Mortgage News

THE expense of a new mortgage is deterring people from taking the plunge into home ownership with the number of loans taken out in March the lowest since August 2005. via News.com.au

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“On top of that, you've got Citi selling assets, which in the long run is a good thing, but it implies several more years of turmoil and restructuring.”

Equity markets overseas were pushed lower as the price of oil topped $125 a barrel. via Daily Times

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“The word alone causes people's blood pressure to rise. It's a hard-sounding word, phonetically in sync with its impact on people's lives”

It's a hard-sounding word, phonetically in sync with its impact on people's lives," writes Tamara Draut in the foreword to the compelling "Up to Our Eyeballs: How Shady Lenders and Failed Economic Policies Are ... via Tampa Bay Online

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COMMENT By Kenneth R. Harney Saturday, May 10, 2008; Page F01 A legal brawl is breaking out over how homes are appraised, at what cost and by whom. via The Washington Post

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“You tell yourself, 'I'm only going to put my things in for a short time,' ”

ELK GROVE VILLAGE, Ill.- The foreclosure crisis is hitting yet another American locale: the self-storage center. via Worcester Telegram & Gazette

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“If anything, they may come under pressure to ease further, though at present this is not our base case.”

Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy ... via BNET

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May 9, 2008 FNC's premier analytic product-GAAR - can help lenders comply with provisions that will require them to report the results of quality control testing, officials of the mortgage technology company ... via Commercial Property News

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“This means treating borrowers in arrears fairly and sympathetically, and being willing to negotiate with borrowers in trouble”

Lenders have come under pressure to do more for struggling homeowners after the number of people threatened with losing their homes rose to its highest level for 16 years. via Hereford Times

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A friend of House Speaker Salvatore DiMasi has registered as a lobbyist after causing a flap by helping ticket brokers push a bill through the House that lifts restrictions on their business. via Boston.com

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“House Democrats passed bills that they know will never become law. Most Americans understand that we shouldn't create a taxpayer-funded bailout for lenders and speculators”

Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the ... via EagleTribune.com, North Andover, MA

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