Tx mortgages : Tx mortgage rates and home loans

Freddie Mac: Economy on Slow, Steady, Path to Recovery

2/22/2012 2:40 PM

In the February Economic Outlook from Freddie Mac's Office of the Chief Economist is projecting a slow, steady path to recovery as the economy, it says, continues to build on the momentum it displayed at the end of last year. The report cites 243,000 new jobs in January, an unemployment rate falling to 8.3 percent and an increa...Read More

NAR: Existing Home Sales and Inventories Improved in January

2/22/2012 11:26 AM

There was more good news from the National Association of Realtors® (NAR) on Wednesday as they reported that the sales of existing homes rose in January, marking three months out of the last four where sales improved. Inventories of homes for sale were also improved and NAR disputed the need for a program to rent foreclosed proper...Read More

MERS Has Second Court Win in Month

2/22/2012 10:39 AM

For the second time in just under a month the Mortgage Electronic Registration System (MERS) has won a significant court victory. The company which serves as registration agent for major mortgage lenders is currently involved in multiple lawsuits throughout the country. It prevailed in one of these suits, a case file...Read More

Inspector General Looks at GSE's as Legal Costs Pass $100 Million

2/22/2012 10:36 AM

Both before and after they were placed into conservatorship the two government sponsored enterprises Fannie Mae and Freddie Mac (the Enterprises) spent large amounts of money to defend themselves and former senior executives in class action lawsuits and other legal matters. For example, in cases arising out of alleged accounting...Read More

Mortgage Applications Slow as Average Rates Rise

2/22/2012 7:52 AM

Mortgage applications decreased during the week ended February 17 according to the Weekly Mortgage Applications Survey released this morning by the Mortgage Bankers Association (MBA), The Market Composite Index measuring the volume of applications decreased 4.5 percent on a seasonally adjusted basis and 3.6 percent unadju...Read More

FHFA Sends Congress Strategic Plan for GSEs

2/21/2012 1:07 PM

The Federal Housing Finance Agency (FHFA) said Tuesday that, with its conservatorship of Fannie Mae and Freddie Mac (the Enterprises) now in operation for more than three years "and no near-term resolution in sight," it was time to assess its goals and directions. In a Read More

LPS Previews January Delinquency Data

2/21/2012 10:12 AM

In its Monthly Mortgage Monitor Report Lender Processing Services (LPS) will report that the national delinquency rate, loans that are 30 days or more late, but not in foreclosure, decreased 2.2 percent in January to 7.97 percent. This is a drop of 10.5 percent from the rate in January 2011. The total number of loa...Read More

Default Rates Head Down Again

2/21/2012 9:42 AM

After four straight months of increases The S&P/Experian Consumer Credit Default Indices fell in January as did the four loans types that make up the composite. The Default Index dropped from 2.24 percent in December to 2.16 percent in January. In January 2011 the index was at 2.90 percent.

Much of the d...Read More

NAHB: Home Affordability at Record Levels

2/17/2012 8:46 AM

While housing is more affordable than ever for most U.S. families, the lack of financing available to them continues to constrain prospective homebuyers according to the most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released on Thursday. The Index indicates that 75.9 ...Read More

CitiMortgage Settles "Brute Force" Suit for $153.8 Million

2/16/2012 12:35 PM

A lawsuit filed against CITIMORTGAGE, INC, a subsidiary of CITIBANK, N.A. was filed in the U.S. District Court for Manhattan on Wednesday and simultaneously settled for $158.3 million. The suit, brought by the U.S. Attorney that District on behalf of the Department of Housing and Urban Development (HUD), charged the company, a particip...Read More

Fed and Economy News:

Default Service Providers Promote Products

2/22/2012 1:11 PM

Default service providers are busy this week touting their wares as mortgage servicers converge in Florida. Products being promoted include those that identify property association liability and platforms for the entire default loan process.....Stewart Lender Services is exhibiting at the Mortgage Bankers Association's National Mortgage Se...Read More

Expected 1st Half Originations Upped

2/22/2012 11:31 AM

Thanks to a stronger refinance outlook, more mortgage business is expected during the first six months of 2012 than was forecast last month.....The outlook for residential production during the first quarter was raised 13 percent from what was forecasted just last month.....Even the second-quarter projection was raised 3 percent from th...Read More

Mortgage Market Needs Changes

2/22/2012 7:13 AM

A leading analyst sees many changes needed in the mortgage market. One of those changes is higher interest rates.....Meredith Whitney, founder and chief executive officer of Meredith Whitney Advisory Group noted that the Federal Reserve is evenly divided between raising rates and not raising rates.....But low rates haven't done much for...Read More

