Mortgage Lending News     Click to continue . . .

  •   Mortgage Banker and Broker Southwest Funding Defies Economic Odds
DALLAS, TX, March 18, 2010 /24-7PressRelease/ -- Ask anyone in the mortgage business today how he or she is feeling about their career choices, and you may get a somewhat defeated response. But you won`t get that response from Southwest Funding owner Don Yount. Yount and his team at Southwest Fundings corporate headquarters in Dallas, Texas are enjoying their own boom - which is unusual when so many in the mortgage business are going bust.
Southwest Funding - 45870,24/7 Media,   03/18/2010

  •   REOs and Short Sales Account for 50% of California Home Sales
Foreclosed homes taken back by lenders and distressed short sales accounted for nearly half of all residential home sales in California in 2009, according to a market report released this week by the California Association of Realtors. As one of the hardest-hit states by the housing downturn, the Golden State is littered with bank-owned properties and homes facing foreclosure, but the lower prices and increasing buyer appetite for these deals are helping to reduce some of California's distressed inventory.
DSNews.com,Admin,   03/17/2010

  •   Housing Doesn`t Fare Well in John Burns Report Card
By grade school standards, the U.S. housing market would most likely get grounded, according to John Burns Real Estate Consulting's (JBREC) monthly report card issued this week. The market research and due diligence firm gave housing an overall grade of D+. Affordability, which the firm says is probably the most important indicator of short-term housing market performance, was able to pull out a C-, but the nation's housing supply got an F.
DSNews.com,Admin,   03/17/2010

  •   LPS Study Finds Pace of Delinquencies Is Slowing
While delinquency rates in the United States continue to reach new highs, the pace of deterioration has slowed, Lender Processing Services (LPS) said Monday. Still, company's analysts caution that the nation's housing market remains far from a full recovery. According to LPS' latest Mortgage Monitor report, nearly 7.5 million loans are in some stage of delinquency or foreclosure, with an additional one million properties in REO or post-sale foreclosure.
DSNews.com,Admin,   03/17/2010

  •   Four More Community Banks Closed by Regulators
The tally of bank casualties in the wake of the real estate downturn and the ensuing economic crisis continues to swell. This weekend, regulators shut the doors on four more regional lenders - two in New York and one each in Florida and Louisiana. That brings the number of institutions on the FDIC's failed bank list to 30 for the year.
DSNews.com,Admin,   03/17/2010

  •   Wells Fargo Surpasses Half Million Modification Mark
As of February 28, 2010, Wells Fargo & Co. had 505,832 active trial and completed modifications through its own modification programs and the federal Home Affordable Modification Program (HAMP). According to the administration's February HAMP report card released Friday, Wells Fargo completed more permanent modifications than any other HAMP servicer.
DSNews.com,Admin,   03/17/2010