Blowing the Lid Off the Mortgage Industry
From the category archives:
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The mortgage industry changed in the last year. Most companies have found themselves under significant financial pressure. Some mortgage firms have disappeared. Others have grown and expanded their market share by acquiring struggling competitors.
The number of mortgage loan originations [...]
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The Obama administration has announced a new program to help borrowers with second mortgages stay out of foreclosure. Under this program, the government will pay mortgage servicers $500 upfront and $250 a year for three years if they successfully modify a second mortgage, such as a home equity loan.
The Treasury Department says second mortgages are [...]
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Leading residential mortgage banker Lend America has set a company-wide goal to save a minimum of 10,000 homes for owners facing foreclosure during 2009.
“Bearing in mind the nightmare of foreclosure confronting homeowners across the country, our ‘homes saved’ goal is not altruistic; its an absolute necessity,” said Nicholas Bratsafolis, Senior Managing Director – Structured Refinance [...]
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The Internal Revenue Service (IRS) is giving struggling American homeowners a gift this holiday season. No, they aren’t canceling homeowners’ tax debt. They are, however, making it easier for distressed homeowners to avoid having a federal tax lien block the sale or refinancing of a home. They are also expediting the process for requesting a [...]
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Gang, I’m happy to announce Blown Mortgage News, a user-generated link blog of the latest mortgage and real estate news and information. You can access the new news site at http://news.blownmortgage.com.
The Premise
I can’t cover all the news these days, but want you to know about it.
You have access to great sources of information that can [...]
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Everyone seems to be wagging their fingers right now at the banks for not learning the lessons of the S&L crisis in the 1980’s.
Oh, Contraire. As the Becker-Posner blog points out, the banks DID learn lessons from the S+L crisis. A grossly abbreviated summary: thrifts and S&L’s made spectacularly bad loans, betting big on [...]
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