Mortgages Blog

Tuesday, April 26, 2011 10:56 am
By Marcie Geffner · Bankrate.com

Lenders reported a bump in new mortgage applications in mid-April, but the uptick may turn out to have been more of a blip than an upswing in the trend line. The volume of new mortgage applications increased 5.3 percent in the week ended April 15 compared with the prior week, according to a survey conducted

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Monday, April 25, 2011 10:00 am
By Jay MacDonald · Bankrate.com

I know the foreclosure crisis has been super-bad, but now it’s even badder, given that it’s knocking on the door of the baddest, most ridiculously funky musician to ever emerge from the frozen north: the Minnesota Landowner Currently Known as Prince. Or MLCKP, if you prefer. The Carver County Sheriff’s Office reports that the multitalented,

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Friday, April 22, 2011 9:21 am
By Marcie Geffner · Bankrate.com

Four hundred seventy-five pages. That’s the length of the Federal Reserve’s latest notice of a proposed rule to implement a federal law that says lenders must determine whether a borrower has the ability to repay a mortgage. The issue of whether a borrower can repay a loan is naturally somewhat tricky. But 475 pages? That’s longer

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Thursday, April 21, 2011 3:32 pm
By Polyana da Costa · Bankrate.com

Owning a home that is worth less than what you owe on your mortgage isn’t fun. But if the thought of walking away from this mortgage has ever crossed your mind, you might want to know that someone may be watching you. FICO announced it has developed new technology to predict which borrowers are more

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Wednesday, April 20, 2011 1:42 pm
By Polyana da Costa · Bankrate.com

The Fed is proposing a rule that would require lenders to make sure borrowers can afford payments before they are issued a mortgage loan. Isn’t that common sense?  You would think so but it was the lack of basic, commonsense rules that allowed lenders to give out mortgages to people who clearly couldn’t afford them

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Tags: Mortgages
Monday, April 18, 2011 10:26 am
By Marcie Geffner · Bankrate.com

“The five-year swoon in home prices has done little to shake the confidence of the American public in the investment value of homeownership.” That’s the key finding of a new nationwide Pew Research Center survey that queried about 2,140 adults in late March. Indeed, more than 80 percent of those polled said buying a home was

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Friday, April 15, 2011 3:56 pm
By Polyana da Costa · Bankrate.com

A new bill that would give lenders 45 days to respond to short sale requests was introduced in the in the U.S. House this week. If passed into law, the Prompt Decision for Qualification of Short Sale Act of 2011, would “require the lender or servicer of a home mortgage, upon a request by the

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Friday, April 15, 2011 3:34 pm
By Holden Lewis · Bankrate.com

It will cost more to get an FHA-insured loan, starting Monday. You have this weekend to apply for an FHA-insured mortgage and grab the lower premiums. The Federal Housing Administration insures mortgages, and it has a two-part premium structure. There’s an upfront premium, which is a percentage of the loan amount and is paid at

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Tags: FHA, Mortgages
Friday, April 15, 2011 9:07 am
By Holden Lewis · Bankrate.com

Overall inflation was about the same as expected in March. When you ignore fuel and food, inflation was lower than expected. Mortgage bond yields are down this morning, and that should keep a lid on mortgage rates today. I’m not saying mortgage rates will fall, but this Consumer Price Index report won’t make them rise.

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Friday, April 15, 2011 8:50 am
By Marcie Geffner · Bankrate.com

Borrowers, mortgage markets, communities, courts and mortgage investors are all victims of loan servicers’ inadequate foreclosure policies and practices. That’s one clear conclusion of a new 15-page report, “Interagency Review of Foreclosure Policies and Practices,” issued by the Federal Reserve, Office of the Comptroller of the Currency and Office of Thrift Supervision, three federal agencies

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