California regains jobs from recession, but not wages

Author:  //  Category: Mortgage

… take hold.
Subprime lenders that had given out mortgage loans like candy …

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California regains jobs from recession, but not wages

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Town, County Lose Appeals Against GSEs

Author:  //  Category: Mortgage

A federal appeals judge ruled in favor of the government-sponsored enterprises in separate lawsuits filed by municipalities in two different states.

The ruling came Wednesday out of the U.S. Court of Appeals for the First Circuit in cases filed by the town of Johnston, R.I., and Bristol County, Mass.

Johnston and Bristol County filed their lawsuits against Fannie Mae, Freddie Mac and the their conservator and regulator the Federal Housing Finance Agency.


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Town, County Lose Appeals Against GSEs

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Wells Fargo Mortgage Files Stolen

Author:  //  Category: Mortgage

More than a thousand customer files stolen from a dozen Wells Fargo Home Mortgage Offices were used to rip off the identities of Wells Fargo clients.

A ring of criminals conspired to take the files from 12 Wells Fargo offices. In all, 1,800 mortgage customer files were taken.

Then, in 2012 and 2013, the group went on a multi-state spree posing as the victims and opening accounts in their names.


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Wells Fargo Mortgage Files Stolen

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Nazarbayev warns of global economic crisis if sanctions against Russia escalate

Author:  //  Category: Mortgage

… 2008, when the U.S. sub-prime mortgage crisis spawned an American recession … spread across the globe. The mortgage crisis stemmed from lenders making …

Nazarbayev warns of global economic crisis if sanctions against Russia escalate

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BofA Says GSEs Knew What They Were Buying

Author:  //  Category: Mortgage

Bank of America Corp. says the government sponsored enterprises knew what they were getting from Countrywide Financial Corp. and wants a jury verdict that left it with a huge penalty thrown out.

A federal judge in Manhattan last month imposed a $1.3 billion penalty on BofA after a jury determined that fraud had been involved in the sale of loans.

Fannie Mae and Freddie Mac acquired “High Speed Swim Lane” loans from Full Spectrum Lending, a subprime lender BofA inherited through its 2008 acquisition of Countrywide.


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BofA Says GSEs Knew What They Were Buying

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Need a loan? Easy steps to polish your credit history

Author:  //  Category: Mortgage

… way, and one well known sub-prime lender is apparently “considering … if you have a missed mortgage payment in the past – … that things like getting a mortgage may still be years away … is compliance manager at Irish Mortgage Brokers
Twitter: @Cweston_Indo
Sunday Indo …

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Need a loan? Easy steps to polish your credit history

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Portfolio Lender Formed From Acquisition

Author:  //  Category: Mortgage

An acquisition by a Michigan financial institution provided a foundation for the creation of a portfolio lender that will invest in non-agency mortgages.

Lathrup Village, Mich.-based Michigan First Credit Union announced that it completed the acquisition of Watson Group Financial this past January.

Since it finished the purchase process, Michigan First has been busy working on transitioning the new subsidiary and completing its integration.


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Portfolio Lender Formed From Acquisition

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FHA Business Leads Drop in Mortgage Activity

Author:  //  Category: Mortgage

An improvement in interest rates was overcome by the holiday effect, and new mortgage business slowed. Government-insured activity tumbled the most.

A 9 percent decline from seven days earlier left the U.S. Mortgage Market Index from LoanSifter/Optimal Blue and Mortgage Daily for the week ended Aug. 29 at 157.

Activity was also down from the same week in 2013, with LoanSifter users pulling an average of 17 percent fewer inquiries in the latest report versus a year earlier.


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FHA Business Leads Drop in Mortgage Activity

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Longer loans fuel auto sales

Author:  //  Category: Mortgage

… score, same quarter:
Deep subprime $20,226
Subprime $22,008
Nonprime $24 … by credit scores:
Deep subprime 300-549
Subprime 550-619
Nonprime 620-679
Prime 680-739 … market crater, much like the mortgage-finance meltdown that began in 2007 …

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Longer loans fuel auto sales

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Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Ocwen Financial Corporation of Class Action Lawsuit and Upcoming Deadline — OCN

Author:  //  Category: Mortgage

… things, that Ocwen's mortgage servicing practices violated applicable regulations … practices in connection with its mortgage servicing business was published. A … Times article titled “Big Subprime Mortgage Loan Servicer Agrees to $2 …

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Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Ocwen Financial Corporation of Class Action Lawsuit and Upcoming Deadline — OCN

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