Fifth Third announced plans to expand in Tennessee.

The company said Geoff Hill was tapped to oversee the expansion as head of a new Tennessee mortgage division.

A spokeswoman told MortgageDaily.com in an interview that the bank entered the market with its 2004 acquisition of another bank.
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Navy Federal Credit Union reported that originations last year were up 9 percent over 2008.

The credit union also announced that it now provides 100 percent financing.

The higher loan-to-value is available on loans up to $650,000.
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Last week, four federally insured banks and thrifts failed.

Each institution was handed over to the Federal Deposit Insurance Corporation as receiver.

No buyer could be found for Waterfield Bank, which was closed by the Office of Thrift Supervision.

In addition, no buyer was found for Centennial Bank, which was closed by the Utah Department of Financial Institutions.
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During the quarter, 134 mortgage-related lawsuits were tracked in the Fourth Quarter Mortgage Litigation Index announced by MortgageDaily.com and prepared in conjunction with Patton Boggs LLP.

Case activity increased from 76 cases documented in the third quarter.

It was the highest quarter on record since tracking began in 2007.

Loan modification cases were the driving force behind the increase, more than doubling from the third quarter.
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Well Fargo Bank, N.A., was the biggest retail lender during the fourth quarter, according to data provided by the Federal Deposit Insurance Corporation to MortgageDaily.com.

The data were collected for first-mortgage activity at FDIC-insured banks and thrifts with at least $1 billion in assets or $10 million in quarterly originations.

Wells Fargo also grabbed the top wholesaler spot.
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"Pete Makowiecki has left MetLife Home Loans," the company said in a statement to MortgageDaily.com.

Makowiecki had been with the company and its predacessor for around nine years.

MetLife also confirmed the departure of its president, national marketing production.
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During February, reverse mortgage lenders originated 8 percent fewer reverse mortgages than in January, Reverse Market Insight reported.

Compared to February 2009, volume tumbled 23 percent.

Over the past year, the number of reverse mortgage firms has fallen 19 percent.
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GMAC acknowledged to MortgageDaily.com that changes are being considered for its 3-D correspondent program.

The program provides rapid Fannie Mae delivery for larger correspondents, GMAC said.

But the changes don’t signal a change in strategy.
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Read important advice about home mortgage – For the most part, people become weary and wary of the efforts made by the government to make their financial lives a bit easier. However, as a result of the financial crisis, more and more Americans are looking towards the Federal Government for answers – and when it comes to their struggles in paying off their home loans, here is what they came up with. br /
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The Top 5 Incentives Offered by the Government to Help Homeowners Out with their Mortgage Loans br /
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In an effort to revive the real estate industry, the federal government has launched several programs to aid homeowners with their mortgage loans. If you are a homeowner who is having problems paying off your mortgage loan or applying for one, here are the top 5 programs that you should look at as an option:br /
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1. American Recovery Reinvestment Act of 2009 Under this act, individuals who took advantage of mortgage loans provided by the Federal Housing Administration are eligible for refinancing their existing mortgage. The refinancing was made possible through the Economic Stimulus Act of 2008. br /
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2. Helping Families Save their Homes Act As a response to most homeowners having problems paying off their mortgages as a result of the economic problems, the HOPE for Homeowners Program was amended. For this, those who are having problems paying off their mortgage loans will be granted a reprieve. The financial relief comes in the form of reduced origination fees, incentives to mortgage service providers and reduced administrative burdens. Also, any new loan requirements will be made consistent with the standard loan practices set by the FHA. br /
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3. Home Affordable Refinance Program This financial assistance offered by the government is designed for borrowers who have a solid payment history on an existing mortgage. Under this federal program, homeowners will be made eligible for refinancing even if the value of their home is less than their current mortgage debt. You are only qualified for this program if your mortgage loan is owned or securitized by Fannie Mae or Freddie Mac. br /
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4. Home Affordable Modification Program The Home Affordable Modification Program was created to modify the existing mortgage payment of a homeowner. As a result, the one who obtained the loan can avoid foreclosure and better afford their monthly payments.br /
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To take advantage of the Home Affordable Modification Program, the mortgage should have originated on or before January 1, 2009. There is also a certain amount that the home loan should not exceed, and the house should be an owner-occupied primary residence. The good news is that these loan modifications will be made available until the last day of December in the year 2012 – so you can still make inquiries if you are having problems paying off your home loan. br /
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5. HOPE for Homeowners Program Finally, theres the HOPE for Homeowners Program. Under this plan, homeowners who are struggling to pay their monthly mortgage can refinance their existing mortgage. The refinancing will be under the FHA-insured mortgage that you can afford. If your mortgage originated on or before January 8, 2008 and you made a minimum of six full payments on your existing first mortgage, you might just qualify for the HOPE for Homeowners Program. You need to hurry up, too, because the program will only last until the end of September, 2011. br /
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By taking advantage of any of these five programs, you can rest assured that you will slowly but surely ease yourself out of the financial burden that you find yourself in.br /
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Find Out important tips about refinance – Get your mortgage interest rate written down on paper. Mortgage rates change daily, and just because you can get a low interest rate now does not mean that the rate will be available when you refinance. You must ask the lender or bank to jot down the IRs you qualify for, and have them sign it. While this offer will not be valid for a considerable time, it can frequently lock in your rates for a minimum of 3 days. This should give you enough time to compare different offers.br /
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Before heading to a bank to test out your refinancing options, you first need to know exactly what your place is worth. If your home value has dropped to the point that you owe more than its worth, you must get the value of your house back to the point where you have enough equity to borrow against. This might comprise putting in some reasonably pricey upgrades.br /
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Your mortgage broker is well informed about how laborious and maddening attempting to refinance your house loan can be. He knows that the very last thing you want to do is go thru the process numerous times. The first offer hes going to make to you wont contain the lowest rates, and will probably have some slightly to significantly inflated charges.br /
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As detailed as this article is, dont forget that you can find more information about best refinance mortgage calculator or any such information from any of the search engines out there such as MSN.com. Commit yourself to finding specific information therein about florida mortgage refinance and you will.br /
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learn if your credit has changed at all since you originally got your home loan. Blemished credit ratings may affect the rates you get, and the loans terms and conditions. Take care of any mistakes or small money issues.br /
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Dont let small mistakes affect your mortgage refinancing eligibility, or the price you finish up paying for one. Check credit report document, and then check it again. Make sure it is 100% correct before turning it in with your claim. If there are any errors, make sure theyre corrected before refinancing a mortgage.br /
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House owners need to understand that even a little mistake, on your claim or credit rating, can carry gigantic results. Always request your copies of credit history, so you can check for errors. Tiny mistakes can get a house owner denied, or not let them get the lowest rates they can. Also, the application to your lender is crucial. Always confirm all earnings and statements made on your refinancing application can be verified. If there are any questions which a bank cannot answer, you will get denied.br /
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Many people searching for mortgage refinance arizona also searched online for mortgage refinance deals,how does refinancing work, and even mortgage refinance reviews.br /
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