Mortgage News Archive

Report: Grand jury investigating 3 mortgage lenders (USA Today)
A federal grand jury in Los Angeles reportedly is investigating the nation's largest subprime mortgage lenders, Countrywide Financial, New Century Financial and IndyMac Federal Bank.

HUD: Defunct mortgage broker broke federal law (The Arizona Republic)
TUCSON- Defunct mortgage lender First Magnus Financial Corp. broke a federal law by providing incentive payments to mortgage brokers, according to a report.

Massachusetts: After Fax to Mortgage Firm, a Suicide (New York Times)
A Taunton woman fatally shot herself soon after faxing a letter to her mortgage company saying that by the time they foreclosed on her house that day, she would be dead.

U.S. mortgage rates rose during week (UPI)
WASHINGTON, July 24 (UPI) -- Interest rates for 30-year, fixed-rate mortgages rose in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

Housing bill key to cutting mortgage cost: Pimco (Reuters via Yahoo! News)
Cutting the cost of mortgages via the U.S housing bill and rescue package for mortgage finance giants Fannie Mae and Freddie Mac is the best way to help the ailing housing market recover, the manager of the world's biggest bond fund said on Thursday.

Prepay mortgage if you fear risk (Bankrate.com via Yahoo! Finance)
Your risk tolerance level determines whether prepaying the mortgage is wise, says Dr. Don Taylor.

Mortgages: Inflation fears send mortgage rates soaring (Market Watch)
Mortgage rates spike this week on inflation fears, with the benchmark 30-year, fixed-rate loan soaring more than a quarter percentage point to a national average 6.63%, its highest level in nearly a year, Freddie Mac says.