Moneyblog Home Loans

According to Sunday’s Wall Street Journal, Fannie Mae announced that it will allow tenants low on extra cash to remain in their residences should the building’s landlord go into foreclosure, and that they will not evict tenants during the year-end holiday season.
Advocacy Group pressures Fannie Mae and Freddie Mac
This announcement came after the government-controlled mortgage [...]

Home foreclosures are finally gaining some much needed attention. On Wednesday, Rep. John Conyers Jr. (D-Mich.) introduced a new version of the bankruptcy expansion proposal in the House of Representatives. This proposal would empower bankruptcy judges with the discretion to reduce payments and principal for homeowners with troubled mortgages, waive payment penalties, stop or modify [...]

The key to purchasing a home is first understanding the different types of loans, and then deciding what loan best fits your needs. For example, if you intend to keep your home for several years, and you are purchasing your home while interest rates are low, then a fixed rate mortgage might be exactly what [...]

The Paulson Plan has provided relief for floundering banks in America, but the help mortgage lenders have sought for their own credit repair hasn’t been forthcoming. Until now.
The FDIC has announced its home loan modification program
With this new plan, the Federal Deposit Insurance Corp will seek to prevent about 1.5 million homes from facing foreclosure. [...]

Reverse mortgage loans have increased 10-fold since the year 2000 as seniors experience double-digit losses in their retirement accounts, declines in home value, and increased food, health and energy costs.
Quoted With Edits From: Silverboat.com Introduces Socially Responsible Lending for Seniors at Risk in Today’s Financially Turbulent Times (PR Newswire via Yahoo! Finance)
What is a reverse [...]

ComplianceEase(R), the nation’s leading provider of mortgage risk management solutions, announced today at the Mortgage Bankers Association’s 95th Annual Convention and Expo that the Board of Directors of the American Association of Residential Mortgage Regulators (AARMR) has approved the adoption of examination automation solutions for its members, selecting ComplianceAnalyzer(R) and …
Quoted With Edits From: American [...]

The state agency that provides mortgages to moderate-income families in Ohio will slash its home-loan volume by as much as 75 percent after $150 million in bonds failed to sell on Wall Street this week, the latest domino to fall in the mortgage meltdown.
Quoted With Edits From: Mortgage crisis stops down-payment help (The Columbus Dispatch)
Mortgage [...]

Federal bank regulators fought over turf with state agencies while America’s mortgage lending system grew increasingly unstable and then fell apart.
Quoted With Edits From: Mortgage system crumbled while regulators jousted (Seattle Post-Intelligencer)
The Mortgage Crisis. Who’s To Blame?
Everyone is up in arms and pointing fingers at who and what has caused the mortgage crisis that [...]

Bank of America said Monday it was ready to spend up to 8.4 billion dollars to restructure the loan portfolio of mortgage giant Countrywide following settlement of a lawsuit targeting the firm’s “predatory” lending practices.
Quoted With Edits From: Bank of America to spend up to 8.4 billion on Countrywide (AFP via Yahoo! News)
Woes for Bank [...]

Countrywide Financial has agreed to the largest program ever to modify home loans as part of a settlement with officials in 11 states, including California. Countrywide, the nation’s largest lender and loan servicer that was recently acquired by Bank of America, had been sued by the states over what they said were predatory lending practices.
Quoted [...]