Moody’s Investors Service reported a number of recent downgrades to government mortgage-backed securities. Delinquency of at least 60 days on securitized government loans stands at around 36 percent for 2006 vintage RMBS. "Moody’s expects loss levels on FHA-VA pools to rise further as the general level of remaining delinquencies remain elevated and loss severities increase," [...]
As of June, there were 7,691 federally insured credit unions, the National Credit Union Administration reported. At the end of last year, credit union count stood at 7,806. The count had been as high as 9,014.Read more…
Can Hud 1 Settlement Statement Help Troubled Borrowers?
To answer the question title, yes, the HUD 1 settlement statement can really help borrowers, not to save his life from debts but to minimize his payments through itemizing all the things that are to be disposed of in order to pay his debts in a given period [...]
The Georgia Department of Banking and Finance said Friday that it took possession of Georgian Bank and handed it over to the Federal Deposit Insurance Corporation as receiver. All of the bank’s $2 billion in deposits as of July 24 were assumed by First Citizens Bank and Trust Company Inc. In addition, First Citizen’s acquired [...]
New Truth in Lending Act Regulation Z rules require an escrow account for taxes and insurance on home equity loans, according to Fiserv Inc. — which recently said that its loan servicing platform now helps servicers comply. Financial Industry Computer Systems Inc. announced the introduction of eMessaging Service in August. GCC Servicing Systems reported in [...]
Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
Loan Losses Spark Concern Over FHA
Some 7.8% of FHA loans at the end of the second quarter were 90 days late [...]
FHA says won't need congressional support – Yahoo! News
WASHINGTON (Reuters) –
The U.S. Federal Housing Administration said on Friday it would not need a congressional subsidy even if mortgage-related losses push its reserves below a level demanded by Congress.
Rising losses at the FHA, part of the U.S. Department of Housing and Urban Development, raise the
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The Federal Bureau of Investigation announced the arrest of Jordanian citizen. The defendant came to the FBI’s attention because of "vehement" statements about his desire to commit violent jihad as a "soldier for Usama Bin Laden and al Qaeda." He attempted to blow up a bomb at Fountain Place — a 60-story building in Dallas. Among [...]
Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
five of the best mortgage deals
The rate is 3.49 per cent, but borrowers will need to be careful to factor in [...]
The Mortgage Bankers Association last month has proposed a draft purchase and sale agreement for whole loans. In a selling notice announcement, Fannie Mae said Refi Plus loans with loan-to-values above 105 percent can continue to be delivered beginning Sept. 1. Correspondent lender Affiliated Mortgage Co. has become a preferred investor for Lenders One Mortgage [...]
