Guaranty Mortgage

A group has announced the acquisition of All Fund Mortgage. Terms of the transaction weren’t released. The deal was completed on March 1, according to the announcement.

Fannie Vs. Auditor
Fannie Mae filed a lawsuit last year against its former auditor, Kpmg. But in its answer to the complaint, the auditor says Fannie committed fraudulent and negligent misrepresentation and fraudulent inducement when providing information for its audits. Kpmg also makes 37 affirmative defenses in its answer to Fannie’s suit.

A group of friends in San Francisco wanted to reduce waste. They got more than they bargained for.

Housing Recovery May Be Held Back By Oversupply
Will the economy return the favor? Spring usually provides the strongest home selling period of the year and with interest rates still relatively low and the job market improving the forecast sees conditions “ripe for a firming in housing demand,” but acknowledges that there are still problems. Read More Now

Deducting student loan interest
Interest you’re paying on a loan to help attend university could also help cut your tax bill.

Groups Call For Forbearance For Troubled Mortgages
A coalition of housing activists and civil rights groups has called for a six month moratorium on foreclosures to provide time for financially troubled homeowners with time to solve their problems. Read More Now

Home sales cratered
Home resales plummeted 13 percent in March, compared to the previous March, according to the National Association of Realtors (NAR).

Where’s the beef?
Ethanol production is making other crops more expensive, as well as boosting the price of cattle feed and therefore beef.

Senate Moves To Assist Homeowners On Two Fronts
The Senate Banking Committee and one of its subcommittees dealt this week, however superficially, with two issues that should be of interest to a lot of homeowners. Hopefully these won’t be problems that they have just teed up and then punted into obscurity. Both are worthy of discussion if not action. Read More Now

Growth down, inflation up
We have an economy that’s slowing down, accompanied by an inflation rate that’s rising. Let’s hope the days of stagflation have not returned.

Builders appeared to have remained cautious about the housing market in March, pulling permits and starting construction on new houses in numbers little changed from February. The monthly data on new residential construction jointly released by the U.S. Census Bureau and the Department of Housing and Urban Development on Tuesday reported that… Read More Now

A group of friends in San Francisco wanted to reduce waste. They got more than they bargained for.

Sweat the small (and big) stuff
Consumers make decisions every day that can make a big difference in the long run on how much they can save.

A group of friends in San Francisco wanted to reduce waste. They got more than they bargained for.

Senate Moves To Assist Homeowners On Two Fronts
The Senate Banking Committee and one of its subcommittees dealt this week, however superficially, with two issues that should be of interest to a lot of homeowners. Hopefully these won’t be problems that they have just teed up and then punted into obscurity. Both are worthy of discussion if not action. Read More Now

Mortgage Rates Remain Quiet
In a statement accompanying the release of Freddie Mac’s Primary Mortgage Market Survey for the week ended April 5, Frank Nothaft, Freddie Mac vice president and chief economist remarked, “Mortgage rates have remained within a narrow band of 0.1 percentage points over every week in March. This relative stability is due to mixed economic data releases as to how strong the economy is and whether future inflation will recede. One bright spot this week came from an unexpected increase in pending home sales for February, which suggests the housing market is still healthy.” Read More Now

Banking and Housing Giants Testify About Subprime Solutions
The chief executives of both Freddie Mac and Fannie Mae as well as the Chairman of the Federal Deposit Insurance Corporation and the Federal Housing Commissioner and Assistant Secretary of the Department of Housing and Urban Development testified last week in a hearing before the U.S. House Committee on Financial Services about solutions to the current subprime mortgage turmoil. Each of the four had some interesting things to say about what their organizations/agencies are doing or could be doing to resolve the situation and… Read More Now

Picking a secured credit card
Make sure the company reports your payment history, says Dr. Don.

Groups Call For Forbearance For Troubled Mortgages
A coalition of housing activists and civil rights groups has called for a six month moratorium on foreclosures to provide time for financially troubled homeowners with time to solve their problems. Read More Now

Sweat the small (and big) stuff
Consumers make decisions every day that can make a big difference in the long run on how much they can save.

Collectors call: Ex-wife’s secret credit card
Give the collectors a demand of your own: Send the paperwork proving it’s a joint account, says the Bankruptcy Adviser.

Job Report Fuels Mortgage Rate Increases Across The Board
Mortgage rates bumped upward last week, buoyed largely by encouraging news about job growth. However, at the same time the fees and points charged for originating these mortgages declined for three of the four products tracked by the report. Read More Now

Housing Recovery May Be Held Back By Oversupply
Will the economy return the favor? Spring usually provides the strongest home selling period of the year and with interest rates still relatively low and the job market improving the forecast sees conditions “ripe for a firming in housing demand,” but acknowledges that there are still problems. Read More Now

Washington, D C - Credit risk analysts recently told a Senate banking subcommittee that mortgage servicers are in the best position to stave off foreclosures. The servicers can offer borrowers loan modifications, forbearance agreements, extending amortization terms, adding balloon payments or restructuring or decreasing mortgage interest rates, panelists said. But some structured finance transactions have provisions that limit a servicer’s ability to restructure the mortgage loans to a certain percentage of the loans, one panelist said.

