From the monthly archives:

November 2007

Freddie Mac – can you spare $2 billion friend?

November 29, 2007

Freddie Mac is in need of more capital while Countrywide Financial Corp. says it is liquid. And problems at Option One Mortgage Corp., which could soon be shut down, led to yet another executive casualty.
Freddie announced today several actions to help shore up capital in response to a $2 billion third quarter loss. It has [...]

Read the full article →

Reverse Mortgages Explained

November 29, 2007

This is an infomercial for reverse mortgages but does a nice job of explaining the basics of reverse mortgages.
Note/Disclaimer : The ads are added by a third party and we do not endorse any of the advertisers or web sites mentioned in this video. We always recommend you talk to a LOCAL bank or [...]

Read the full article →

PR from CountryWide – "Dream Homes" Jumbo Loans are possible

November 29, 2007

Within Reach: Countrywide Home Loans Highlights Tips and Tools to Help Consumers Attain Their Dream Homes
November 28, 2007: 12:34 PM EST
CALABASAS, Calif., Nov. 28 /PRNewswire/ — Nearly one in six new mortgages made last year was more than $417,000 (known as jumbo loans) (1), indicating a strong, ongoing demand for financing options on higher-priced homes. [...]

Read the full article →

Housing Data

November 29, 2007

clipped from www.bloomberg.com

U.S. House Prices Decline for First Time Since 1994 (Update1)

By Sharon L. Crenson

Nov. 29 (Bloomberg) — U.S. home prices declined for the
first time since 1994 in the third quarter as foreclosures
increased and lenders tightened mortgage requirements, according
to a government report.
[...]

Read the full article →

The Mortgage Reform and Anti-Predatory Lending Act of 2007

November 3, 2007

The Mortgage Reform and Anti-Predatory Lending Act of 2007
Sec. 101. Definitions.
Establishes definitions for various terms, including: “mortgage originator,” “qualified nationwide registration regime,” “qualifying state licensing law,” “residential mortgage loan,” and “securitizer.”
Sec. 102. Residential mortgage loan origination.
Provides that all mortgage originators (including mortgage brokers and depository institutions that originate mortgages) will be subject to a federal [...]

Read the full article →

Andrew Cuomo Sues First American

November 1, 2007

N.Y. AG Andrew Cuomo said Thursday that his office sued First American and its eAppraisalIT unit for alleging colluding with Washington Mutual ….
From http://www.nctimes.com/articles/2007/11/01/ap/business/d8sl08m00.txt
New York Attorney General Andrew Cuomo said Thursday a major real estate appraisal company colluded with the nation’s largest savings and loan companies to inflate the values of homes, contributing to the [...]

Read the full article →