MortgageNewsWatch.com

Mortgage Industry News for May 18, 2013

Mortgage Fraud and the Global Economic Downturn
Fraudsters Face Prison and Fines Sasha Arms Although the media is tentatively reporting on an end to the global recession, the impact of increased mortgage fraud during the downturn is starting to become apparent. Recent estimates suggest that mortgage fraud in the United States has increased by 36 per cent over the last year. The Federal Bureau of Investigation (FBI) suggests that the sharp ...
Suite101.com - 2009-09-16 13:27:30

National Mortgage Lender Launches Wholesale Lending Division
Contact Information Mark T. Murphy Public Relations Manager Total Mortgage Services, LLC 203.876.2200 contact@totalmortgage.com MILFORD, Conn.-Total Mortgage Services, a leading mortgage lender and broker, announced today that it is adding wholesale loan origination to its arsenal of services. Now the company will be able to offer even more reasonable , reinforcing one of its strongest selling ...
WebWire - 2009-09-16 16:41:38

Floating Rate Mortgage in Hong Kong Is Setting Up a U.S. Style Housing Market Crash
I dont know how many of you were in the US during 2003 when Greenspan lowered the Fed funds rate to a historically low 1%. I recall distinctly seeing mortgages offered that were linked to 1 month Libor and reset monthly. The then-current mortgage rate was of course obscenely low. However, I also remember that this kind of mortgage was mostly offered to the financially savvy few, instead of the mass ...
Seeking Alpha - 2009-09-16 06:26:40

HSBC 1.99% discounted mortgage creates huge interest
This post currently has no comments HSBC is experiencing a huge amount of interest in its 1.99% discounted variable mortgage deal. Since launching its 1.99% discounted variable mortgage on 1st September, HSBC has experienced double the number of customers visiting its mortgage web site and call centre volumes have increased by 78% compared with July and August. The 1.99% discounted rate is linked ...
MoneyHighStreet.com - 2009-09-16 11:01:29

Rise of Current Mortgage Rates Dips Demand
Today's mortgage rates came slightly down after the news that last week's rising loan rates have slowed the demand for the new mortgages and houses. The Mortgage Bankers Association said this morning that due to the shortened banking period of last week and the rising rates in the past few days the demand for new loans has dropped by eight percent. Yet, the number of total mortgage applications were ...
Huliq.com - 2009-09-16 11:36:53

RCS to Purchase $1.3 Billion in Residential Mortgage Loans From FDIC
Companies: NEW YORK, Sept. 16 /PRNewswire/ -- Residential Credit Solutions, Inc. ('RCS') today announced that it was the successful bidder for a 50% equity interest in a structured sale of approximately $1.3 billion of residential mortgage loans, as Receiver for Franklin Bank offered by the Federal Deposit Insurance Corporation ('FDIC'). The transaction, one of the largest structured sales of residential ...
PR Newswire via Yahoo! - 2009-09-16 17:33:44

Mortgage applications fell 8.6% last week: MBA
CHICAGO (MarketWatch) -- The volume of mortgage applications filed last week fell a seasonally adjusted 8.6% compared with the week before, the result of a drop in both applications to refinance an existing loan as well as those to purchase a home, the Mortgage Bankers Association reported Wednesday. The average rate on 30-year fixed-rate mortgages rose for the week ended Sept. 11, while rates on 15-year ...
MarketWatch - 2009-09-16 06:32:10

NY Leads Nation in Mortgage Fraud
DALLAS, Sept. 16 /PRNewswire/ -- U.S. mortgage fraud cases mostly held steady during the latest quarter, according to the FraudBlogger.com Index -- a measure of active cases. But activity was up nearly 600% in New York to the highest of any state. During the second quarter, the FraudBlogger.com Index declined 7% from the first quarter to 1323. The index was higher than 1230 a year earlier. The index ...
Yahoo! Canada - 2009-09-16 14:08:36

Mortgage Demand Down as Summer Ends
Summer Ends Mortgage applications slowed as summer ended and potential first-time buyers wondered whether they would be able to settle in time to receive the federal home ownership tax credit, which expires Dec. 1. The Mortgage Bankers Association index declined 8.6 percent last week on a seasonally adjusted basis, including an adjustment for the Labor Day holiday. On an unadjusted basis, the index ...
REALTOR Magazine - 2009-09-16 16:12:26

Web sites help calculate mortgage payments
Several Web sites offer calculators with features designed to help prospective home buyers gauge monthly mortgage payments: Bankrate.com http://www.bankrate.com/calculators/mortgages/mortgage / -calculator.aspx Offers calculators to gauge mortgage payment amounts and determine how much you can afford. Homefair.com http://www.homefair.com/tools/mortgage-affordability-calculator/index.asp Establish ...
Akron Beacon Journal - 2009-09-16 02:50:38