Tag Archives: mortgage

SunTrust Mortgage Short Sales- Are Our Sellers Getting Screwed?

28. Apr, 2010 0 Comments

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what is going on with SunTrust Mortgage and how long they are actually taking to close short sales these days. We go over a recent deal we have with them and some tips and tricks on how to get a short sale deal closed when you have two mortgages with the same lender. Listen in as we cover this and how often SunTrust Mortgage will order a …

Read more
Short Sales
, , , , , ,

The Fed Ain’t Buying It!

17. Mar, 2010 0 Comments

The Federal Reserve renewed its commitment to keep key interest rates near zero for an “extended period,” but also confirmed that it will stop buying mortgage-backed securities at the end of March. The Fed, whose regular meeting began Tuesday, said that “housing starts have been flat at depressed levels” and “employers remain reluctant to add to payrolls” as a reason for extending the cap on interest rates.Read more
Blog
, ,

Fraud FINALLY on the Decline!

15. Mar, 2010 0 Comments

First American CoreLogic’s index of home loan fraud shows that the rate tied to non-subprime loans has declined to 84 from a 2007 peak of about 112. Still, the firm says a quarter of foreclosures reflect “some evidence of fraud” in the mortgage application. First American estimates that 0.55 percent of mortgages made in 2009 were fraudulent and that the fraud rate for loans insured by the FHA is 1.22 percent. Fraudulent mortgages totaled $14 billion last year; and fraud rates in hot spots like Orlando and Miami, Fla., Atlanta, and Detroit are three to four times the national average. Source: The Wall Street Journal, James Hagerty (03/15/10)Read more
Blog
, , ,

The Loan Modification Plan 2nd Mortgage Conflict Flaw

16. Jan, 2010 0 Comments

The billion dollar Making Home Affordable plan is being pointed at by bond investors and officials within the Treasury Department as eternally flawed. A consensus seems to be forming that there must be forced handling of second mortgage debt and lowering of loan balances for non-equity borrowers.
In an article read recently on Bloomberg.com, investors agreed that without principal balance reductions versus simple payment reductions and wipe-outs of second mortgage debt there would be profound implications on financial markets.
There …

Read more
Loan Mods
, , , , ,

Mortgage Applications: Housing Interest Up or Down?

28. Nov, 2009 0 Comments

homebuyerThe most recent Weekly Survey on Mortgage Application Activity released by the Mortgage Bankers Association brings back some positive light after showing declines for the third week of October. Looking at over 50% of all US residential mortgage applications, the MBA reports that demand for new mortgages increased 8.2% in the last week of October while average 30-yr fixed rates fell to 4.97%. The week before application activity had fallen 12.3% even though rates dropped that week as well.

Not …

Read more
Short Sales
, , , ,
Page 9 of 9« First...56789