Feds seize bank - once a leading mortgage lender. It may turn out to be most expensive collapse ever. One thing is sure: The credit crisis is still with us.IndyMac is down. Fed has seized this once a leading mortgage lender. This shows that the credit crisis is still looming over the heads of the […]
The demand for new home may take 2 years more to return to the normal rate, in the prevailing situation. This is the concern expressed by the Head of National Association of Home Builders.
In general any recession in housing sector recovers fast which is absent this time. So, the stability of housing sector may need […]
In between the mortgage crunch, the rates of 30, 15-years mortgages have risen in the last week. Freddie Mac recently announced about the increase in the rates. The 30-year fixed mortgage rate reached 5.88 percent while 15-year fixed rate mortgage reached 5.42 percent.The 30 year mortgage rate stood at 5.85 percent and 15-year mortgage rate […]
In the last year there were 52,868 reports of fraud in mortgage applications. This is a rise of 42% from the previous year. So, the lenders concern over it and their tightening of the rules are not matters of surprise.
The Treasury Department’s Financial Crimes Enforcement Network revealed the information recently. According to the network, last […]
The senate has agreed on working together to develop a package to help deal the foreclosure issue. It was indeed a surprise move where both Republicans and Democrats leaders agreed to find a common solution. But, the time is short and so, the senate needs to work fast to use this deal for the benefit […]
