Investors to buy IndyMac - $13.9B
The Federal Deposit Insurance Corp. announced Friday that it had struck a deal to sell failed mortgage lender IndyMac to a group of private investment firms for $13.9 billion.
Jack Guttentag: The Mortgage Professor
Q: Do borrowers have any say over the type of loan modification they get? What kind of modification should they look for?
Synovus sees quarterly loan loss provision of about $250 mln
SAN FRANCISCO (MarketWatch) — Synovus said late Friday it plans to increase its loan loss provision to about $250 million in the fourth quarter while its charge-off ratio is forecast at about 2.2%. The financial services holding company noted that its loan loss provision and charge-offs will remain at elevated levels due to current economic conditions. “The largest component of these elevated charges relates to Atlanta market residential real estate credits,” said Synovus in a statement. It is also assessing its goodwill for potential impairment during the fourth quarter. Synovus is scheduled to release fourth quarter earnings on Jan. 22.
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Pretending to be in Distress?
My family as well as several other families in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has…
U.S. puts up $6 billion to support auto lender GMAC
WASHINGTON (Reuters) - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion.
Mortgage rates fall to third straight record low
WASHINGTON — Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring.
Pretending to be in Distress?
My family as well as several other families in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has…
Can You Get a Loan?
The short answer is yes. But you need a sterling credit history to get the best rate.
Top 5 home-buying blunders for 2009
Housing prices are down, and mortgage rates are low. Still, experts advise that potential buyers exercise caution before venturing into this real-estate market.
Fannie Talking to FDIC About IndyMac Mortgage Buyback
Fannie Mae is in talks with the Federal Deposit Insurance Corp. and IndyMac Bank to force the failed lender to buy back certain mortgages.
Mortgage application volumes hold steady as rates drop: MBA
The volume of residential mortgage applications filed last week shows little change from the prior week, evan as the interest rates charged on mortgages fall further, data compiled by the Mortgage Bankers Association show.
Equities rally on GMAC lifeline
EQUITIES FUTURES RALLY MOST IN A WEEK AS TREASURY THROWS GMAC A $6 BILLION LIFELINE TO SUPPORT LENDING. US equities decided to let the “Times Square Ball” drop early by staging their largest rally in nearly two weeks after the US government announced a new support plan for the struggling finance arm of General Motors (GMAC). The plan will consisted of a $5 billion direct purchase of GMAC and a $1 billion loan to General Motors to assist in the restructuring of the near frozen financing &
Troubled Mortgages Jump For Fannie In October
A monthly report from the government-supported mortgage finance firm said that delinquency rates rose to 1.89% in October, from 1.72%.
Firms Charge Thousands To Modify Mortgages
A growing industry has emerged to take advantage of the unprecedented wave of foreclosures, charging distressed homeowners for help negotiating better loan terms — a service provided for free or for a nominal fee by many nonprofits.
Grabbing a Loan Lifeline In Sea of Choices
For homeowners in trouble with their mortgage, navigating the myriad programs and groups offering help can be taxing. When is the right time to ask for help? Who should you turn to?
The ECB under pressure after weak sales and job losses
The European Central Bank will begin the New Year under pressure to keep cutting interest rates after retail sales and loans to households and companies grew at the slowest pace in four years. Retailers reported sales, jobs and profit margins all contracted this month as the deepening recession curbed consumer confidence and spending. “The ECB will have to go further,” said Gilles Moec, an economist at Bank of America Corp. in London and a former Bank of France official. The euro region faces
How to Repay Student Loans
Too much debt? Too little income? Find a game plan that works for you.
