than five months, an industry group said on Wednesday, underscoring that the beleaguered U.S. housing sector has yet to bottom.
Teaming up with Real Estate Investors (01 Aug 2007) More and more people are exploring real estate investing as a way to generate additional revenue and perhaps even fund their retirement accounts. They gobble up every new book that hits the shelves, yet, most of them rarely have the confidence to take the first step.
Immigrants' homebuying dreams lift slumping market, prospects for rebound (01 Aug 2007) BILLERICA, Massachusetts: Patricia Ortiz and her husband Sebastian cut back on dining out, nights at the movies, and even opted for a civil wedding ceremony instead of a big church affair so they could afford to buy their $389,000 (€284,794) three-bedroom colonial.
In doing so, the Panamanian natives helped lift the slumping U.S. housing market.
Subprime Fallout Debate Continues (25 Jul 2007) St. Louis Fed Pres. William Poole Thinks the Damage Will Primarily Remain in Real Estate Sector; Bill Gross of PIMCO Says Drop in Home Prices Could Magnify Subprime Problem
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Subprime Is Often Subpar (03 Jul 2007) Subprime mortgages are often associated with borrowers who have a tainted or limited credit history. This is because a subprime mortgage can offer a consumer a way to purchase a home while they repair or build their credit history. Because subprime mortgages carry substantially higher interest rates than similar mortgages available in the prime mortgage market, a subprime mortgage borrower has a great deal of incentive to repair or establish his or her credit to be able to refinance the subprime mortgage into a prime mortgage.
