Rate rises fail to dampen mortgage demand (icWales) MORTGAGE approvals in November were at their highest level since the end of 2003, an indication that interest rate hikes have had no immediate cooling effect.read more...
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Wachovia officials confirmed that the bank has hired Wall Street giant Goldman Sachs Group. Wachovia Corp. has hired Wall Street investment firm Goldman Sachs Group for advice on the bank's loan portfolio.read more...
Federal and State Agencies Announce Pilot Project to Improve Supervision of Subprime Mortgage Lenders (Federal Reserve Board) Three federal agencies and two associations of state regulators will cooperate in an innovative pilot project to conduct targeted consumer-protection compliance reviews of selected non-depository lenders with significant subprime mortgage
Mortgage Standards Tightened Federal regulators are casting a disapproving eye on mortgages that give borrowers low introductory rates but let them pile up more debt over the long run - a
Sector Glance: Mortgage Lenders (AP via Yahoo! Finance) Shares of mortgage lenders fell Thursday after Countrywide Financial Corp. said its mortgage lending shrank significantly last month.read more...
Everybody knows that today’s homeowners handle their mortgage debts differently from earlier generations. They gladly sign up for monster-sized mortgages and skimp on down payments. They have unhealthy appetites for financing techniques that lower monthly payments by deferring reality—interest-only loans, option ARMs and negative amortization loans.
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