The cost of home loans fell to a record low for a sixth week in a row, according to Freddie Mac’s weekly survey of interest rates.
The rate for a 30-year fixed-rate loan with an average 0.7 point was 4.54% for this week, the lowest interest rate in records dating back three decades, the survey showed.
Rates [...]
Mortgage rates hit 6th low in a row is a post from: Mortgage Insider
After 2 years in bankruptcy court, onetime subprime lender Fremont General has been reorganized and emerges as Signature Group Holdings LLC, which reorganized the company.
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Signature put out a news release today saying a judge confirmed its plan for Fremont. The new company will move from residential lending to commercial credit and other investments.
Signature’s statement:
“The turnaround ends a bankruptcy case [...]
Former subprime lender exits bankruptcy is a post from: Mortgage Insider
Washington Mutual made home loans it knew would tank while top executives were rewarded for high-risk lending and lax controls, according to internal WaMu documents released by a Senate panel.
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The Senate Permanent Subcommittee on Investigations found that in addition to the high-risk strategy, WaMu’s lending practices were fraudulent and led borrowers to take out loans they couldn’t sustain.
The panel [...]
Senate panel: WaMu knew loans were fraud is a post from: Mortgage Insider
How will the mortgage-backed securities market function now that the Federal Reserve has ended its program to buy more than $1 trillion in securities?
The world’s biggest bond fund, Newport Beach-based Pacific Investment Management Co., says investors will keep mortgage rates down.
Here are excerpts of a Q & A on the PIMCO site with Scott Simon, managing director and head [...]
PIMCO: Fed’s retreat won’t spike mortgage rates is a post from: Mortgage Insider
