Countrywide Financial is the nation’s largest mortgage lender. As of Friday, Countrywide was telling brokers to stop offering the option of no-money down.
“Please get in any deals over 95 LTV (loan-to-value) today!” Countrywide said late on Friday in an urgent e-mail to brokers. “Countrywide BC will no longer be offering any 100 LTV products as [...]
Yesterday the FBI and the Mortgage Bankers Association reached an agreement to fight mortgage fraud together. The new effort is designed to educate consumers and mortgage lenders about the penalties and possible prison terms associated with mortgage fraud.
The FBI’s Mortgage Fraud Warning Notice states that it is a federal crime for any person to make [...]
The 2007 Saint Patrick’s Day Parade will take place on Saturday morning March 17th. This will be the 183rd edition of the parade. This parade has attained the distinction of being one of the top 20 special events in the Southeastern United States. It has also been named the second largest Saint Patrick’s Day Parade [...]
Our new Fed Chief and our old Fed Chief were both making headlines today. I use the term “old” in reference to his status as the former Fed Chairman and not based on the fact that Mr. Greenspan turned 81 today - congratulations. Before his birthday party, the former central banker told Bloomberg news agency [...]
Mortgage Fraud is real and rampant in the United States according to the FBI. The Federal Trade Commission estimates that mortgage fraud has cost businesses nearly $48 billion and consumers about $5 billion in the past 5 years. There are some cases that involve appraisers, lenders, attorneys, and real estate agents. While other scams can [...]
Our new Fed Chief and our old Fed Chief were both making headlines today. I use the term “old” in reference to his status as the former Fed Chairman and not based on the fact that Mr. Greenspan turned 81 today - congratulations. Before his birthday party, the former central banker told Bloomberg news agency [...]
Downtown is growing along the river. Site clearing is under way for the $800 million mixed-use project that will extend the area’s commercial and residential footprint. You sometimes hear horror stories about new developments these days. Take a few minutes and look over the new website and see how much passion is going in the [...]
I will re-read this post twice before I publish it so I make sure I do not sound like a market cheerleader. Instead of saying the mortgage market is “fantastic”, let’s look at why it is so “great” right now.
The Fed worries that a strong economy can lead to inflation, which is enemy #1 against [...]
The big sell-off today accomplished a very important thing today. It got investors to take a serious look at their positions and why they carry them. We may see further selling pressure tomorrow or the markets may find a bottom mid-day. Who knows for sure. Trying to call a bottom is pointless. You would be [...]
On Saturday, there was a Housing Fair held at the new EOA building at 1120 May Street. There were enough doughnuts and coffee on hand to wake even the best of them. From 9am till noon, Quennie Parker (912) 238-2690 led short classes on how to become a homeowner. With a focus on education to [...]
