Category Archives: Finance
Quicken Loan Targeted by the Center for Public Integrity
Quicken Loan, one of the nation’s largest mortgage lenders that has “survived and thrived” in today’s difficult market due to avoiding subprime loans and dicey practices, boasts the number one spot in surveys for customer satisfaction and has been rated as “one of America’s best places to work.” However, the Center for Public Integrity (CPI) … Continue reading
CA Mortgage Applicants Boast Highest Credit Scores in the Country
If you are a lender, then California is likely looking pretty good right now. A state-by-state study conducted by Mortgage Marvel indicates that the average credit score in California is 755, which is 20 points higher than the national average[1]. The online mortgage-shopping service’s product manager, Rick Allen, expressed surprise at the results, pointing out … Continue reading
US Homebuilders Remain Pessimistic
Although most projections show that the housing market should start to make a very slow recovery this year, homebuilders are not joining in the atmosphere of cautious optimism. In fact, they are downright discouraged and don’t expect much to change for them any time soon, reported the National Association of Home Builders (NAHB) yesterday[1]. The … Continue reading
Massachusetts Foreclosure Ruling: Good News or Isolated Case?
The economy may be getting back on its feet and trying to forget the hurts of the past, but it will have a hard time doing that as foreclosure cases are still trying to get a clear grounding [1]. A recent ruling on two Massachusetts foreclosures is now the talk of industry experts. Is it … Continue reading
The REJournalOnline’s Week in Review
January 2-7, 2011 Major Commercial Developer Sees Commercial Real Estate Indicators as “100 Percent Positive” Jan. 03, 2011 – CB Richard Ellis chief executive Brett White considers 2011 commercial real estate indicators to be “100 percent positive,” he told the Washington Post[1]. “There is no question that we are in the early days of a … Continue reading
Investors To Blame For Failed Loan Modifications, Says Banks; Evidence Disagrees
The heat is on, as mortgage servicers make an appearance in a Congressional hearing on foreclosure procedures this week. And banks and other mortgage servicers, who rarely place the blame of failed loan modifications on investors, are now singing to a different tune. A top mortgage official in a major mortgage servicer opts to highlight … Continue reading
China Says No To New Property Loans
Even the world’s fastest-growing economy has its fair share of problems in the current shaky global economic growth. With a series of events threatening to raise asset bubbles and accelerate inflation, China has implemented tighter measures – especially for the property market. State-run China Real Estate Business reports that the Asian country’s four biggest banks … Continue reading
Servicers Earn More With Foreclosures Than Loan Modification
There have been too many news regarding errors on foreclosures and the paperwork that accompanies it. Given that homeowners on default have the option for loan modification, it is a wonder why banks do not just go that route. An attorney with the National Consumer Law Center gives the reason behind this. National Consumer Law … Continue reading
Years Of Saving On County Fees May Now Cost Banks Billions Of Dollars In Penalties
Sometimes, when people try too hard to save money they end up spending more – it has even become a comic relief as it became a theme in some comic strips. But it becomes unfunny when it seems to cheat the nation of millions of dollars in funds. This is exactly what’s happening right now, … Continue reading
The Crazy Idea Just Might Work: Bring Back Mortgages For Non-Prime Borrowers
The housing market has been on the dumps for two years now and solutions being implemented do not seem to work. Different analysts, economists, and other insiders are suggesting ways to help the market on its way to recovery. Sometimes, the most insane ideas come afloat but they do not necessarily have to be dismissed … Continue reading