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Vegas Home Builder Gets Indicted Over Kick Back Scheme
A Las Vegas home builder was indicted Wednesday after allegations that he was arranging to sell properties at inflated prices in order to offer kick backs to home buyers and their agents.
Read More... Thursday, July 29, 2010
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All Mortgage Brokers Must Be Fingerprinted & Registered To Do Business
The Federal Reserve’s new regulations released yesterday require that all loan originators from this point on will have to be fingerprinted and sign up to a central registry in order to continue doing business.
Read More... Thursday, July 29, 2010
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Rate Fall For The 6th Week In A Row To 4.54%
Freddie Mac Announces rates on fixed rate loans fell yet again hitting a record low of 4.54% down from 4.56% last week and 5.25% just one year ago.
Read More... Thursday, July 29, 2010
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AmericanWest Bancorporation Announces Second Quarter Loss of $7.9 Million
AmericanWest Bancorporation today announced second quarter and year to date 2010 financial results, which included the following
Read More... Thursday, July 29, 2010
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The PMI Group, Inc. Reports Second Quarter Loss
The PMI Group, Inc reported a loss from continuing operations in the second quarter of 2010 of $150.6 million, or $1.11 per share.
Read More... Thursday, July 29, 2010
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FTC Orders 8 Companies To Return Nearly $30 Million To Scammed Homeowners
Federal regulators have barred eight companies from selling mortgage rescue services, proving allegations that they used misleading advertisements to swindle troubled mortgage holders out of what little money they had left.
Read More... Tuesday, July 27, 2010
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Washington Adds $1 Billion in Mortgage Aid for Unemployed
President Obama signed off on another $75 billion to modify loans last week that also includes $1 Billion for unemployed home owners that are facing foreclosure.
Read More... Monday, July 26, 2010
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Capital One Reports Second Quarter 2010 Net Income of $608 million
Capital One Financial today announced net income for the second quarter of 2010 of $608 million, or $1.33 per common share (diluted), versus first quarter 2010 net income of $636 million, or $1.40 per common share (diluted).
Read More... Friday, July 23, 2010
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Newport Bancorp Reports Results Profitable for Second Quarter of 2010
Newport Bancorp, Inc. the holding company for Newport Federal Savings Bank (the "Bank" or "NewportFed"), today announced second quarter earnings for 2010.
Read More... Friday, July 23, 2010
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Community National Bank Reports Good Second Quarter
Community National Bank today reported performance achievements for the quarter ended June 30, 2010, highlighted by the Bank's increase in earnings, improved capital position and growth in commercial loans and demand deposits.
Read More... Friday, July 23, 2010
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Defendant Gets 28 Years For Role In $3 Million Fraud
Darrell Marriott was sentenced to 28 years in prison this week for preparing a fraudulent loan document, his plea deal that requires him to enter the same plea in Kaufman County, the Texas Attorney General’s Office said.
Read More... Thursday, July 22, 2010
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SunTrust Reports Second Quarter Results Still Show Losses
SunTrust Banks, Inc. /quotes/comstock/13*!sti (STI 24.49, +2.07, +9.23%) said today that improved asset quality and operating trends led to a significantly narrowed loss in the current quarter as compared to the prior year and the first quarter.
Read More... Thursday, July 22, 2010
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Deutsche Bank Gets Slammed With a $7.5M Fine
Deutsche Bank has been fined $7.5 million for not telling the whole truth about delinquency data related to the issuance of certain risky mortgage securities.
Read More... Thursday, July 22, 2010
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Rate Hit New Low Record of 4.56%
Freddie Mac announced this week that the 30-year fixed-rate dropped to 4.56% with an average 0.7 point for the week ending July 22. In the previous period, the average was 4.57%, and the year-ago average was 5.20%.
Read More... Thursday, July 22, 2010
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Lenders Discriminating Against Expecting Mothers?
Banks are looking at loan applicants that have had a decrease in household income due to a leave from their employer, especially if they are new parents.
Read More... Wednesday, July 21, 2010
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Fannie and Freddie Investigation Shows $30 Billion Worth of Bad Loans
Regulators at Fannie and Freddie have identified $30 billion in bad mortgage bonds that they can force sellers to buy back, as stated by Joshua Rosner, who is the analyst that predicted the crash several years ago.
Read More... Wednesday, July 21, 2010
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MGIC Investment Corp. Announces First Profitable Quarter In Over 4 Years
MGIC Investment Corporation /quotes/comstock/13*!mtg/quotes/nls/mtg (MTG 8.40, +0.58, +7.42%) today reported net income for the quarter ended June 30, 2010 of $24.6 million, compared with a net loss of $339.8 million for the same quarter a year ago.
Read More... Tuesday, July 20, 2010
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Bank of America Completes 160,000 Loan Mods So Far In 2010
Through the first half of 2010, Bank of America has completed mortgage modifications providing homeownership retention solutions for about 160,000 homeowners who face difficulties in making their monthly payments due to economic conditions.
Read More... Tuesday, July 20, 2010
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National Mortgage Complaint Center Expands Its Free Mortgage Junk Fee Review
The National Mortgage Complaint Center is dramatically increasing its investigation of national title insurance companies, and or national mortgage banks up-charging third party costs.
Read More... Monday, July 19, 2010
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Horizon Bancorp Announces an Increase in Second Quarter Earnings
Horizon Bancorp today announced its unaudited financial results for the three and six month periods ended June 30, 2010.
Read More... Monday, July 19, 2010
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