GSE Execs Rack Up Tens of Millions in Legal Expenses

2/22/2012 6:26 AM

An inspector general report examined legal fees being paid on behalf of former senior executives of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. One way that the two government-controlled enterprises can cut back on legal expenses is to stay all litigation until they are out of conservatorship since neither wil...Read More

HUD Clarifies HAMP Credits Toward Settlement

2/22/2012 4:59 AM

While some principal reduction on mortgages with government loan modifications can be credited towards the recent mortgage servicer settlement, the vast majority of loans modified under the federal program won't be eligible.....The Department of Housing and Urban Development says that incentives paid to servicers under the Home Affordable Mod...Read More

Fed and Economy News:

Buy a house, and other forced savings

2/22/2012 2:47 PM

WASHINGTON (Reuters) - This is America Saves Week, one of those artificial holidays designed to convey a message. And the message is: Save more money.

2/22/2012 2:58 PM

(Reuters) - In 2005, after 20 years as a New York state trooper, Nicole Wilder was able to start her retirement at age 48.

2/22/2012 11:15 AM

(Reuters) - If you knew you would be around to blow out the candles at your 100th birthday party, would that change how you manage your money today?

2/22/2012 3:36 PM

NEW YORK (Reuters) - Some U.S. pawnbrokers are taking liquid assets - literally.

How lies and legal problems snowball

2/22/2012 1:56 PM

(Reuters) - Brokers who hide embarrassing legal troubles from their employers risk triggering a new set of problems that could be worse.

2/22/2012 10:51 AM

(Reuters) - Nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010, according to a report released on Wednesday by the research firm Javelin Strategy...

2/22/2012 7:04 PM

WASHINGTON (Reuters) - President Barack Obama made an opening offer in what could be a long negotiation with corporate America on Wednesday, putting forward his first detailed plan to cut the...

2/22/2012 7:19 AM

SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook is in an enviable position - market leading products, a $98 billion warchest and a seemingly gravity-defying stock price.

2/22/2012 1:36 PM

(Reuters) - While Wall Street slashes pay and freezes cash awards, Goldman Sachs Group's top five executives may reap special bonuses of $10.5 million apiece if the firm hits historically easy profit...

2/21/2012 3:54 PM

NEW YORK (Reuters) - Corn, wheat and cotton prices are expected to fall - and that could lead to gains in sectors far removed from the farm.

Fed and Economy News:

Karzai urges calm as six die in Afghan Koran protests

2/22/2012 4:40 PM

KABUL (Reuters) - Afghan President Hamid Karzai appealed for calm Wednesday after officials said six people were shot dead and dozens wounded in protests over the burning of copies of the Koran, Islam's holy book, at NATO's main base in the country.

Whitney Houston Open Casket Photo Graces National Enquirer Cover

2/22/2012 4:26 PM

In a classy move certain to enrage fans while boosting sales, the National Enquirer has published a photo of Whitney Houston's open casket this week.

The image of the late pop diva was purportedly taken during a private viewing at the Whigham Funeral Home in Newark, N.J.

The exercise in sensationalism is on par with th...Read More

Assad forces bomb Syria's Homs

2/22/2012 4:28 PM

AMMAN/BEIRUT (Reuters) - Syrian President Bashar al-Assad's forces rained rockets and bombs down on opposition-held neighborhoods of the city of Homs on Wednesday, reducing buildings to rubble and killing more than 80 people, including two Western journalists.

White House seeks to deflect blame over rising gas prices

2/21/2012 4:51 PM

WASHINGTON (Reuters) - Under fire from Republicans over rising gasoline prices, the White House on Tuesday highlighted factors beyond its control for gains in global oil markets, as it sought to deflect blame over a potentially damaging election-year issue.

Iran defiant as U.N. nuclear talks fail

2/22/2012 4:42 PM

VIENNA/TEHRAN (Reuters) - The U.N. nuclear watchdog ended its latest mission to Iran after talks on Tehran's suspected secret atomic weapons research failed, a setback likely to increase the risk of confrontation with the West.

2/22/2012 4:16 PM

WASHINGTON (Reuters) - President Barack Obama made an opening offer in what could be a long negotiation with corporate America on Wednesday, putting forward his first clear plan to cut the corporate tax rate.

2/22/2012 4:04 PM

MOSCOW (Reuters) - Vladimir Putin praised Cold War-era scientists on Thursday for stealing U.S. nuclear secrets so that United States would not be the world's sole atomic power, in comments reflecting his vision of Russia as a counterweight to U.S. power.

U.S. government concerned about Anonymous causing blackouts

2/21/2012 4:25 PM

National Security Agency director General Keith Alexander believes Anonymous could have the power to take town the United States’ electrical grid this year.

