3 Articles match "Accounting","Amortization","Sales"

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The Government Goes After Loan Officers
Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a registered representative and collected compensation from the mortgage refinancings as well as the sales of securities. In making the sales, the brokers allegedly misrepresented
www.realtytrac.com - Tuesday, February 3, 2009
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Option ARM Borrowers Running Out Of Time
Each month for the first five years of the loan the borrower can make one of four payment choices each month: Pay the loan on a 30-year self-amortizing basis just like a traditional mortgage. Taxes and insurance are extra Pay the loan on a 15-year self-amortizing basis. Rather than amortizing the loan -- reducing the debt with each payment -- option ARMs allow borrowers to make Option ARM Borrowers Running Out Of Time By Peter G. Miller    Step right up folks.
www.realtytrac.com - Tuesday, February 3, 2009
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Wachovia Changes The Lending Game
Additionally, for all new loan originations, Wachovia is discontinuing offering products that include payment options resulting in negative amortization.” “This is one of the most-enlightened decisions by a major lender in the past 18 months,” says James J. In effect, waiving prepayment penalties that may not be collected is far better than losing homes to foreclosures and short sales. Negative Amortization Wachovia is also trying to make the best of a bad situation in another way: If it can get option ARMs refinanced it may be able to capture some of the “negative amortization”
www.realtytrac.com - Tuesday, February 3, 2009
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  • Wachovia Changes The Lending Game
    Additionally, for all new loan originations, Wachovia is discontinuing offering products that include payment options resulting in negative amortization.” “This is one of the most-enlightened decisions by a major lender in the past 18 months,” says James J. In effect, waiving prepayment penalties that may not be collected is far better than losing homes to foreclosures and short sales. Negative Amortization Wachovia is also trying to make the best of a bad situation in another way: If it can get option ARMs refinanced it may be able to capture some of the “negative amortization”
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • Option ARM Borrowers Running Out Of Time
    Each month for the first five years of the loan the borrower can make one of four payment choices each month: Pay the loan on a 30-year self-amortizing basis just like a traditional mortgage. Taxes and insurance are extra Pay the loan on a 15-year self-amortizing basis. Rather than amortizing the loan -- reducing the debt with each payment -- option ARMs allow borrowers to make Option ARM Borrowers Running Out Of Time By Peter G. Miller    Step right up folks.
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • The Government Goes After Loan Officers
    Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a registered representative and collected compensation from the mortgage refinancings as well as the sales of securities. In making the sales, the brokers allegedly misrepresented
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE