"Not so long ago, during the height of the housing boom, roughly 40% of all new mortgages originated were stated income or low doc loans. Then came the financial crisis and the housing crash in 2007 during which time 39% of the sub prime mortgages, which included stated income and low doc loans, defaulted. With thousands and thousands of loans defa...Read More
"Citigroup said Thursday it would pay $73 million to settle charges by the Securities and Exchange Commission that the bank, as well as two of its executives, misled investors about the company's exposure to the subprime mortgage market....Read More
"I just read an article on reverse mortgages and how they can lead to big trouble. After I read the entire article, I became enraged. Not just angry, but really, really mad due to the fact that the man who calls himself the "ConsumerMan" obviously has no real understanding of the product and is reporting several items as "fact" that are completely ...Read More
"Prospective buyers trying to purchase Phoenix foreclosed homes to live in will have first dibs on 135 houses that mortgage giant Freddie Mac is auctioning off next month. Read more: http://www.azcentral.com/business/realestate/articles/2010/07/27/20100727biz-catherine0728.html#ixzz0v5tNAvP1...Read More
"Appraisal management companies (AMCs) have been around for a long time, but they became more prominent when the Home Valuation Code of Conduct (HVCC) rules were adopted by the government-sponsored enterprises. These rules were intended to provide a bumper between loan origination people – mainly, commissioned loan officers - and appraisers in orde...Read More
"Finally, things for the mortgage industry are starting to change. As historically low mortgage interest rates have been recently seen in the low to middle priced housing market, the jumbo mortgage is also making a come back....Read More
"If you are behind on your mortgage or struggling to afford your monthly payments, don’t wait—help is free! Call the Save the Dream Ohio hotline at 888.404.4674 today!...Read More
" Attorney General Peter Nickles announced today that his office has entered into an agreement with Morgan Stanley & Company, a New York investment banking firm, that resolves an investigation into Morgan Stanley’s mortgage warehouse financing practices relating to subprime home loans in the District from 2004 to 2007....Read More
Area Appraisal Services, Inc. 4865-A Cordell Avenue Suite 250 Bethesda, MD 20814