Mortgage lenders are ranked based both on how many new loans they originate and how many loans they service. By those measures, the biggest originator of home loans during the third quarters was Wells Fargo & Co. The biggest mortgage servicer, meanwhile, was Bank of America Corp. View full post on All Stories

Government-controlled mortgage buyer Fannie Mae is seeking additional federal aid after posting a narrower $3.46 billion loss in the third quarter. Fannie Mae also said it was likely that the foreclosure mess will have a negative impact on its loans. View full post on All Stories

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has downgraded 16 classes of J.P. Morgan Chase Commercial Mortgage Securities Corp. 2005-LDP2 commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this release. As a result of the expected losses on loans currently in special servicing, Fitch expects classes L through NR to be [...]

Typically home refinancing is done when you have a mortgage on your home and apply for a second loan to pay off the first one. While taking the decision to go for the home refinancing option, it is important to first determine whether the amount you save on interest balances the amount of fees payable [...]

So when should you consider seeking out a debt consolidation refinance? Typically, you should consider a debt relief loan as soon as your monthly bills become difficult or near impossible to pay. This early intervention through the use of a debt refinance loan will prevent you from having to pay outrageous interest rates, late payment [...]

A debt consolidation refinance does require a homeowner to have the available equity in their home to be able to add on debts to their mortgage. A homeowner also needs to have good credit, enough income and no late payments on their mortgage in order to qualify for the refinance. These things are necessary to [...]

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service on Thursday placed Wells Fargo Bank’s servicer quality ratings on review for possible downgrade. “The rating action is due to concerns about possible irregularities in [Wells Fargo Home Mortgage's] foreclosure process, specifically the process for completing and signing affidavits,” Moody’s said in a statement. Wells Fargo’s primary servicer [...]

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has downgraded 13 classes of Wachovia Bank Commercial Mortgage Trust, 2005-C17 commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this release. As a result of the expected losses on loans currently in special servicing, Fitch expects classes N through P to be fully depleted. [...]

As far as I am know, the FHA offers no such debt relief program when it comes to loans to buy homes. If you do not already own a home, and are looking to consolidate your debts into a mortgage at the time of purchase, I should tell you that this concept, while possible, can [...]

Fairway Independent Mortgage Corp. announced a new third-party origination program. The program is for loans insured by the Federal Housing Administration. According to the company, options available inlcude a referral relationship, traditional brokering and correspondent lending. View full post on All Stories

Shares of U.S. banks slid for a third day Friday as lenders and government officials came under mounting pressure to address claims that mortgage firms took illegal shortcuts in home loans and foreclosures. View full post on All Stories