Archives

Las Vegas, NV - November 4, 2011 - (RealEstateRama) -- While short sales minimize damage to your credit versus foreclosure, the fact remains that the goal of every short sale is to walk away without the bank coming after you at some future date down th...

VIENNA, VA - November 3, 2011 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN) today proposed regulations that would require government-sponsored enterprises (GSEs) Fannie Mae, Freddie Mac and the Federal Home Loan Banks to develop anti-money laundering (AML) programs and file suspicious activity reports (SARs) with FinCEN.

November 3, 2011 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR) has shut down an operation claiming to be a Detroit mortgage company called “United Commercial Credit” by ordering it to cease and desist from doing busi...

WASHINGTON, DC - November 3, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it has reached an agreement with Luxury Mortgage Corporation (LMC), a mortgage lender based in Stamford, Connecticut, settling accusations that the lender discriminated against a woman by denying her mortgage loan because she was on maternity leave. Under the settlement, LMC agrees to pay the woman who was denied the mortgage $12,000.

Washington, DC - November 3, 2011 - (RealEstateRama) -- Third quarter 2011 commercial and multifamily mortgage loan originations were 98 percent higher than during the same period last year and 10 percent higher than the second quarter of 2011, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

CHARLOTTE, NC - November 2, 2011 - (RealEstateRama) -- Average mortgage rates decreased across the board week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.

November 2, 2011 - (RealEstateRama) -- Legislation providing tougher penalties to those who knowingly engage in mortgage fraud has been passed through the legislature and recently signed into law by Governor Snyder. These new Public Acts seek to addres...

WASHINGTON, D.C. - November 2, 2011 - (RealEstateRama) -- Mortgage applications increased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 28, 2011

WASHINGTON, DC - November 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development’s Mortgagee Review Board (MRB) today immediately suspended Allied Home Mortgage Corporation, thereby preventing the company from originating and underwriting new mortgages insured by the Federal Housing Administration (FHA). HUD is also suspending the company’s president and chief executive officer, James C. Hodge, and proposing to debar him as well as the company’s executive vice president, Jeanne L. Stell.

CROWNSVILLE, MD - October 31, 2011 - (RealEstateRama) -- U.S. Senator Ben Cardin (D-MD) today met with officials of the Maryland Department of Housing and Community Development (DHCD) and statewide housing advocates to discuss the continuing foreclosur...

Port St. Lucie,, FL – October 28, 2011 – Torchlight Investors sold Hillmoor Village Apartments to Finbay Pacific for $10.5 million. Torchlight acquired the property in December 2010 through a lender foreclosure. At that time, the property was 60% o...

Las Vegas, NV - October 31, 2011 - (RealEstateRama) -- In a city like Las Vegas, there are very few absolutes. Always split aces and eights. Never bet more than you can afford to lose and never wise-off to the bouncer. For Las Vegas homeowners consider...

Washington, DC - October 28, 2011 - (RealEstateRama) -- Congresswoman Waters (CA), Ranking Member on the Subcommittee on Capital Markets and Government Sponsored Enterprises, today led 15 of her colleagues in the House of Representatives, renewing her ...

WASHINGTON, DC - October 28, 2011 - (RealEstateRama) -- Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, today unveiled his proposal to reform the secondary mortgage mar...

River Edge, NJ - October 28, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), is taking their wholesale division on the road throughout the month of November. Joe Amoroso, REMN’s Director of National Sales, Carl Markman, National Sales Manager, along with other representatives from REMN Wholesale, will be on-site at major industry events nationwide to meet with independent mortgage brokers and share with them how REMN can help grow their business.

Washington, DC - October 27, 2011 - (RealEstateRama) -- Today, Congressman John Tierney urged Acting Director Edward DeMarco of the Federal Housing Finance Agency (FHFA) to continue to take critical steps to prevent foreclosures and to push private len...

Washington, DC - October 27, 2011 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.38 percent based on loans closed in September. This is a decrease of 0.18 percent from the previous month.

Washington, DC - October 26, 2011 - (RealEstateRama) -- Congressman John Tierney released the following statement in response to the Federal Housing Finance Agency (FHFA) decision to enact a series of changes to the Home Affordable Refinance Program (H...

CHARLOTTE, NC - October 26, 2011 - (RealEstateRama) -- Average mortgage rates have dipped slightly week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.

WASHINGTON, D.C. - October 26, 2011 - (RealEstateRama) -- Mortgage applications increased 4.9 percent from one week earlier, which included the Columbus Day holiday, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 21, 2011.