Mortgage Rates Resume Climb

Author:  //  Category: Mortgage

Mortgage rates resumed their climb this week, after a brief respite prior to the Christmas holiday, according to this week’s Freddie Mac rate survey.

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Mortgage Rates Resume Climb

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Record Low for Mortgage Market Index

Author:  //  Category: Mortgage

The Mortech-Mortgage Daily Mortgage Market Index was 140 for the week ended Dec. 29.

The index was 205 seven days earlier.

The Mortgage Market Index has never been this low since launching on Dec. 17, 2009.

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Record Low for Mortgage Market Index

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Pending Home Sales Show Modest Gain

Author:  //  Category: Mortgage

Pending home sales posted a modest increase in November, as the housing market gradually comes back from the stunning lows of last summer.

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Pending Home Sales Show Modest Gain

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Scotiabank Offers Canadians Advice to Kick-Start their Finances in 2011

Author:  //  Category: Mortgage

TORONTO, Ontario, December 30, 2010 — With the new year days away, resolutions are top-of-mind for Canadians. When making that yearly commitment to go to the gym or keep the house organized, Scotiabank encourages Canadians to also consider taking stock of their finances. Scotiabank offers financial advice on how to start 2011 on the right track.

Review your financial plan. If you …

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Scotiabank Offers Canadians Advice to Kick-Start their Finances in 2011

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FL LOs Given More Time for NMLS

Author:  //  Category: Mortgage

The Florida Office of Financial Regulation announced an extension of time for loan originators to complete their applications under the Nationwide Mortgage Licensing System.

The deadline had previously been set for Dec. 31.

However, in a news release the department said that LOs would now have until March 31, 2011.

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FL LOs Given More Time for NMLS

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1.5 Million Modifications Since 2008

Author:  //  Category: Mortgage

From the beginning of 2008 through the middle of this year, 1.5 million modifications were completed by banks and thrifts, the Office of the Comptroller of the Currency reported.

Third quarter permanent loan modifications were 233,853.

Driven by a sharp drop in Home Affordable Modification Program activity, the volume of all modifications was off 13 percent from the prior three-month period.

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1.5 Million Modifications Since 2008

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Foreclosures Up, But Mortgages Stable

Author:  //  Category: Mortgage

U.S. foreclosure activity rose sharply in the third quarter of the year, not because more people were getting in financial trouble, but because lenders were working through a backlog of delinquent borrowers who had exhausted their options for avoiding foreclosure.

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Foreclosures Up, But Mortgages Stable

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New Penn Originates Over $1 Billion

Author:  //  Category: Mortgage

New Penn Financial LLC originated $1.1 billion during this year.

Business was up 22 percent from 2009.

Next year, the company will overcome a drop in refinance business by expanding its traditional retail presence and community bank channel.

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New Penn Originates Over $1 Billion

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New Mortgage Rules Criticized

Author:  //  Category: Mortgage

New lending rules would weaken consumer protections against predatory lending by allowing creditors to avoid penalties for misstating the real costs of mortgages, a leading consumer advocacy group contends.

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New Mortgage Rules Criticized

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Delinquencies Down, Foreclosures Up

Author:  //  Category: Mortgage

The number of homes in foreclosure rose for the fifth consecutive month in November, even as mortgage delinquencies declined across the board, as lenders cut back on sales of distressed properties in the wake of the robo-signing controversy.

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Delinquencies Down, Foreclosures Up

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