tag:blogger.com,1999:blog-71407230614045363172023-10-20T07:51:46.825-07:00Mortgage news<center>News, trends and analysis of the mortgage and credit market</center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.comBlogger280125tag:blogger.com,1999:blog-7140723061404536317.post-81636221204295111272008-11-24T19:02:00.000-08:002008-11-24T19:04:33.360-08:00US Government Bails Out Citigroup, once the largest U.S. bank<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Nov 24 2008 Best-Mortgage-Companies.com </strong><br />Officials agreed to a $326 billion rescue of the company that was once the largest U.S. <a href="http://www.best-mortgage-companies.com">bank</a>. The government intends to invest $20 billion in Citigroup and to guarantee as much as $306 billion of its troubled assets. The deal will make the government the largest Citigroup shareholder with 7.8% of its shares.<br /><br />The deal marks the latest of several government moves to buy direct investment in banks in order to bolster their balance sheets and restore confidence in the entire U.S. banking system. </td><br /><td style="text-align:center"> <a href="http://www.best-mortgage-companies.com"><br /><img alt="mortgage" border="0" src="http://www.best-mortgage-companies.com/about.jpg" width="120" height="30" ><br /></a><br /> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Top Mortgage Companies & Banks</strong></a></span></center><br /><center><a class="footerLink" href="http://www.best-mortgage-companies.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com3tag:blogger.com,1999:blog-7140723061404536317.post-72770193708358991302008-11-17T09:07:00.000-08:002008-11-17T09:09:28.652-08:00Giant bank to axe thousands of jobs<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Nov 17 2008 Best-Mortgage-Companies.com </strong><br /><br />J.P. Morgan is planning to cut thousands of jobs across its worldwide operations. So is Citigroup, which is having a meeting this morning to pare about 10% of its workforce.<br /><br />Lay-offs in the financial industry are not only happening in the United States but also across Europe. <br /><br />Definitely, the US recession is spreading to the world. </td><br /><td style="text-align:center"> <a href="http://www.best-mortgage-companies.com"><br /><img alt="mortgage" border="0" src="http://www.best-mortgage-companies.com/about.jpg" width="120" height="30" ><br /></a><br /> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Top Mortgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://www.best-mortgage-companies.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com1tag:blogger.com,1999:blog-7140723061404536317.post-36080236672780774022008-11-10T18:04:00.000-08:002008-11-10T18:25:11.716-08:00Citigroup Offers Relief To Mortgage Borrowers<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Nov 10 2008 Best-Mortgage-Companies.com </strong><br />Citigroup Inc. plans to modify loan terms for <a href="http://www.best-mortgage-companies.com">mortgage</a> borrowers who are current on their loan payments but at risk of being delinquent. This aggressive move targets mortgages worth as much as $20 billion. The plan will not only help ailing homeowners, but it will also help the company reduce loan losses. </td><br /><td style="text-align:center"> <a href="http://www.best-mortgage-companies.com"><br /><img alt="mortgage" border="0" src="http://www.best-mortgage-companies.com/about.jpg" width="120" height="30" ><br /></a><br /> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Top Mortgage Companies in the United States</strong></a></span></center><br /><center><a class="footerLink" href="http://www.best-mortgage-companies.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-42395642115179193022008-11-03T10:41:00.000-08:002008-11-03T10:44:23.991-08:00Citigroup loses $1.4 Billion in Credit Cards<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Nov 3 2008 Best-Mortgage-Companies.com </strong><br /><br />Citigroup declared it lost $1.4 billion in the third quarter from credit card backed securities. The company said it expects losses to rise next year.<br /> <br />Citi also said it added $3.9 billion to overall credit reserves, including $2.3 billion for its North American consumer business and $855 million non-US business. <br /><br />Citi said the additional reserve to the North American section was mostly due to the weakening of the credit markets, including higher delinquencies on first <a href="http://www.best-mortgage-companies.com">mortgages</a>, unsecured personal loans, credit cards and auto <a href="http://www.best-mortgage-companies.com">loans</a>.<br /> <br />The credit card industry is in turmoil. American Express, a credit card giant, announced last week plans to slash 7,000 jobs. </td><br /><td style="text-align:center"> <a href="http://www.best-mortgage-companies.com"><br /><img alt="mortgage" border="0" src="http://www.best-mortgage-companies.com/about.jpg" width="120" height="30" ><br /></a><br /> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://www.best-mortgage-companies.