Mortgages Blog

Monday, September 19, 2011 4:30 pm
By Judy Martel · Bankrate.com

In the ongoing effort to reform Fannie Mae and Freddie Mac, the acting director of the Federal Housing Finance Agency, or FHFA, the regulator that oversees the two agencies, proposed charging higher mortgage fees and sharing some of the lending risk with the private sector. At a mortgage conference Monday in Raleigh, N.C., FHFA acting

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Thursday, September 15, 2011 2:23 pm
By Judy Martel · Bankrate.com

A decline in the number of homes for sale would seem to be a positive sign for the troubled housing market, but the traditional rules don’t apply these days. Although housing inventory dropped in August to the lowest point so far this year — and down 19 percent from a year ago according to Realtor.com — real

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Tuesday, September 13, 2011 3:12 pm
By Judy Martel · Bankrate.com

A three-year investigation by the Securities and Exchange Commission (SEC) into mortgage finance companies Fannie Mae and Freddie Mac is close to being settled, according to an article in the New York Times, without either of the two mortgage companies admitting fraud or paying a fine. But the settlement, possibly later this year, will be

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Monday, September 12, 2011 9:00 am
By Jay MacDonald · Bankrate.com

Remember that kerfuffle last fall over “robosigners,” those over-caffeinated paper-pushers who forged and rubber-stamped their way through thousands of foreclosure documents a day in order to ram them through our overwhelmed court system? Turns out they’re still at it. Stop me if you’ve heard this one: “Several dozen documents reviewed by American Banker show that

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Thursday, September 8, 2011 4:15 pm
By Polyana da Costa · Bankrate.com

Banks can work with borrowers, help them avoid foreclosure and remain profitable. That’s a lesson large lenders should learn from Webster Financial Corp., a regional bank based in Waterbury, Conn. The bank, which services $8 billion in mortgages and home-equity loans, has been able to prevent foreclosures, for the most part, by helping borrowers and

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Thursday, September 8, 2011 9:03 am
By Judy Martel · Bankrate.com

You’ve shopped around and finally zeroed in on a low mortgage rate. Your credit is stellar and you’re ready to pull the trigger. Trouble is, the lender has no incentive to give you the advertised lowest rate and offers a rate a full percentage point higher. In a frustrating turn for those seeking a mortgage,

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Wednesday, September 7, 2011 1:20 pm
By Polyana da Costa · Bankrate.com

Congress has an array of issues to deal with as it returns from the summer break this week. One topic could have a major impact on real estate closings scheduled for next month. The National Flood Insurance Program, or NFIP, the only affordable  flood insurance option for those who own homes worth less than $1

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Monday, September 5, 2011 1:21 pm
By Judy Martel · Bankrate.com

The big banks are fielding a barrage of litigation and accusations for their part in the mortgage mess. The latest salvo came from the Federal Housing Finance Agency, or FHFA, which oversees Fannie Mae and Freddie Mac. The regulator filed suit Friday against 17 major banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.

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Friday, September 2, 2011 1:56 pm
By Polyana da Costa · Bankrate.com

The Fed may switch gears into riskier territory to support a plan that could push mortgage rates even lower than they are now, in an effort to spur refinances, help underwater borrowers and boost the housing market. I know, you’re tired of hearing about all these government plans that sound good in theory but do

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Friday, September 2, 2011 9:25 am
By Polyana da Costa · Bankrate.com

Nada! Not a single job was added to the economy in August, the Labor Department said Friday. That’s the first time in 11 months that the United States did not show a net increase in jobs. The unemployment rate remained at 9.1 percent, with 14 million Americans out of work. Economists didn’t expect great news

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