Don’t bet the farm on future value of collectible cars
Only very rare and desirable cars are likely to be big ticket items a few decades from now, and they’re almost impossible to predict, says Bankrate car expert Terry Jackson.

Outlook Determines Success
Mortgagedaily.com reviewed the book, Little Gold Book of Yes! Attitude, How to Find, Build, and Keep a Yes! Attitude for a Lifetime of Success. The book redefines what a positive mental attitude should be. Maintaining a positive attitude takes practice but it can become a learned behavior, the author wrote.

After paying $30,000 over the sticker price for a new car a reader asks Bankrate car expert Terry Jackson why the dealer won’t buy the car back for the same price.

Don’t bet the farm on future value of collectible cars
Only very rare and desirable cars are likely to be big ticket items a few decades from now, and they’re almost impossible to predict, says Bankrate car expert Terry Jackson.

Senators Warn of Foreclosure Tsunami
A tsunami of foreclosures is rolling toward U S shores, according to a report from a U S Senate committee. One senator said the economic consequences from the subprime mortgage meltdown will ripple through communities. But the Mortgage Bankers Association said the report overstates the potential number of foreclosures.

Midwest Biggest Foreclosure Risk
First American Corelogic released its second quarter Core Mortgage Risk Monitor economic index. The report forecasts mortgage delinquency based on fraud propensity, collateral risk, home price dynamics and the health of the local economy, the report said. The ten markets most at risk of foreclosure because of mortgage fraud are all in the Midwest.

Wholesaler Cuts Outside Account Executives
Home Equity of America Inc. eliminated outside sales functions, a spokeswoman for its parent told Mortgagedaily.com. The move will reduce its staff by one-third, she said. The ongoing organization will concentrate on growing business through inside sales employees.

Money market account can replace CD
New product offers some advantages, but not as many as a money market account, says Dr. Don.

Deducting student loan interest
Interest you’re paying on a loan to help attend university could also help cut your tax bill.

Unplug your cable
Frugal $ense winner Courtney Heins invests the $60 a month she saves on TV and plays music and volunteers during her newfound free time.

Lead Rating Service Launched
A free mortgage lead rating ticker was launched by Kaleidico earlier this month. Lead companies must move at least 100 leads per week to be rated on the system, Kaleidico’s Ceo told Mortgagedaily.com. The founder of a competing service told Mortgagedaily.com any company which motivates lead generators to improve their quality would be beneficial to all parties.

Never hurts to ask for a refund
Frugal $ense winner Brenda Miller has no problem asking for a refund when prices drop below what she paid.

Frugal $ense winner Brenda Miller has no problem asking for a refund when prices drop below what she paid.

Groups Call For Forbearance For Troubled Mortgages
A coalition of housing activists and civil rights groups has called for a six month moratorium on foreclosures to provide time for financially troubled homeowners with time to solve their problems. Read More Now

Senate Moves To Assist Homeowners On Two Fronts
The Senate Banking Committee and one of its subcommittees dealt this week, however superficially, with two issues that should be of interest to a lot of homeowners. Hopefully these won’t be problems that they have just teed up and then punted into obscurity. Both are worthy of discussion if not action. Read More Now

HUD Report Cites Record High Rates Of Discrimination Complaints
April is Fair Housing Month and the Department of Housing and Urban Development (HUD) just released its Annual Report on Fair Housing. The 2006 Annual Report announces that HUD and the Fair Housing Assistance Program (FHAP) agencies received a record number of housing discrimination complaints during the year… Read More Now

Best time to buy anything
The retail world moves in cycles with low prices appearing at predictable intervals. Knowing when to buy helps score the best deal.

Wmc Mortgage made an internal announcement Thursday of a layoff action, a spokeswoman told Mortgagedaily.com. The move impacted 771 workers, she said. The company implemented an earlier round of layoffs in March.

Irvine Firm Done
Innovative Mortgage Capital has ceased operations, according to a message on its Web site Friday. Aside from a contact email address, no other information was given. Among loan programs promoted on a former product matrix were no income verification loans up to 100 percent loan to value on owner occupied properties.

The spread between 10-year Treasury yields and mortgage rates has been shrinking. I have no idea why but I do have a guess.

Congress: You’re powerless
There’s not much Congress can do to prevent an expected surge in foreclosures.

Never hurts to ask for a refund
Frugal $ense winner Brenda Miller has no problem asking for a refund when prices drop below what she paid.