RISMEDIA, July 21, 2009-(MCT)-Despite efforts by the federal government and banks to stop the home foreclosure disaster, frustrated borrowers are still battling red tape and delays in their attempts to negotiate lower payments, even as hundreds of thousands of them lose their homes every month. Banks say they’re swamped with inquiries and are just now completing the first mortgage “ loan modifications ” under the Obama administration’s Making Home Affordable plan, the program begun in... Read Full Story
Here is an interesting question for anyone who sells a loan to an investor/servicer: If the loan is modified, are you, as the seller, still “on the hook” for the reps and warranties you gave when you sold the original loan? Servicers use the Home Affordable Modification Program (HAMP) and other non-HAMP modification efforts to avoid foreclosure whenever possible and keep the borrowers in their homes. Some servicers, such as Wells Fargo, may have a policy that states “we consider... Read Full Story
Wells Fargo plans to sell $10.4 billion in new stock to help repay all $25 billion in bailout aid it received from the government at the height of the market meltdown last fall. The announcement from the San Francisco-based bank comes hours after Citigroup said it would repay $20 billion worth of taxpayer funds. The move will extricate Wells Fargo from the pay restrictions and close oversight that came with the bailout program. The company said it paid $1.4 billion in dividends to the... Read Full Story
SAN DIEGO, Calif. /Advertising Industry Newswire/ — Del Mar DataTrac, Inc. (DMD), the leading provider of affordable mortgage lending automation solutions, and an industry pioneer in business intelligence, document imaging and management, and loan process workflow tools, is reintroducing its DataTrac product suite with new names. DMD’s flagship product, DataTrac, has been the mortgage lending workflow automation solution of choice for lenders since 1991, providing a platform that integrates... Read Full Story
SAN DIEGO, Calif., Dec. 16 (SEND2PRESS NEWSWIRE) -- Del Mar DataTrac®, Inc. (DMD), the leading provider of affordable mortgage lending automation solutions, and an industry pioneer in business intelligence, document imaging and management, and loan process workflow tools, is reintroducing its DataTrac product suite with new names. DMD's flagship product, DataTrac, has been the mortgage lending workflow automation solution of choice for lenders since 1991, providing a platform that... Read Full Story
My wife asked me last night, “What would you do if I won the Lotto?” I said, “I’d take half, then leave you.” “That is excellent,“ she replied. “I won $12 bucks, here’s $6, now get the heck out.”
Life throws surprises at us all the time, and unfortunately for every single person in this industry, or so it seems, the looming RESPA changes have the potential of bogging down the business. And it is not even a surprise – we’ve known about it for months! Loan agents are confused... Read Full Story
The Federal Financial Institutions Examination Council (FFIEC) proposed to the Federal financial institution regulatory agencies guidance on managing compliance and reputation risks presented by reverse mortgage products.
According to the statement from the agency, reverse mortgages present safety and soundness challenges since they rely primarily on the sale of the collateral property for repayment, and they have not been tested through the credit life cycle.
It adds that although... Read Full Story
WASHINGTON (Reuters) - Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday. Starting December 12, the automated system that the government-controlled mortgage finance company uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850, the newspaper reported... Read Full Story
When planning for your future it is important to take into account the fact that you will need a regular income, no matter what the source of that income is, it is imperative that you plan ahead or…
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Mortgage Loan Modification 6 – Home & Real Estate Marketing Nov08... Read Full Story
Here is a list of directories for local Boise Idaho businesses. Most are free. The more directories a business is listed on, the more it helps a companies site on Google’s ratings. If there are any directories that I missed, please let me know. Thank you!
BoiseBoiseBoise.com
Job and Business Idaho
Show Me Local
City Data
Zoom Info
Hoovers
City Search Boise
The Free Ad – Boise
City Star Boise
The Boise Net
OnLine Biz Directory
I Sleuth Boise
Boise Visitor... Read Full Story
