Falling mortgage rates motivated an increasing number of borrowers this week to inquire about a refinance, though inquiries for purchases were also higher. Rates, however, are poised to deteriorate. Refinance activity more than doubled compared to a year ago. Despite a widening spread over conforming rates, more jumbo borrowers were out shopping for a loan. [...]
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Mortgage Activity Up Again
February 4th, 2012 
davidguide 
Posted in Business Loans 
Tags: Feb, Index, inquire, Mortech, Mortgage, mortgage activity, mortgage market, mortgage rates, percent, prospective borrowers 
Comments OffClass Action Targets NV Foreclosure Processors
January 31st, 2012 davidguide Six companies that process foreclosures in Nevada have been named as defendants in a lawsuit that seeks class-action certification. The firms are accused of engaging in debt collection activity even though they were not licensed as debt collectors in the state. The lawsuits are in addition to foreclosure lawsuits recently filed against Bank of America [...]
Posted in Business Loans Tags: action targets, bank, bank of america, bank of america corp, Collection, debt, debt collectors, Lenders, Processors, six companies, State Comments OffRates Increase But Might Retreat
January 27th, 2012 davidguide The average 30-year fixed-rate mortgage this week climbed 10 basis points from the previous week. A 7-basis-point elevation was recorded for the average 15-year mortgage. But rates could see-saw and wind up around 10 BPS lower in next week’s report based on an analysis of data from the Department of the Treasury. View full post [...]
Posted in Business Loans Tags: 30 year fixed rate, 30 year fixed rate mortgage, basis, department of the treasury, elevation, fixed rate mortgage, post, Retreat, Treasury, wind, year fixed rate mortgage Comments OffCalifornia Congressman Caught in Countrywide VIP Web
January 23rd, 2012 davidguide A California congressman was caught off guard when he learned he was among a group of legislators who received a home-equity loan at special terms from Countrywide Financial Corp. VIP program. Rep. Elton Gallegly (R-Calif.) closed on a $77,000 HEL eight years ago at a rate of 5.75 percent. The first mortgage in the transaction [...]
Posted in Business Loans Tags: california congressman, countrywide financial corp, elton gallegly, Financial, home equity loan, Loan, Mortgage, percent, program rep, transaction, VIP Comments OffBofA Moves Backwards With HAMPs
January 19th, 2012 davidguide Completed and active modifications from all mortgage servicers under the Home Affordable Modification Program increased by more than 15,000 during November. That was better than the gain previously calculated for October. A noteworthy item about the November report is that Bank of America, N.A.’s, completed modifications fell by 12,245 HAMPs from October. View full post [...]
Posted in Business Loans Tags: Affordable, bank, bank of america, BofA, Completed, home, mortgage servicers, October, post Comments OffAppraiser Used IDs of Other Appraisers
January 15th, 2012 davidguide An Ohio appraiser will spend four years in prison over admittedly using the identities of other appraisers on inflated reports. The state’s Division of Real Estate and Professional Licensing revoked Daniel J. Nichter’s appraisal license in 2008 because he violated legal and professional standards with an inflated appraisal. But that didn’t stop Nichter from completing [...]
Posted in Business Loans Tags: appraisal license, appraiser, appraisers, dozen, indictment, Licensing, Other, post, professional licensing, professional standards, State Comments OffCMBS Issuance Projected to Increase
January 11th, 2012 davidguide This year’s issuance of commercial mortgage-backed securities is projected to increase by around 7 percent from 2011′s volume. Improved fundamentals in commercial real estate — including rental rates, occupancy levels and valuations — will offset global issues that are currently hurting the CMBS market. Securitization is expected to continue to play a significant role in [...]
Posted in Business Loans Tags: CMBS, commercial mortgage backed securities, global issues, Issuance, mortgage backed securities, occupancy levels, percent, post, Recovery, Securitization Comments OffHoliday Hangover Hampers New Business
January 7th, 2012 davidguide Business picked up from the Christmas week but was still anemic. At 183, the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended Friday was 40 percent higher than in the previous report. The index, however, slipped 1 percent from the same week in 2011. View full post on Mortgage [...]
Posted in Business Loans Tags: Business, business business, Hampers, Hangover, Index, market index, Mortech, mortgage market, percent, post Comments OffLittle Demand Seen for Home Purchase Financing
January 3rd, 2012 davidguide Negative equity, weak credit and unemployment are standing in the way of many prospective homebuyers who would like to take advantage of today’s historic mortgage rates. While most economists don’t have a bright outlook for 2012, at least one believes the market is poised to rebound. Thirty-year mortgages fell below 4 percent for the first [...]
Posted in Business Loans Tags: attractive rates, bright outlook, demand, Equity, financing, home, market slump, negative equity, percent, prospective homebuyers, unemployment Comments OffOhio a Mortgage Hub for Chase
December 30th, 2011 davidguide One of the biggest mortgage operations at JPMorgan Chase & Co. is in the Columbus, Ohio, area. The region is home to 7,000 Chase mortgage employees. This year, nearly 2,000 positions were filled by Chase in Central Ohio, including hundreds of mortgage jobs. View full post on Mortgage Stories
Posted in Business Loans Tags: chase mortgage, columbus ohio area, home, Hub, JPMorgan, jpmorgan chase, Mortgage, mortgage operations, region, View Comments Off