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-33172152219583263522008-10-27T23:38:00.000-07:002008-10-27T23:41:24.505-07:00Feds To Bail Out 2 Dozen Banks<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>OCt 27, 2008 Best-Mortgage-Companies.com </strong><br />Sources said Monday October 27, 2008 that FED’s regulators have decided to help a dozen banks with capital from the government. But the companies' names were not released in order to avoid creating winners and losers in the financial market , for the latter could have faced negative sentiments from customers, counterparties and investors.<br /><br />The bailout was evidenced by PNC receiving $7.7 billion in federal funds, which allowed the company to buy ailing National City Bank. Alabama-based Regions Financial said earlier this week that the government had accepted its application to be part of the program.<br /> <br />An initial $125 billion was allocated to nine of the largest <a href="http://www.best-mortgage-companies.com">US banks</a>, including Citigroup, JP Morgan Chase and Bank of America.<br /> </td><br /><td style="text-align:center"> <a href="http://www.best-mortgage-companies.com"><br /><img alt="mortgage" border="0" src="http://www.best-mortgage-companies.com/about.jpg" width="120" height="30" ><br /></a><br /> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://www.best-mortgage-companies.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-72274353556493413962008-10-27T10:09:00.000-07:002008-10-27T10:13:02.667-07:00PNC to acquire struggling bank<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 27, 2008 Best-Mortgage-Companies.com </strong><br />In a deal worth about $5.6 billion, Pittsburgh-based PNC will acquire ailing <a href="http://www.best-mortgage-companies.com">bank</a> National City. The sale, which values National City at $2.23 per share, would create the nation's fifth-largest <a href="http://www.best-mortgage-companies.com">US bank</a> with $180 billion in deposits. PNC is exchanging $5.2 billion in stock and paying an additional $384 million in cash for National City. </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Top US Banks & Mortgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-54182422749512755782008-10-23T03:49:00.000-07:002008-10-23T03:52:49.693-07:00New technologies to make your home smarter<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 22 2008 Best-Mortgage-Companies.com </strong><br />Wired-home technology is getting more affordable for the average homeowner. Some of the first home automation systems were priced at $35,000 to $45,000. Today, similar systems cost as low as $2,500.<br /><br />More and more technology can be woven into our homes. To get most of these home innovations, all your computers and electronics will be networked. <br /><br />With a digitally networked <a href="http://www.best-mortgage-companies.com">home</a>, you can manage your music and movie files on a media server so they can be heard or watched in any connected room. You can control your lights, your thermostat and even your window blinds with a touch of a button. Movies can be downloaded from the Internet and watched immediately on your big-screen televisions. </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Get A Home Loan Today</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-84696561546107575842008-10-19T19:59:00.000-07:002008-10-19T20:02:39.586-07:00Rates ease but credit still freezes<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 19 2008 Best-Mortgage-Companies.com </strong><br />Bank-to-bank lending <a href="http://www.best-mortgage-companies.com">rates</a> went lower last Friday and demand for Treasury bills let up slightly, but there are signs companies that need credit most might not be able to obtain it.<br /><br />Corporate bonds are being issued at the slowest pace in a decade, and it's been three weeks since a high-yield corporate bond has been issued.<br /><br />This drought is partially due to companies sitting on the sidelines, waiting for conditions to improve. But it's also because there are not enough buyers. This is a problem, because when <a href="http://www.best-mortgage-companies.com">companies</a> can't get funding from the markets, they have to draw down their credit facilities with their <a href="http://www.best-mortgage-companies.com">banks</a> -- which often forces banks to jack up their rates.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-83102726429553235562008-10-12T19:40:00.000-07:002008-10-12T19:41:50.526-07:00WIll Your Bank Weather The Storm?<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 12, 2008 Best-Mortgage-Companies.com </strong><br />Use these THREE measures to find out:<br /><ul><strong></strong><br><br /><br /><li><strong>Risk-based capital ratio</strong><br><br />The FDIC mandates that a bank's risk-based capital be no less than 6% of its total assets. You'd like a little more cushion than that--perhaps 8%. To find this ratio in the call report, turn to the Regulatory Capital section, called Schedule RC-R, and look for the line item "Total risk-based capital ratio."<br /><br /></li><br /><br /><li><strong>Loan-to-deposit ratio </strong><br><br />The larger that percentage, the greater the risk the bank has taken on. If customers begin to pull deposits, the bank might be suddenly strapped for cash.