(Condominiums manchester nh) Countrywide Fundings Fall; Lines Up $12 Billion Credit
Countrywide Fundings Fall; Lines Up $12 Billion Credit
Countrywide issued its operational results for the
month of August and it comes as no surprise that the numbers were down.
Here is a recap of their results:
Loan fundings for the month of August totaled $34 billion, a 17%
decrease from August 2006.
…Additionally, the Company recently arranged for $12 billion
in additional secured borrowing capacity through new or existing
credit facilities;
How Long Will That Furnace Last? NAHB Study Has The Answer
The National Association of Home Builders (NAHB) in
partnership with Bank of America Home Equity recently completed a study
that should be of interest to home owners and home buyers, especially
those that are buying or living in homes that have been around for a
while.
According to the 2005 U.S. Census Bureau Housing Survey, there are
124.3 million homes in the U.S. housing inventory with a
median age of 32 years.
Data from the survey is reported several ways…
Listing companies work with a large network of specialized estate agents.
Mortgage Market Disruptions Short-Lived According To NAR
Lawrence Yun, senior economist for NAR said that unusual
disruptions are dampening the outlook for home sales, notably
for August and September. “There’s been an unusual hit to home sales,
starting in March when subprime problems emerged and more recently when
problems spread to jumbo loans, with many potential buyers on the
sidelines.
“However, the jumbo loan market is now beginning to
settle, and…”
Delinquency Rates Climb Mainly In Four States
Nationally the situation is not as dire as these figures would
indicate. The figures are being driven by what is happening in a few
large states and by adjustable rate mortgages, both prime and
subprime.
“What continues to drive the national numbers, however, is what is
happening in the states of California, Florida, Nevada and
Arizona. Were it not for the increases in foreclosure starts in
those four states, we would have seen a nationwide drop in the rate of
foreclosure filings…
After the broker completes these steps the lender conducts the underwriting process in which your risk as a borrower is determined.
Mortgage Fraudsters Finding Ways To Exploit Bubble Bust
It is hard to find a tragedy in the world that some heartless rat
can’t find a way to exploit and the current and growing incidence of
foreclosures doesn’t violate the rule.
“Recent statistics suggest
that escalating foreclosures provide
criminals with the opportunity to exploit and defraud
vulnerable homeowners seeking financial guidance.
Schumer Bill Would Lift GSE Portfolio Caps
Congress and the Administration may be headed for a clash on yet
another front - the size of Freddie Mac and
Fannie Mae’s owned portfolios.
On Monday Senator Charles Schumer (D-NY) introduced
legislation that would…
Popularity: unranked [?]
