4 Articles match "Homes","Real Estate","Wells Fargo"

The Latest from RealtyTrac MORE
40 Is the New 30 for Lenders and Investors
Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves. Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Stumbling Subprimes Spell Opportunity
Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Not Enough Rope in Administration's Lifeline' Program
Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. Washington Mutual and Wells Fargo & Co. — Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure. In reality what they threw out is no more than
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • 40 Is the New 30 for Lenders and Investors
    Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves. Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • First-Time Buyers Get Help with CA Foreclosure Purchase
    Arnold Schwartzenegger announced Monday that CalFHA’s Community Stabilization Home Loan Program will dole out the money, expected to help as many as 1,000 Californians obtain their piece of homeownership. The catch is buyers have to be willing to buy their dream home in one of the designated areas approved by CalFHA — such as Alameda, Contra Costa and Riverside counties — and the foreclosure property must be specifically set aside for the program and owned by one of the participating lenders — including Wells Fargo, HomeEq, CitiMortgage and Fannie Mae.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Stumbling Subprimes Spell Opportunity
    Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Not Enough Rope in Administration's Lifeline' Program
    Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. Washington Mutual and Wells Fargo & Co. — Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure. In reality what they threw out is no more than
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE