Mortgageonline
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Posts by Mortgageonline
Tips to avoid loan-modification scams
Mar 11th
The local Loan Modification Scam Alert Campaign reminds people who are having difficulty paying their mortgage to avoid loan modification scammers.
“These predators are now preying on good, hard-working people who have been victimized by this economy,” said Attorney General Peter Kilmartin. More >
Mortgage market rise on AIG news
Mar 11th
AIG said on Thursday it made the offer to the Federal Reserve Bank of New York for the residential mortgage-backed securities it gave up at the height of the financial crisis. The Fed on Friday confirmed it received AIG’s offer for the bonds, held in Maiden Lane II, an entity formed in late 2008 as part of AIG’s bailout.
For more than a year, the insurer has been preparing the offer on the bonds, whose values have soared despite rising foreclosures on the underlying loans. An index of top-rated subprime securities has rallied more than 50 percent since the depths of that market in April 2009, according to Amherst Securities Group. More >
Mortgage rates
Mar 11th
5-year ARMs decreased at Wells Fargo under their home purchase program. 30-year fixed loans decreased under the lender’s refinance program.
At Chase Mortgage, 15-year fixed loans and 5-year ARMs decreased under their home purchase program. 30-year fixed loans and 7-year ARMs decreased under their refinance program.
5-year ARMs, 30-year fixed rates, interest only and 5-year ARMs interest only all decreased at Bank of America under their purchase program. Under their refinance program, 30-year fixed rates, 5-year ARMs and 5-year ARMs interest only all decreased.
It appears that only 10-year fixed rates decreased today at US Bank. The only other changes seen for their 3 and 5-year ARMs. More >
