Mortgage Company

Mortgage Company

Mortgage companies work differently than banks when it comes to your home loan needs. With a mortgage company, your mortgage application is sent to many large banks for approval and terms they are willing to offer for your loan. Through the mortgage company, you will be assigned a broker who will provide to you the [...]

Bank of America profits reach $4.2 billion in first quarter

April 20, 2009 First Time Mortgages

Bank of America funded $85 billion in first mortgages during the first quarter of this year, helping more than 382,000 people either purchase a home or refinance their existing mortgage, the company announced today.As the largest private mortgage lender in the country, Bank of America’s first quarter earnings report released Monday could indicate that mortgage [...]

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Treasury announces crackdown on mortgage fraud today

April 6, 2009 Mortgage Financing

Treasury secretary Timothy Geithner was scheduled to make remarks today on an initiative to align federal and state law enforcement to protect consumers against mortgage refinancing fraud.Under the Obama administration’s Making Home Affordable program, millions of homeowners may be seeking to refinance their mortgages to benefit from lower mortgage rates. But law enforcement and the [...]

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Freddie Mac: Average rates decline yet again

February 19, 2010 Mortgage Financing

The latest figures from Freddie Mac released on Thursday showed significant declines in the average rate for all mortgage types as February passed its midpoint.
According to the mortgage company’s Primary Mortgage Market Survey for the week ending February 18, the average rate for 30-year fixed-rate mortgages shed 0.04 percentage points to hit 4.93 percent. The [...]

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Mortgage rates declining this week, survey says

May 14, 2009 Mortgage Financing

After moving up last week in response to job losses that weren’t as bad as feared, a renewed dose of economic pessimism helped bring mortgage rates lower this week, according to a survey by Bankrate.com.
The average 30-year fixed mortgage rate fell this week to 5.21 percent, down from 5.27 percent last week, according to Bankrate.com’s [...]

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Study: those with good credit, payment history, more likely to ’strategically default’ on mortgage payments

September 28, 2009 Mortgage Financing

A recent joint study released by national credit bureau Experian and consulting company Oliver Wyman has found that an increasing number of homeowners are "strategically defaulting," or simply walking away, from their mortgage payments.
According to the survey, the number of strategic defaults in 2008 was well above the norm, more than doubling 2007’s default rate [...]

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Zillow: Mortgage rates stay low and steady

April 8, 2009 Mortgage Financing

Thirty-year fixed mortgage rates held steady across the country last week with a national average rate of 5.08 percent, a slight decrease from the prior week’s average of 5.09, according to mortgage monitoring company Zillow.com.Positive response to the Federal Reserve Board’s plan to buy U.S. Treasuries last week helped drive mortgage rates to near-record lows.Meanwhile, [...]

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