An Iowa appeals court loan has voided a loan made by U.S. Bank, N.A. The case involves a refinance transaction closed in 2004 without the signature of the spouse. After the borrower died, his estate unsuccessfully attempted to have the note voided. But the appeals court reversed the lower court’s ruling.Read more…
Discover Helpful Advice About Mortgage Refinance and Find Out Important Info About bank mortgage refinancing and mortgage refinance no closing costs. Mortgage Rates Fell yet again this week. The 30 year fell from 5.04 to 4.94. This marks the 5th week in a row where mortgage rates have either fallen or held steady. For the [...]
Get Important Info About Refinancing A Mortgage and Find Useful Advice About 40 year mortgage rates and 30 year fixed refinance.
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A new settlement costs booklet required under the new Real Estate Settlement Procedures Act rule was published last week, according to a letter from the Consumer Mortgage Coalition to the U.S. Department of Housing and Urban Development. But mortgage lenders are expected to implement the new booklet within two weeks. The coalition is asking that [...]
On Dec. 4, AmTrust Bank was closed by the Office of Thrift Supervision. New York Community Bank agreed to assume AmTrust’s deposits and acquire the majority of its assets assets. New York Community Bank, however, suspended new originations after the acquisition. But a spokeswoman has confirmed to MortgageDaily.com that originations have resumed.Read more…
The newly created position of chief financial officer at USA Mortgage has been given to Dave Parks, according to a news release. Willie Newman will head a new residential mortgage unit at Cole Taylor Bank, a statement said. Ed Bratton was named president and CEO of ViewPoint Bankers Mortgage, parent ViewPoint Bank announced.Read more…
Freddie Mac announced that it has ordered its attorneys to suspend all evictions on foreclosed residential properties that are occupied. Fannie Mae issued an almost identical statement. Earlier, Citigroup Inc. said its mortgage units would suspend foreclosures for around 4,000 borrowers.Read more…
Subprime delinquency of at least 60 days fell 141 basis points between September and October, according to data reported by HOPE NOW. But prime delinquency was 25 BPS higher during the same period. Completed foreclosure sales on subprime loans were down 15 percent from September. But prime reposessions were up nearly a quarter.Read more…
A bankruptcy court ruling which allowed the trustee to treat a mortgage as an unsecured claim was upheld by a U.S. District Court judge. The New York judge that recently overturned a foreclosure on a $292,500 loan has ordered the bank and the borrowers back to court to discuss a recent letter from IndyMac Mortgage [...]
