The U.S. Senate and House of Representatives voted Thursday to extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac. The higher loan limits of $729,750, which were scheduled to expire at the end of 2010, have been extended for…
Monthly Archive
for: ‘September, 2010’
OfferSubmission Says It Can Sell REOs Faster for More Money
Woodward Asset Capital recently released a statement detailing the capabilities of OfferSubmission, a hosted application designed to ease confusion and stem losses and discrepancies due to missed offers and poor organization. The company says transacti…
Mortgage Rates Fall to New Lows…Again
How low can we go? When it comes to mortgage rates, the floor keeps dropping. Industry reports released Thursday show that interest rates for home loans – already at their lowest marks in more than a half-century – dropped again this week. Market analy…
Financial Stability Oversight Council to Hold First Meeting
Tomorrow, Friday, October 1, Treasury Secretary Tim Geithner will host the Financial Stability Oversight Council’s first meeting at the U.S. Department of the Treasury. Geithner is the chairperson of the Council. The meeting will include both a closed …
Ambac Suing BofA over Countrywide Mortgage-Backed Securities
Ambac Financial Group, Inc. opened a lawsuit against Bank of America Corp. over improperly underwritten loans the company says the bank’s Countrywide unit used to induce it into purchasing mortgage-backed securities.
After reviewing 6,533 of the 268,…
Fannie Mae Downsizes Portfolio as Delinquencies Decline
The nation’s largest mortgage financier is shrinking its portfolio. Fannie Mae reported this week that its holdings declined at a compound annualized rate of 4.1 percent in August, while its total book of business fell by 1.3 percent.
At the same ti…
Countdown To Buy Launches Private Label Solution
The online real estate marketplace Countdown To Buy recently launched “powered by Countdown To Buy,” a private label solution featuring the company’s online offer management and negotiation platform. According to the company, the new designation enable…
Realtor.com Unveils Redesigned Site
California-based Move, Inc. launched a redesigned Realtor.com Web site that uses new technology to combine multiple searches to help customers find properties and agents that suit their needs faster and more efficiently. Move, Inc. says the primary obj…
Fabrizio & Brook Attorneys Named to Head Bar Association Committee
Jonathan L. Engman of Fabrizio & Brook, P.C., headquartered in Troy, Michigan, was recently appointed chairman of the Real Property Committee of Michigan’s Oakland County Bar Association for the 2010-2011 term. Marc P. Jerabek, also of Fabrizio & Broo…
Wealthbridge Mortgage to Close Doors, Lay Off 109
Due to a failed business acquisition with Venn Capital Group Holdings, LLC, Wealthbridge Mortgage will be closing its doors.
The Oregon based Wealthbridge has already laid off 16 employees and announced it will lay off its remaining 109 employees i…
