Media Alert: Ray of Hope in Subprime Crisis; Leading Mortgage Loan Servicing Company Sees Delinquencies Flatten or ... (Centre Daily Times)
One of the nation's leading subprime mortgage servicers reports that delinquencies on the subprime mortgages it handles flattened or declined this summer, in large measure due to its technology-enhanced loan modification program.
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Fitch Takes Action on 1 Citigroup Mortgage Loan Trust Resecuritization Transaction (Business Wire via Yahoo! Finance)
NEW YORK----Fitch Ratings has taken the following actions on Citigroup Mortgage Loan Trust certificates. The classes represent a beneficial ownership interest in separate trust funds, which include bonds that have been affirmed and remain on or have been removed from Rating Watch Negative.
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Home loan troubles break record again (Seattle Times)
A record 9 percent of U.S. homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June. Washington state's troubled-loan rates remain low, although there are modest signs they are growing.
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Rangel Says He Didn't Know of Loan Terms (Washington Post)
Rep. Charles B. Rangel (D-N.Y.) did not know that the Caribbean resort villa he purchased 20 years ago was financed with a no-interest mortgage from the developer and has generated $75,000 in income that he should have reported on tax and financial disclosure forms, his lawyer said yesterday.
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Florida, California driving mortgage delinquency rate (Orlando Business Journal)
Mortgage loan delinquency rates in Florida and California are driving the nation's residential delinquency rate, which jumped .06 percent in the second quarter to 6.41 percent of all outstanding loans, according to the Mortgage Bankers Association.
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Realty Q&A: How to get a no-hassle FHA purchase-rehab mortgage (Market Watch)
I'm trying to obtain a loan for a home purchase -- I am not a flipper -- and I have been unable to find anyone who knows about the FHA Streamline K loan. How can I go about finding a lender familiar with this type of mortgage?
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Home loan troubles break records again (AP via Yahoo! News)
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments.
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Home Loan Woes Break New Records (Time Magazine)
A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June
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Rangel had no-interest mortgage more than 10 years (AP via Yahoo! News)
Rep. Charles Rangel paid no mortgage interest on a beach resort property for more than 10 years, a lawyer for the powerful House committee chairman said Friday.
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Mortgage rates drop slightly in week (UPI)
WASHINGTON, Sept. 4 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages dropped modestly from the previous week, the Federal Home Loan Mortgage Corp. said Thursday.
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