All Entries Tagged With: "Finance"
Thornburg Mortgage reports $3.31 billion first-quarter loss
Thornburg Mortgage Inc who specialise in jumbo home loans, has reported a $3.31 billion first-quarter loss, which is why they almost went bankrupt in March. The mortgage company has also reported that it has a net loss before preferred stock dividends totalled
UK banks and building societies increasing mortgage fees
Just as you thought that the mortgage crises could not get any worse in the UK, we here that a number of UK banks are now increasing their mortgage fees. Buying a property is now more expensive, and you have to wonder if things will get even worse. Just 18 months ago 22 out of [...]
Homeowners would like longer term fixed-rate mortgages
In a recent survey that was taken out, most homeowners have said that they would like the option to have a longer term fixed-rate-mortgage, if they had the choice. The poll which has been taken was conducted by
100% mortgage borrowers now facing negative equity
If you are one of the 23,200 borrowers who took out a 100% mortgage in the year up to March 31st, then the BBC has said that they could now be facing the prospect of negative equity. This is the result of falling house prices hitting the UK, so your
Industry changes making it harder for mortgage brokers to earn
Michael Dougherty, who is a managing partner at Choice Mortgage L.L.C, is just one of thousands of mortgage brokers who are still finding it hard to make a living with tougher lending changes. These tough changes were brought in to affect after the subprime-lending collapse, these changes had to be made for the industry to [...]
Low interest rates are a thing of the past
With the current credit crunch going on most of us will be hoping that interest rates will fall, but the truth of the matter is, they will likely rise instead. Many experts believe that the next move will be up instead of down, so it seems that homeowners are in for a
105 percent Mortgages still available
As many of us already know the bubble in the housing market is bursting, but you will be shocked to know that you are still able to buy homes with no money down. Well it is even possible to get yourself a 105 percent mortgage, but the downside is that
Nationwide records biggest monthly fall in UK house prices
Nationwide have released some shocking figures which show that UK house prices have slid to 2.5% in the month of may, this is the biggest monthly drop that the Building society have ever recorded. This huge drop came as a surprise too many economists, as they were
Bank of America Corp. choose employee to run mortgage business
Bank of America Corp. was using David Sambol along with Barbara Desoer to run their consumer mortgage operations, well now Sambol is set to retire and the bank has said that they will stick with one of their own executives to run this department. BAC has
Prison sentence for two men involved in mortgage fraud
Two men involved in a mortgage scam have been given a prison sentence of 70 months and five years supervised released. The two men are only just a small part of a much larger scam, in all the operation which saw other men steal up to $2.3 million from local
4.6 percent drop in mortgage applications due to rate rise
According to the trade group Mortgage Bankers Association’s, mortgage applications have fallen by 4.6 percent for the week ending May 23, this is all due to the recent rate rise. Volume has also declined in the refinance market as well by
Buy to let mortgages have increased for purchasing residential property
There just might be a glimmer of hope in the mortgage industry, well for Buy to let anyway. In the latest figures for mortgages taken out for the use of purchasing residential property, it has now increased from the previous month’s figures. The figures from
Fall in mortgage lending now affecting house sales
April is now the second lowest month on record for mortgages being approved, and this is now starting to have an affect on the housing market. The slump in these approved mortgages is down by at least 39 per cent, compared to the same time last year. The first signs that we was in for [...]
Leeds Building Society dumps mortgage papers in street
It seems as if more and more banks and building societies are not disposing of their customers details in the correct way. The latest to be guilty of this is Leeds Building Society in Belfast, as mortgage details of their customers were found on the street by a group of girls. As you would imagine [...]