<br />It should be between 95% to 105%. To find this measure, divide "loans and leases, net of unearned income and allowance" (item 4.d. in Schedule RC-Balance Sheet) by "deposits" (item 13 in the same Schedule). <br /><br /></li><br /><br /><li><strong>Amount of non-current loans (those 30 days or more past due) vs. total amount lent.</strong><br><br />To calculate your bank's percentage, divide the total dollar amount of loans that are 30 days or more past due (found in Schedule RC-N) by total loans and leases (again, item 4.d. in Schedule RC-Balance Sheet).<br /><br /></li><br />If your bank is struggling and the FDIC takes it over, know that you may not have access to your funds for several days during the change-over period. To be safe, small-business owners should have a week's worth of operating expenses deposited at another institution.<br /></ul> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-77211970132319176062008-10-11T04:49:00.000-07:002008-10-11T04:52:15.595-07:00Two more banks collapse<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 10, 2008 Best-Mortgage-Companies.com </strong><br />Main Street Bank of Northville, Michigan and Meridian Bank of Eldred, Illinois became the latest victims of the ongoing financial crisis as their deposits were transferred respectively by the Federal Deposit Insurance Corp to Monroe Bank & Trust and National Bank yesterday October 10, 2008. </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Mortgage Rates Increase Sharply</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-86705428129163372492008-10-09T00:56:00.000-07:002008-10-09T01:00:09.584-07:00Bank of America, Citigroup and JP Morgan Chase to Raise Fees<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Oct 09, 2008 Best-Mortgage-Companies.com </strong><br /><br />The sale of Wachovia's banking operations and other assets to Citigroup on Monday leaves the nation with three only megabanks to set the rules: Bank of America, Citigroup and JP Morgan Chase <br /><br />For customers of those institutions , the consolidation may result in higher fees on everything from checking accounts to bounced checks and overdrafts, and lower interest-rate yields on deposit accounts, banking experts said.<br /><br />Loan availability also remains in question , as liquidity won’t return to mortgage-backed securities in the near term after the bailout plan passed through Congress.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>List of Mortgage Banks That Have Collapsed</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-61472340129359503802008-10-08T01:49:00.000-07:002008-10-08T01:54:00.160-07:00Citigroup acquires Wachovia's banking operations<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>October 7, 2008 Best-Mortgage-Companies.com </strong><br />Federal Deposit Insurance Corporation confirmed on September 29 2008 that Citigroup Inc. will acquire the banking operations of Wachovia Corporation; Charlotte, North Carolina.<br /><br />The transaction was facilitated by the Federal Deposit Insurance Corporation and concurred with by the Board of Governors of the Federal Reserve and the Secretary of the Treasury in consultation with the President. All depositors are fully protected .There will be no interruption in services and bank customers should expect business as usual, said FDIC Chairman Sheila C. Bair. <br /><br />Citigroup Inc. will acquire the bulk of Wachovia's assets and liabilities, including five depository institutions and assume senior and subordinated debt of Wachovia Corp. Wachovia Corporation will continue to own Wachovia Securities, AG Edwards and Evergreen. The FDIC has entered into a loss sharing arrangement on a pre-identified pool of loans. Under the agreement, Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC will absorb losses beyond that. Citigroup has granted the FDIC $12 billion in preferred stock and warrants to compensate the FDIC for bearing this risk. </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>List of Mortgage Companies that Have Failed</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-90291887274893717852008-10-06T13:18:00.000-07:002008-10-06T13:19:02.108-07:00Fed injects more billion into banks<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong> </strong><br />The Federal Reserve announced on October 6, 2008 that it will increase by hundreds of billions of dollars the money it makes available to the nation's banks.<br /><br />As the crisis in financial markets has become very acute, the Government is trying to provide all the liquidity that is needed so that banks don't become insolvent .<br /><br />The Fed will allow banks to bid in an auction for the rate they're willing to pay to borrow the funds, and it will accept a much wider range of collateral for the loans than in other forms of lending by the central bank.<br /><br /><br />The Fed also announced it would pay banks interest on their reserve holdings. This would allow the central bank to have control over the fed funds rate, its key overnight lending rate target.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-44917655467764909482008-09-23T16:43:00.000-07:002008-09-23T16:45:55.030-07:00$19 billion in mortgage loan losses for WaMu<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Tuesday Sept 23, 2008 Best-Mortgage-Companies.com </strong><br />Investors turned nervous again on Monday, Sept. 22, when they pushed WaMu shares down 20%, to $3. The bank’s stocks got hit on fears that President George W. Bush's $700 billion bailout of troubled mortgage assets might not be a good thing for banks if they are forced to recognize even larger losses on their mortgage holdings.