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Foreclosures Decrease; Mortgage Woes Don't (Washington Post)
The number of foreclosures in Charles County dropped in the second quarter of the year, but residents still face significant mortgage troubles, according to a report issued this month by the Maryland Department of Housing and Community Development.
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Mortgage-fraud reports are up (Philly.com)
Efforts to tighten lending standards appear to have had little effect so far, as reports of mortgage fraud increased 42 percent in the first quarter of 2008 from the same period of 2007.
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Two Rochester-area mortgage brokers merging (Rochester Democrat and Chronicle)
Mortgage brokers Rochester Area Mortgage Services and Prime Mortgage Corp. plan to merge and expand into the mortgage banking business.
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Mortgage modifications reach record in July (Pittsburgh Post-Gazette)
The nation's mortgage companies modified a record 192,034 loans last month, setting up repayment plans or changing terms to avert foreclosure.
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Pace of mortgage aid by industry rose in July (AP via Yahoo! Finance)
The pace of the mortgage industry's efforts to assist troubled borrowers increased last month, an industry group said Wednesday.
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Fannie, Freddie Mortgage Profit Rises With Debt Costs (Update2) (Bloomberg.com)
Aug. 27 (Bloomberg) -- The crisis of confidence that sent Fannie Mae and Freddie Mac debt costs to record highs above U.S. Treasuries is also providing the mortgage-finance companies with the biggest profits on new investments since at least 1998.
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Mortgage applications rise 0.5% as most rates dip (USA Today)
The Mortgage Bankers Assocation said Wednesday that its composite index of loan applications rose a seasonally asjusted 0.5% the week ended Aug. 22, as interest rates slipped.
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Mortgage volume rises (CNN Money)
Number of new mortgages up less than 1% last week, survey says. WASHINGTON (AP) -- Mortgage application volume rose less than 1% during the week ended Aug. 22, according to the Mortgage Bankers Association's weekly application survey.
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Mortgage applications up 1st time in 3 weeks: report (Reuters via Yahoo! News)
U.S. mortgage applications rose for the first time in three weeks as interest rates edged lower, an industry group said on Wednesday.
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Thornburg Mortgage Teeters on the Edge (New York Times)
Thornburg Mortgage , a specialist in jumbo home loans, said its survival remained in doubt following additional margin calls, but it is on track to complete a restructuring and avoid collapse.
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Comment by Christopher Whalen
Lender's and Financial Info