Tag Archives: mortgages
Student Debt Continues to Rocket: NY Fed
NEW YORK (TheStreet) — Student debt continues to climb, even as other forms of consumer debt decline, according to the latest quarterly report on household debt published by the New York Federal Reserve. Student loans grew by $20 billion during the first quarter to a total of $986 billion as of March 31, 2013. Continue reading
Interest-Only Borrowers Face ‘Wake-Up Call’
Some 260,000 people with interest-only mortgages have no repayment strategy in place and will be unable to pay off their loan. Continue reading
DFS Force-Placed Insurance Legislation is a Joke
By Brian Penny “As long as they look good when they be doin’ bad;/Then the separation from the truth is getting’ vast – fast.” – Lupe Fiasco, “Strange Fruition” NEW YORK (MainStreet)–I saw Force-Placed Insurance, the practice where banks force mortgage borrowers to have insurance, bubbling in the media again toward the end of March, but I was busy with my van renovation, yoga, and a few other projects I’m working on. Last night I finally had a moment to read what the commotion is all about Continue reading
Banks to Suffer Big Decline in Mortgage Revenue in 2013
NEW YORK (TheStreet) — Regional banks enjoyed a blowout 2012 for mortgage revenue. But that may all come to an end this year. Continue reading
Fed Survey Sees Rise in Demand for Securities Financing
Conditions in the U.S. market for securities backed by residential and commercial mortgages improved this autumn as overall demand for financing of securities improved, a Federal Reserve report said. Continue reading
Lloyds Plans to Sell £1.2 B of Distressed Debt
Lloyds Banking Group PLC (LLOY.LN) plans to sell 1.2 billion pounds ($1.9 billion) of distressed mortgages tied to European real estate, the Financial Times reported Thursday on its website, without directly citing a source. Continue reading
Sandy takes a chunk out of mortgage applications
Applications for U.S. home mortgages fell last week as Superstorm Sandy battered the East Coast and disrupted normal business activity for millions of people, an industry group said on Wednesday. Continue reading
Fannie, Freddie: Winners on Bailout Payback Hopes
NEW YORK (TheStreet) — Fannie Mae and Freddie Mac were the big winners on Tuesday, among major U.S. financial companies. Fannie Mae’s shares were up 33% to close at 69 cents, while Freddie Mac’s shares rose 30% to close at 66 cents. Continue reading →