The loan blog

Fed Economists Say Mortgage Changes May Not Stem ForeclosuresBloombergJob losses and falling home prices have a bigger impact on delinquencies than mortgage terms, and modifications aren’t necessarily a better deal for investors than foreclosures, according to a paper by two current and one former economist at the Boston …Boston Fed Policy Discussion: Reducing ForeclosuresistockAnalyst.com [...]

BBC News

On Economy, Obama Sees Glimmers of Hope and Signs of ProgressWashington Post, United StatesThe main problem with the article's focus and many of the comments on it is their short-term focus. Spending $787 billion dollars can't help but have some positive impact on the economy, but such an outcome will be essentially ephemeral, …Video: Obama: [...]

Credit.com News

The Mortgage Professor Plan to Help Borrowers Is Too Narrow-MindedWashington Post, United StatesBy Jack Guttentag Most of the small print about the Obama administration's plan to help beleaguered mortgage borrowers is now available. In my view, it is coherent and well thought out, but disappointing in its limited scope. The program is designed to …Fremont [...]

Housing Fund offers tax credit loansBizjournals.com, NCThe Housing Fund will start offering a Tax Credit Access Loan program for first-time buyers next week to give buyers up-front funds to purchase a home. The loan is designed to help first-time homebuyers with annual income of up to $75000 to buy a home …

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HispanicBusiness.com

Disclosing Energy EfficiencyWashington Post, United StatesAnd he thinks mortgages should come with lower rates or better terms to encourage purchases and retrofits that save energy. "When you buy a car, you know very clearly what the energy efficiency of that is because there's a number on the window. …HUD Warns, Advises Families Facing ForeclosureHispanicBusiness.comNo Help for [...]

Center for Consumer Freedom: Center for 'Responsible' Lending …PR Newswire (press release), NYCRL is currently the advocacy arm of a billion-dollar financial network that is a direct competitor of the short-term loan industry, and which charges its customers fees for services that cost more than short-term payday loans. …Rollover Bans Don't Stop Payday TrapPR Newswire (press [...]

Credit.com News

BofA starts refinancing home loansCredit.com News, CaliforniaBy Sarah Beldo If you are looking for a better deal on your home loan but do not qualify for traditional refinancing, some help could be on the way. Bank of America announced it has begun processing the initial wave of mortgage loan refinancing …Fremont Bank Has Loaned $800 [...]

BBC News

Obama urges families to refinance mortgagesBoston Globe, United StatesWASHINGTON – Declaring "good news" in the midst of an economic meltdown, President Obama yesterday urged families to take advantage of near-record-low mortgage rates by refinancing their home loans. "We are at a time where people can really take …Video: Obama: Economy Showing 'Glimmers of Hope'The Associated [...]

Delinquency Rate Climbs On FHA-Backed LoansWall Street JournalNearly 10.2% of borrowers who took out FHA-backed loans in the first quarter of 2008 had missed at least two consecutive monthly payments within the first 10 months. That was up from 2007, when 9.4% of FHA-based borrowers missed payments within the …Assumable mortgagesKHSLA roundup of credit market [...]

United Press International

TEXT-S&P Lowers Rtgs On Chrysler llc's Senior Secured Term LoansReuters(The following statement was released by the ratings agency) April 10 – Standard & Poor's Ratings Services today said it has lowered its issue-level ratings on Chrysler llc's senior secured first-lien term loan due 2013 to 'CC' (the same as the 'CC' …Poll: Most [...]