<br /><br />The bank is anticipating $19 billion in mortgage losses during this crisis. Analysts say the losses could go as high as $28 billion. The uncertain company’s future continues to put a strain on the bank's customers, who are moving their deposits to other banks just to be safe. Its deposits from retail customers were down nearly $6 billion from last year by the end of June, even as the bank offered attractive rates to lure deposits.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Best Rated Mirtgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-61120257680692094282008-09-18T05:14:00.001-07:002008-09-18T05:53:42.874-07:00Lehman Brothers' Failure Pushes Central Banks To Inject Money Into The Credit Markets<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Thu Sept 18, 2008 Best-Mortgage-Companies.com </strong><br />Lehman Brothers, which used to be an innovator in global finance and served the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide, has failed. Its headquarters are in New York, with regional offices in London and Tokyo. Founded in 1850, Lehman Brothers had maintained leadership in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. <br /><br />Inter-bank lending ground to a virtual halt as banks grew increasingly wary of lending to each other after the investment bank failed. <br /><br />The news pushed central banks to boost liquidity. The world's biggest central banks moved Thursday to inject massive amounts of liquidity into the financial system in a bid to alleviate extreme distress caused by the collapse in short-term. The Fed provided additional $180 billion for short-term dollar auctions.<br /><br />Lehman's bankruptcy is the largest failure of an investment bank since Drexel Burnham Lambert collapsed amid fraud allegations 18 years ago.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-46051396897219752052008-09-18T05:14:00.000-07:002008-09-18T06:09:05.115-07:00Troubled Mortgage Company Up For Auction<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Thu Sept 18, 2008 Best-Mortgage-Companies.com </strong><br />Washington Mutual, the nation's largest thrift, has put itself up for sale, the New York Times reported on Wednesday Sept 17, 2008. Goldman Sachs, which was been hired to advise the troubled mortgage company, started the auction several days ago. Potential buyers include Citigroup, HSBC, JP Morgan Chase and wells Fargo, said the New York Times. Washington Mutual’ s shares fell 13% to $2.01. The stock rallied 11% to $2.23 during after-hours action.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/index_submenu_new.html#videos"><strong>More News In Our Mortgage Videos</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-4317553237558989382008-09-14T00:14:00.000-07:002008-09-14T00:15:38.300-07:00Reviewing Mortgage Backed Securities’ policies<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Sept 13,2008 Best-Mortgage-Companies.com </strong><br />Freddie Mac and Fannie Mae bailout by the Government accomplished one part of the hoped-for effect: longer term mortgage rates plunged to levels not seen for months.<br /><br />At the same time four U.S. Senators proposed a freeze of foreclosures on mortgages held by the companies for 90 days and immediate action to assist homeowners by modifying delinquent loans.<br /><br />Even though Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have encouraged lenders and loan servicers to facilitate such modifications neither Freddie nor Fannie have gone as far as many private lenders in doing so.<br /><br />A foreclosed mortgage usually pays the lender $0.30 on the dollar but a mortgage that is modified so as to be affordable for the borrower pays nearly $0.90.<br /><br />The Senators asked that the GSEs review their policies governing loans involving Mortgage Backed Securities in order to keep families in their homes and maximize the value of these assets. The proposed changes would also reduce risks to taxpayers and alleviate the downward pressure on house prices.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-38250916918899390472008-09-03T07:24:00.000-07:002008-09-03T07:27:39.693-07:00Beyond the subprime mortgage crisis: Alt-A loans<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>Sept 03 08 Best-Mortgage-Companies.com </strong><br />Alt-A mortgages were designed for people with good credit who could not document their income — people like the self-employed. Not as risky as subprime loans but not quite prime either, Alt-As are part of what’s causing trouble for Fannie Mae and Freddie Mac. About half of their combined $3.1 billion loss in the second quarter came from bad Alt-A loans.Part of the problem is that many of these loans, like the riskier subprime mortgages, went to people who never should have gotten them. Not self-employed, maybe not employed at all. <br /><br />Now there are worries that Alt-A loans may cause another wave of defaults beyond the subprime mortgage crisis. Entrepreneurs who took out Alt-A mortgages may be hit when their rates reset -- jeopardizing their homes while the ailing economy is killing their businesses. Also, small business owners with good credit may not be able to get Alt-A loans because many people abused them by lying about their income and banks get nervous about lending to people who have trouble documenting their income.