Daily Mortgage News There is a new Bill out there called the Frank Bill. This Bill is to limit mortgage securitization. Basically they want lenders to hold on to more of their mortgages which would cause them to pay more attention to the quality of the loan. The resaon I say this because this [Read More]

Daily Mortgage News If your a buyer and your currently applying for financing or have to apply for financing NOW is the time to do it cause rates are being re-priced for the WORSE! So lets get those rates locked in before the lenders update their price sheets (rates). Also Daily Mortgage Rates C [Read More]

Daily Mortgage News Wow rates down to 2%... thats right 2%! It the governments new 5 year arm. The borrower refinancing under the new program would be offered a rate as low as 2% for 5 years and after that the rate can be brought up gradually up to what the conforming loan rates were at the time t [Read More]

Daily Mortgage News "Making Home Affordable" That is the program that is here to help about 4 to 5 million homeowners across the country. You must have a current mortgage with either Freddie Mac or Fannie Mae  and the home must be your primary resdidence. The payment would be reduce [Read More]

Daily Mortgage News Homeowners facing foreclosure are not alone! Donald Trump himself and his lenders had to temporarily suspend litigation on his Chicago Hotel project. They have about 90 days to negotiate a settlement over the 92 story development. This will help Trump finish the construction on [Read More]

Daily Mortgage News HSBC is out! HSBC is a UK based bank that at one point was America's top subprime lender, which explains their shutting down in the US! The American retail bank and credit card division of HSBC will remain open here in the states. HSBC has actually been renamed HFC & Be [Read More]

Daily Mortgage News We have an interesting week ahead of us. Most important President Obama's Homeowner and Stability Plan, which is going to help stabalize  the market and let homeowners refinance, will be giving us details by Wednesday. Stay tuned because once those details are rel [Read More]

Daily Mortgage News Refinancing will soon be an option again. If you own a home and owe up to 5% more than your homes value you will now qualify to refinance. Your mortgage just has to be held by Fannie Mae or Freddie Mac. This is the President and Congress trying to limit the number of foreclosur [Read More]

Daily Mortgage News The government is winning points in the mortgage industry with me! They are currently trying to help First Time Homebuyers with credit offers of up to $8,000.00 to tax payers who qualify.  This is under The American Recovery and Reinvestment Act of 2009 in the form of a ta [Read More]

Daily Mortgage News JP Morgan Chase has cut their stock dividend from .38 cents to .05 cents per share which is 87%! Chase actually did this hoping that it would allow them to pay back the the$25 Billion from TARP. JP Morgan Chase is not the only bank trying this though, Bank of America has cut th [Read More]