Refinance .net

In the past few weeks the market has seen average rates on 30 year
mortgages rise from 4.75% to 5.27%. That’s a jump of half a percent - a
whopping 11% rise in the cost of money for a typical borrower. If you
are thinking about refinancing, and missed doing it in the past couple
of [...]

The US Treasury department released new details this week on its upcoming program to encourage lenders to modify loans for homeowners.
The program includes annual payments to the lenders of up to 1000 for approving the modification and additional bonuses if the homeowners are still in their home five years from now. Investors [...]

When you take a few minutes to read the internal guidelines of lenders on setting up loan modifications, you often find reference to “MORTGAGEE LETTER 2008-21″ where the Department of Housing and Urban Development lays out for lenders the rules of setting up a loan modification compliant with regulations. We thought we would [...]

Financing.Org has a short piece covering President Obama’s remarks this weekend. In his remarks, the president makes it clear that he’s pushing banks to use a significant portion of the government’s bailout money to open up consumer and business lending. But the portion of his remarks that I found most telling was [...]

One of the most devastating factors in the national collapse of confidence in the home mortgage marketplace is the pervasive fraud that infested the mortgage brokerage system. In the good old days George Bailey made home loans to his neighbors and community. He knew who he was lending to, and had a pretty [...]

The Federal Office of Housing Enterprise released its statistics on the prices of homes nationwide. The report is a month by month and broken down by the nine national census districts. The data is based on the purchase prices of houses backed by Fannie Mae or Freddie Mac. So they have [...]