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/how_to_shop_for_a_mortgage_4.html"><strong>Which Mortgage Is Best Depending On Your Situation</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-83782619210505096282008-08-23T13:41:00.000-07:002008-08-23T13:42:36.646-07:00Mortgage forbearance vs. forgiveness<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>August 23 2008 Best-Mortgage-Companies.com </strong><br />Mortgage rates are skyrocketing. Some homeowners with adjustable rate mortgages who are three months to a year behind on their mortgage have chosen to leave their homes altogether. <br /><br />But leaving a property to the mortgage-holder or other interested parties carries a serious credit risk and significant legal responsibility. It is a good idea to call the lender even if it’s the person you may least want to talk to. You may also contact either an FHA-sponsored or independent loan counselor to help you negotiate with your lender. Acting this way can help you reach a forbearance agreement with your lender. This agreement reduces or suspends the mortgage payment for a limited time, giving homeowners a temporary reprieve. <br /><br />Ultimately the mortgage payments have to be reinstated, and anywhere from three to six months of missed payments have to be accounted for. Of course! Because a forbearance is not the same as loan forgiveness. Most lenders offer specialized payment plans in which the borrower agrees to add a portion of the missed payments to the mortgage until the account is current. You could also be eligible for a partial claim, a one-time interest-free loan that will allow you to bring your account current. <br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com34tag:blogger.com,1999:blog-7140723061404536317.post-3917608781396197672008-08-18T11:11:00.000-07:002008-08-18T11:18:31.406-07:00Wachovia reaches settlement about bad securities it sold<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>August 18 2008 Best-Mortgage-Companies.com </strong><br />Investors who bought auction rate securities through Wachovia Securities LLC and Wachovia Capital Markets LLC. will return the securities to Wachovia for roughly $9 billion under a preliminary settlement.<br />Government regulators have been investigating alleged misrepresentations made by Wachovia to thousands of its customers about the liquidity risk associated with auction-rate securities. The settlement will bring real relief to tens of thousands of unsuspecting investors who were not given the forthright information they needed in the process of purchasing auction-rate securities. These investors will now get their money back.<br />But there speculations that some investors may be left out of auction rate settlement. <br /><br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Best Mortgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-85140164831980710072008-08-03T15:47:00.000-07:002008-08-03T15:49:10.165-07:00Citigroup under fraud probe<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>August 03 2008 Best-Mortgage-Companies.com </strong><br />New York state Attorney General Friday August 01, 2008 that his office intends to file charges against Citigroup for alleged fraudulent marketing and sale of troubled auction-rate securities to unsuspecting investors.<br />The nation's largest bank may have repeatedly and persistently committed fraud by material misrepresentations and omissions in the underwriting, distribution and sale of auction rate securities, touting them as safe investments.<br />The Attorney General also claimed that Citigroup destroyed recordings of telephone conversations related to the marketing and sale of auction-rate securities. <br />Auction-rate securities are long-term bonds that hospitals, cities and corporations sell at weekly or monthly auctions, which many investors, until now, had treated like cash investments. The market for these investments is worth about $330 billion.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Best Rated Mortgage Companies </strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-90802045704237427042008-07-26T20:32:00.000-07:002008-07-26T20:38:05.263-07:00Senate passes crucial bill to help mortgage borrowers<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>July 26, 2008 Best-Mortgage-Companies.com </strong><br />On Saturday July 26, 2008 the Senate overwhelmingly passed a landmark housing bill that will offer up to $300 billion in loans for troubled homeowners and establish a government rescue plan for mortgage giants Fannie Mae and Freddie Mac.<br /><br />The bill has two principal objectives: to offer affordable government-backed mortgages to homeowners at risk of foreclosure, and to bolster Fannie and Freddie with a temporary rescue plan and a new, more stringent regulator.<br /><li>Establish a stronger regulator for the GSEs</li><br /><li>Permanently increase "conforming loan" limits to a maximum of $625,500 from $417,000. </li><br /><li>Create home-buyer credit: a tax refund for first-time home buyers worth up to 10% of a home's purchase price but no more than $7,500.