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clipmonkey

US Plans Recapitalization Plan For Financial Firms

October 11, 2008

clipped from www.cnbc.com

US Plans Recapitalization Plan For Financial Firms

As the financial crisis threatens to spiral out of control, U.S. Treasury Secretary Henry Paulson is taking extraordinary steps through the extensive authority granted to him under emergency rescue legislation.

US Plans Recapitalization Plan For Financial Firms

As the financial crisis threatens to spiral out of [...]

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Local Banks Understand Local Market Risks

February 4, 2008

Perhaps these mortgages will actually be for real property. Maybe the loan officer might even visit the property?

clipped from www.orlandosentinel.com

Orlando-area community banking startup rakes in capital, officials say

Right out of the gate, a new bank being formed in Orlando has landed millions of dollars in startup capital despite the turbulent [...]

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Orlando Bankruptcy Increases

January 23, 2008

Overzealous investors trying to flip homes face financial ruin when no buyers emerge for their investment properties.

clipped from www.sun-sentinel.com

South Florida Sun-Sentinel.com

Personal bankruptcies jump 96% in Metro Orlando

Personal bankruptcy jumps 96% in Orlando The mortgage crisis is affecting borrowers at all income levels.

Nearly 7,060 debtors declared insolvency in Orlando’s federal bankruptcy court [...]

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Bank of America Acquires Countrywide

January 11, 2008

clipped from www.prnewswire.com

Creates Largest U.S. Mortgage Lender and Servicer
CHARLOTTE, N.C., Jan. 11 /PRNewswire/ — Bank of America Corporation
today announced a definitive agreement to purchase Countrywide Financial
Corp. in an all-stock transaction worth approximately $4 billion.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b)
The purchase will make Bank of America the nation’s largest mortgage
lender and loan servicer. This [...]

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Foreclosures VS Fraud

December 6, 2007

Interesting table below – if you remove Nevada* from the top foreclosure list and slide everyone else up a position you would have a direct correlation between the top 3 foreclosure states and the top 3 mortgage fraud states. 7 of the 10 top mortgage fraud states are on the top 10 list of [...]

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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.
[...]

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Countrywide Financial Corp. lost $1.2 billion in the third quarter

October 26, 2007

clipped from www.11alive.com

LOS ANGELES (AP) — Countrywide Financial Corp. lost $1.2 billion in the third quarter, but its shares soared Friday after the nation’s largest mortgage lender said it expects to be profitable this quarter and next year.

It was Countrywide’s first quarterly loss in 25 years.

But the Calabasas, Calif.-based company said it will [...]

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Michael Vick’s Atlanta Mansion Up For Sale

October 23, 2007

clipped from www.therealestatebloggers.com

The Atlanta Journal Constitution is reporting that Michael Vick, the former Atlanta Quarterback and nortorious dog fighter, is selling his Duluth, Georgia home for 4.5 million dollars.

The home located at 2927 Darlington Run Duluth, GA has 7 bedrooms and 8.5 baths. The home is located in the Sugerloaf Country Club, an [...]

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Sub-prime mortgages not protected by bankruptcy laws

October 23, 2007

clipped from www.responsiblelending.org

Under current law, subprime homeowners have two choices: they can get a loan modification, or they can lose their home through foreclosure.? Bankruptcy – the traditional option of last resort– is virtually useless, because current law prevents bankruptcy courts from assisting with the very debt that is causing the problem today [...]

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Countrywide Refinance Program for Adjustable Rate Mortgages

October 23, 2007

clipped from www.wlox.com

CALABASAS, Calif. (AP) – The nation’s largest mortgage lender will begin offering refinancing or modifications on $16 billion in loans whose interest rate is set to adjust by the end of 2008.

Countrywide’s president and CEO David Sambol says “unprecedented times call for unprecedented remedies.” He says Countrywide is determined to help [...]

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Mortgage History

October 8, 2007

clipped from www.mcall.com

The evolution of the modern mortgage

Most people assume home mortgages have been around forever.

But it wasn’t until the 1930s — and then thanks to insurance companies and the Federal Housing Administration — that long-term mortgages for home purchases came to be.

Insurance companies, not banks, started mortgages. And it wasn’t because [...]

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Countrywide Launches America’s Open House Campaign

October 3, 2007

Real Mortgage People at Open Houses

clipped from www.prweb.com

Countrywide Launches America’s Open House Campaign

[...]

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Home Sales Slowing

September 28, 2007

clipped from www.wisn.com

New Home Sales Hit 7-Year Low
Report Comes Week After Interest Rate Cut

POSTED: 4:32 pm CDT September 27,
2007
UPDATED: 4:37 pm CDT September 27,
2007

WASHINGTON — The government reported Thursday that new home sales fell more steeply than expected last month. The decline of more than 8 percent took home sales down to the [...]

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Senators blame Credit Agencies

September 27, 2007

Sub-prime mortgage woes are blamed on conflict of interest by credit agencies says Washington Senators…

clipped from www.bradenton.com

Several members of the Senate Banking Committee questioned rating agency executives about whether they provided advice to investment banks that issue complex mortgage securities tied to subprime home loans.

“It seems to me that credit rating agencies are [...]

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Alan Greenspan's Bestseller

September 26, 2007

clipped from news.yahoo.com

A fascinating dispute on modern economics — and the dominant role it plays in our politics – is currently taking place in America’s bookstores.

On one side is [...]

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Why Lending Tree is Expensive for Consumers

September 25, 2007

This breakdown shows that the the cost per funded loan paid to lending tree is over $1900. That is nearly double the amount paid by most mortgage companies that buy leads.

clipped from leadcritic.com

LendingTree
cost per lead $65
success fee $850
conversion rate 6%
cost per [...]

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Home Finance Tips

September 25, 2007

clipped from www.kcra.com

(ARA) – Rates are up, rates are down. It’s a buyer’s market, it’s a seller’s market. If the housing market seems like a roller coaster for would-be buyers, that’s because it is. But understanding the most current trends can help buyers know when to get on — or off — the [...]

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Fed Chairman Remarks

September 25, 2007

clipped from www.msnbc.msn.com

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created “significant market stress” and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.

 

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Home Sales

September 25, 2007

clipped from www.msnbc.msn.com

NEW YORK – Sales of existing homes, depressed by turmoil in credit markets, fell for a sixth straight month in August, pushing activity to the lowest point in five years an industry trade group said Tuesday. A separate report showed that t
he nationwide decline in home prices accelerated in July, posting [...]

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