The Wall Street Journal’s sources say the director admitted his concern over the hacktivist group at the …

CIA to software vendors: A revolution is coming

2/21/2012 7:00 PM

WASHINGTON (Reuters) - The U.S. Central Intelligence Agency told software vendors on Tuesday that it plans to revolutionize the way it does business with them as part of a race to keep up with the blazing pace of technology advances.

'Seinfeld' Actor in Critical Condition After Apparent Suicide Attempt (Report)

2/22/2012 5:53 PM

Daniel von Bargen, who played George Costanza's boss Mr. Kruger on "Seinfeld," is in critical condition after apparently attempting suicide by shooting himself in the head, TMZ reports.

Von Bargen, 61, was transported to an Ohio hospital after calling 911 from his Cincinnati apartment and telling the operator that he ...Read More

Fed and Economy News:

Obama urges corporate tax cut, closing loopholes

2/22/2012 7:04 PM

WASHINGTON (Reuters) - President Barack Obama made an opening offer in what could be a long negotiation with corporate America on Wednesday, putting forward his first detailed plan to cut the corporate tax rate.

2/22/2012 5:42 PM

WASHINGTON (Reuters) - Several members of the Congress received mail threatening a biological attack and containing a suspicious powder later found to be harmless as law enforcement officials warned on Wednesday that more letters could be on their way.

Lawmakers to Obama: tamp down fuel prices with oil stocks

2/22/2012 2:43 PM

WASHINGTON (Reuters) - Three Democratic lawmakers on Wednesday urged the White House to signal it is ready to tap the nation's oil stockpiles to combat surging fuel prices, arguing an "aggressive" strategy could tamp down speculation.

Santorum takes heavy fire in Arizona Republican debate

2/22/2012 10:08 PM

MESA, Arizona (Reuters) - Rivals piled criticism on presidential candidate Rick Santorum at a testy debate on Wednesday, attempting to blunt his surprise surge at a pivotal period in the Republican race.

2/22/2012 12:04 PM

WASHINGTON (Reuters) - Republican U.S. presidential candidates Mitt Romney and Rick Santorum are running neck-and-neck but neither would beat incumbent President Barack Obama, according to several polls released on Wednesday.

2/22/2012 4:24 PM

WASHINGTON (Reuters) - When is legislation put up for a vote but never expected to become law?

2/22/2012 6:26 PM

CHANDLER, Ariz./WASHINGTON (Reuters) - Republican Mitt Romney revised his proposal for overhauling the U.S. tax code on Wednesday, calling for all individual tax rates to be cut by 20 percent while declining to offer specifics on how to make up the lost revenue from lower rates.

Palin book author pays fine for using confidential emails

2/22/2012 4:18 PM

ANCHORAGE, Alaska (Reuters) - A former aide to Sarah Palin who wrote an unflattering memoir of his time in her inner circle has paid a $11,900 fine for using confidential state emails without permission, according to the Alaska Department of Law.

Santorum's push on social issues a challenge for Romney

2/21/2012 6:42 PM

WASHINGTON (Reuters) - Republican presidential hopeful Rick Santorum's hard-charging focus on social issues has created a quandary for rival Mitt Romney, who usually prefers to steer clear of such sensitive topics and stress his business credentials.

Democrat with famous name bids to oust Wisconsin

2/22/2012 5:25 PM

MADISON, Wis (Reuters) - Wisconsin Democrats on Wednesday got a candidate with a famous name to challenge controversial Republican Governor Scott Walker in a recall election when Doug La Follette, a relative of well-known Wisconsin progressive "Fighting Bob" La Follette, said he would run for governor.

Fed and Economy News:

Another jobless recovery?

7/22/2009 12:00 AM

Fed Chairman Ben Bernanke's appearance before the House Financial Services Committee yesterday lacked any unexpected revelations. One point in his prepared remarks did catch my attention, however...Read More

Mortgage modification the key?

7/16/2009 12:00 AM

Not to beat a dead horse, but it is worth revisiting the Making Home Affordable initiative because the foreclosure problem just isn't going to go away. I want to point out two things: one that is missing and another that isn't working anywhere close to expectations...Read More

What can the Fed do about mortgage rates?

6/24/2009 12:00 AM

Will the Fed continue to target long-term interest rates at this week's upcoming meeting...Read More

Industry News and Information from YourLoanPro.net

The mortgage industry seems to make a lot of changes lately, visit often to find out the latest news and information going on.

Click on the links below for great tips and articles to help you and keep you informed

04.14.2010 - Sign up now for the latest in Social Marketing. Hubze is expected to launch soon.

04.12.2010 - Here is a great interactive map from DN that gives you the area median price, days on the market, etc.

04.12.2010 - Take a look at this short article to see what the tax implications could be for customers who are considering a "Short Sale Transaction".

03.17.2009 - An article by Drew Sygit that does a great job of highlighting the shortcomings of the HVCC appraisal process.