</li><br /><li>Bar down-payment assistance for FHA loans</li><br /><li>Create an affordable housing trust fund: a permanent fund to promote affordable housing. </li><br /><li>Give grants to states to buy foreclosed properties: grant up to $4 billion to states to buy and rehabilitate foreclosed properties.</li><br /></td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Best Rated Mortgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-54238921287917554402008-07-26T20:12:00.000-07:002008-07-26T20:15:05.728-07:00Two more american banks close<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>July 26 2008 Best-Mortgage-Companies.com </strong><br />1st National Bank of Nevada and First Heritage Bank N.A. were closed Friday July 25, 2008 by federal regulators. Customers were assured that every penny of their money was protected, preventing lines of angry accountholders from forming Saturday. Mutual of Omaha Bank bought all of the two banks' deposits, even those over the amount protected by FDIC insurance limits.<br /><br />Insurance limits are typically $100,000, but some accounts, such as joint accounts, can have more money protected.<br /><br />The Office of the Comptroller of the Currency said that 1st National was undercapitalized and had experienced substantial dissipation of assets and earnings due to unsafe and unsound practices. First Heritage was critically undercapitalized and was likely to incur losses that would deplete all or nearly all of its capital.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/banks_closed.html"><strong>List of Banks That Have Closed</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-6565205921787124572008-07-13T21:46:00.000-07:002008-07-13T21:48:51.272-07:00IndyMac, largest lender of alt-A loans, collapses<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>July 13 2008 Best-Mortgage-Companies.com </strong><br />On Friday July 11, the Office of Thrift Supervision transferred control of IndyMac to the Federal Deposit Insurance Corp. because it did not think the lender could meet its depositors' demands.<br />IndyMac is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said after taking control of the bank.<br />As of March 31, IndyMac had $19.06 billion in total deposits.<br />During the housing boom earlier in the decade, IndyMac was one of the largest lenders of alt-A loans — mortgages given to customers with minor credit trouble or that did not have the proper documentation to receive a traditional, prime loan.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>See Today's Mortgage Rates</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0tag:blogger.com,1999:blog-7140723061404536317.post-75599038371031257612008-07-13T21:39:00.000-07:002008-07-13T21:42:30.378-07:00Fed To Bail Out 2 Mortgage Giants?<div style="height: 20px; padding: 0; border-width: 0; border-color: #000000; border-style: solid; background-color: #000066;"></div><br /><table width="auto" cellspacing="20px"><br /><tr><td type="text" style="text-align:justify;"> <strong>July 10 2008 Money.CNN.com </strong><br />The anxiety over Fannie Mae and Freddie Mac, crucial to a recovery of the battered housing market and the economy as a whole, took stocks on a wild ride Friday.<br />An early sell off was fanned by speculation of looming bailout. The stocks recovered on assurances by a leading senator that no rescue is needed.<br />Immediately after the markets opened, shares of Fannie and Freddie fell more than 47% from their already battered closing price the day before. They soon rebounded later in the morning but Fannie shares were still down about 24% and Freddie shares were off 22% in early afternoon trading. The shares of both companies recovered most of their losses shortly after 2 p.m. when Sen. Christopher Dodd, D-Conn., the chairman of the Senate Banking Committee, defended the strength of both firms.<br />Dodd said that his discussions with Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson, the regulators who oversee the firms and the two companies' CEOs convinced him they have more than adequate capital and that there was no need to even discuss failure or a bailout.<br /> </td><br /><td> <a style="font-size:11px;color:navy;font-family:verdana;background-color:DCE2DA; border-style:solid;border-color:#8b2; border-width:1; padding:2;width:20;height:25;" href="http://best-mortgage-companies.com"><center><strong> Read <br> more </strong></center></a> </td></tr></table><br /><center><span style="background-color:EAF0ED;text-decoration:none;text-align:center;height:20;width:543;padding:10;"><a href="http://www.best-mortgage-companies.com/"><strong>Best Rated Mortgage Companies</strong></a></span></center><br /><center><a class="footerLink" href="http://mortgage00.homestead.com/~site/Scripts_ElementMailer/elementMailer.dll?CMD=CMDTellAFriend&PageURL=http://www.best-mortgage-companies.com/&HomesteadBase=www.homestead.com ">Email this article to a friend</a> | <a href="http://www.best-mortgage-companies.com/subscribe.html">Subscribe to our Mortgage News</a></center>Mortgage Manhttp://www.blogger.com/profile/11545967970600105629noreply@blogger.com0