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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

Mortgage Delinquencies Decline Across the U.S.

Mortgage Delinquencies Decline Across the U.S.

According to a recent survey released by the Mortgage Bankers Association (MBA), the “latest delinquency numbers represent significant, across-the-board decreases in mortgage delinquency rates in the U.S.,” according to MBA’s chief economist, Jay Brinkmann. In fact, total delinquencies (not including homes already in foreclosure) are at the lowest levels since the end of 2008,...
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UK regulator hits Deutsche Bank lender with huge fine for subprime mortgages

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UK regulator hits Deutsche Bank lender with huge fine for subprime mortgages

U.K. regulator, the Financial Services Authority, announced Tuesday that it fined Deutsche Bank subsidiary, DB Mortgages, £840,000 (.35 million) for its subprime mortgage lending business practices. It is the first time the regulator charged a mortgage lender in the U.K. for irresponsible lending specifically in the subprime sector. Further, the FSA is securing £1.5...
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Fort Myers attorney indicted in mortgage fraud scheme

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Fort Myers attorney indicted in mortgage fraud scheme

A suspended Florida attorney is facing three decades behind bars for lying on a mortgage application as part of a much larger .2 million scheme. The defendant, John Evans, was indicted this week on one charge of wire fraud and one count of failure to file an income tax return, according to records filed...
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Chicago tops for mortgage fraud infection: Interthinx

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Chicago tops for mortgage fraud infection: Interthinx

The entire Chicago metropolitan area is at a very high risk of mortgage fraud, as localized risk is spreading rapidly. Chicago zip code 60621 remains the riskiest area in the nation, according to a quarterly mortgage fraud report from Interthinx. This trend is driving the Chicago area up from a "moderate risk" zone to...
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When Will Real Estate Values Begin to Appreciate Again?

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When Will Real Estate Values Begin to Appreciate Again?

When will the nation’s property values begin to appreciate again? This is the $64,000 question that real estate professionals, investors, and mortgage professionals would like to know. The truth is... [[ This is a content summary only. Visit my webs...
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National Economic Outlook (February 2011)

National Economic Outlook (February 2011)

Although the economy has officially been out of recession for quite some time, those aspects of economic behavior most important to the real estate markets, namely, jobs and borrowing, have remained stuck in the ditch.  The latest data suggest, however, that consumers will soon be spending more.  Jobs are growing at a faster clip,...
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Majority of Freddie Mac borrowers refinanced to fixed-rate loans in 4Q

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Majority of Freddie Mac borrowers refinanced to fixed-rate loans in 4Q

Fixed-rate mortgages accounted for the overwhelming majority of fourth-quarter refinancing on Freddie Mac loans. More than 95% of borrowers refinanced to a fixed-rate mortgage, with a strong trend toward shorter-term deals, according to the agency's quarterly Product Transition Report. Of the borrowers who refinanced from a 30-year FRM, almost one-third chose a 15- or...
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Servicers, loan insurer stocks soar on Treasury’s GSE report

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Servicers, loan insurer stocks soar on Treasury’s GSE report

Shares of mortgage insurers and servicers bounced as much as 13% Friday after the Treasury advocated a shift to a housing system that's predominantly supported by private sector lending. Shares of Radian Group (RDN: 8.03 0.00%), a private mortgage insurer, jumped 13.42% Friday, with the stock closing at .03 up from .08 a day...
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A New Way To Sell Your House – Bury St. Joseph In Your Yard

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A New Way To Sell Your House – Bury St. Joseph In Your Yard

Are you religious (or not) and looking for a new way to speed up the process of selling your home? If so, you may want to try what one person did to help sell her home in Brooklyn, N.Y. during this... [[ This is a content summary only. Visit my websit...
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Fed’s Raskin: No improvement in Mortgage Servicer operational performance

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Fed’s Raskin: No improvement in Mortgage Servicer operational performance

From Fed Governor Sarah Bloom Raskin: Putting the Low Road Behind Us. Excerpt: Late last year, the federal banking agencies began a targeted review of loan servicing practices at large financial institutions that had significant market concentrations in mortgage servicing. The preliminary results from this review indicate that widespread weaknesses exist in the servicing...
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