Homeowners may be the ones who are the main victims of the foreclosure process but renters are not immune from the housing problem. An article in USA today stated that renters are suffering a tough rental market because the number of vacancies is going down, there is not a huge inventory of rentals, monthly rent [...]
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Many people are opting to walk away from their property when all other options for saving their home for foreclosure have been exhausted. Many people are now considering walking away a “business decision”. Since property values have dropped so much and so quickly, homeowners believe that they do not have a better alternative. There are [...]
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Taylor, Bean & Whitaker Mortgage Corp. announced its subsidiary closed on a $1.75 billion facility. The lender and terms of the facility were not disclosed. The Florida-based company hopes the new line will help it expand its third-party originations.
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The cost of funds index was 2.92% in May, the Federal Home Loan Bank of San Francisco reported. The index dropped from April and from May 2007, FHLBank reported. The last time the index was this low was in August 2005.
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Lone Star Funds has agreed to acquire $9.3 billion in home lending assets and related servicing operations from CIT Group Inc., CIT announced. Lone Star will reportedly pay $1.5 billion in cash and assume $4.4 billion in outstanding debt and other related liabilities. Lone Star is the parent of LSF5 Accredited Investments LLC, which in turn is the parent of Accredited Home Lenders Inc.
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Countrywide Financial Corp. was acquired by Bank of America Corp. on Tuesday. The merger creates a bank with around $773 billion in deposits -- more than any other U.S. bank, according to recent data from the Federal Reserve Board. The combined entity will likely originate around $425 billion annually, making it the biggest residential lender in the country.
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Sanjiv Das has been named chief executive office of CitiMortgage, according to a company memorandum. Das begins his new role on July 16, the statement said. He previously worked at Citigroup from 1991 to 1999.
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Fortes Residential Mortgage Co. has been launched as a national mortgage banker, the company's parent announced. The unit was created when Fortes acquired a significant portion of National City Bank's wholesale mortgage unit and a retail mortgage banking platform earlier this year, the statement said. The integrated operation includes five regional wholesale operations centers, three retail banking offices and eight reverse mortgage branches.
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May PCE Core Deflator Rises Lower-Than-Expected at 0.1%
Friday's Events: U.S. Core PCE, Personal Income and Spending, Cnd IPPI & RPI
Fed Creates Two New Entities for Risk Management and Communication
Fed Minutes Says Bear Stearns Actions, Primary Lending Facility Necessary
Condo Sales Main Driver of 2.0% Rise in U.S. Existing Home Sales
And Yet the Sale of Countrywide is [.
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Fed Minutes Says Bear Stearns Actions, Primary Lending Facility Necessary
May PCE Core Deflator Rises Lower-Than-Expected at 0.1%
Penalty fee makes bad investment worse
Some hybrids qualify for tax breaks
Friday's Events: U.S. Core PCE, Personal Income and Spending, Cnd IPPI & RPI
Delinquent owner lucky to have car
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Last-minute options can lessen college aid panic
Massachusetts charges five in mortgage scam
Five Indicted In Alleged Calif. Mortgage Fraud
Lehman bosses said to give up bonuses
Miss., La. to use mortgage licensing system
Credit scores hit by card limits
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The constant depressing news about foreclosures and the economic state of the entire world is more than enough to cause anyone to give up and wait for Armageddon to come. However, you can still fight back against foreclosure and do something about your financial situation.
Most people are tired of the foreclosure [...]
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