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Mortgages

A collection of news and information related to Mortgages published by this site and its partners.

Top Mortgages Articles

Displaying items 12-22
  • Former BofA short-sales employee gets prison term for taking bribes

    Former BofA short-sales employee gets prison term for taking bribes
    A former Bank of America mortgage employee was sentenced to 30 months in prison for pocketing $1.2 million in payoffs to approve sales of distressed properties for far less than their actual value. Kevin Lauricella, 29, who had worked for BofA in Simi...
  • Sharpe's Apartment Lease In Charter Group's Building Raises More Questions

    Ex-charter school boss Michael Sharpe's lease with his former employer has raised new questions about how much he has been paying to live in an Asylum Hill apartment owned by the government-subsidized Jumoke Academy charter group. Sharpe, who until late...
  • Foreclosure activity keeps falling in California

    Foreclosure activity keeps falling in California
    The foreclosure crisis continued to ease this spring, though there are some signs that banks may be taking back more houses now that home prices are higher. A pair of reports out Thursday show fewer homes falling into foreclosure in California in the...
  • Webster Financial Posts Higher Quarterly Profits

    The Waterbury-based parent of Webster Bank posted higher second-quarter profits Thursday, with strong loan growth, especially among business borrowers. Webster Financial Corp. said net income for the quarter ended June 30 was $45.2 million, or 50 cents a...
  • Developer's zero-interest loans highlight China property risks

    HONG KONG (Reuters) - China's third largest property developer, Evergrande Real Estate, has joined smaller peers in offering zero-interest downpayment loans, a practice reminiscent of the U.S. housing boom that precipitated the global financial crisis....
  • Bank of America earnings tumble 43% on mortgage litigation costs

    Bank of America Corp.'s second-quarter earnings plunged 43% as the nation's second-largest bank recorded 4 billion additional reasons to regret its 2008 purchase of high-risk home lender Countrywide Financial Corp. in Calabasas. Bank of America said...
  • Fannie, Freddie making risky deals with small lenders: watchdog

    WASHINGTON (Reuters) - U.S. housing finance companies Fannie Mae and Freddie Mac are making riskier deals as they increasingly purchase mortgages from smaller lenders, a federal watchdog said on Thursday. The government-owned companies do not lend money...
  • Couple struggling with three loans on two houses

    By Ilyce Glink and Samuel J. Tamkin Q: My husband and I have a house outside of Atlanta that we have lived in for 30 years. We have a first mortgage and a home equity line of credit, and both still have balances. If we sell this house, we probably could...
  • The Mortgage Professor: Will lenders pay borrowers to take a mortgage loan?

    Yes, U.S. mortgage lenders will pay rebates to borrowers. This is a potentially valuable option which, to my knowledge, is not offered anywhere else in the world. But having options means having to make choices, and this is a difficult one that...
  • There may be zombies in your neighborhood

    Residential real estate has its own version of the 1968 cult classic "Night of the Living Dead." You could call it "Zombie Foreclosures." RealtyTrac, a search engine that collects real estate data nationwide, defines the phenomenon: "Properties that have...
  • Freddie Mac: Mortgage rates level off, 30-year loans average 4.12%

    The cost of getting a mortgage has leveled off, with Freddie Mac saying lenders were offering 30-year fixed-rate home loans this week at an average interest rate of 4.12%. That rate is little changed from the average of 4.15% over the last 10 weeks. The...