Mortgage News

30-year fixed falls to record low 4.32 percent

9/2/2010 7:00 PM

The 15-year fixed also hit a fresh record low, slipping to 3.83 percent from 3.86 percent a week ago and 4.54 percent last year. Meanwhile, the five-year adjustable-rate mortgage averaged a record low 3.54 percent, down from 3.56 percent last week and 4.59 percent last year...Read More

Mariner Holdings Buys Stake in $760 Million of Real Estate Loans From FDIC

9/2/2010 7:00 PM

"Mariner Holdings LLC said it purchased part of a $760 million portfolio of property loans from the Federal Deposit Insurance Corp. as part of the agency’s sale of assets seized from failed banks....Read More

Pending Home Sales Reconfirm the Market is Crashing

9/2/2010 7:00 PM

"Record low levels of demand continue to haunt the U.S. housing market with July pending home sales re-confirming previous crash-level readings....Read More

Fannie to Crack Down on Foreclosure Delays

9/2/2010 7:00 PM

"On Tuesday, Fannie Mae announced that it was not longer giving servicers free rein, and was clamping down on multiple fronts, such as procedures and record-handling, mortgage mods. When a group of bloggers met with the Treasury in mid-August, one senior Treasury official commented on how apparent servicer intransigence (my turn of phrase, not his)...Read More

MBA: 2Q CMBS delinquency rate 8.22%

9/2/2010 7:00 PM

"Second-quarter delinquency rates for loans held in commercial mortgage-backed securities are at the highest level since the Mortgage Bankers Association began tracking the data in 1997....Read More

homeq to cut 901 jobs

9/2/2010 7:00 PM

"Employees at the North Highlands-based company located just outside of Sacramento will be laid off by November 19 – and the massive HomEq facility will be shuttered by October 31....Read More

BlackRock Chosen by State Insurance Regulators in U.S. to Weigh CMBS Risks

9/2/2010 7:00 PM

"BlackRock will review more than 7,000 securities by year- end, the National Association of Insurance Commissioners said yesterday in a statement released on its website. The New York- based firm will calculate loss expectations for the holdings, which will determine how much capital insurers must hold to cushion potential declines, NAIC said....Read More

private mortgage modifications triple hamp mods in july

9/2/2010 7:00 PM

Meanwhile, foreclosure starts totaled 226,664 in July, a 22 percent increase from June and nearly double the number of loan mods completed. And foreclosure sales climbed 12 percent month-to-month to 97,951...Read More

Home Prices in China to Decline Starting From September, BNP Paribas Says

9/2/2010 7:00 PM

"China’s home prices will decline from this month as the government maintains its lending curbs and increases the supply of public housing, forcing property developers to cut prices to boost sales, BNP Paribas said....Read More

Pending Home Sales Rebound from Record Low. What Might Boost Buyer Demand?

9/2/2010 7:00 PM

"NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an existing home sale. Because the Pending Home Sales index tells us how many contracts were signed, it is consider a forward indicator of existing home sales...Read More

We are required by law to list the following licensing information. Flagship Financial Group, LLC is licensed as: Alaska Mortgagee Licensee #100278; Arizona Banker 0908193; Department of Corporations under the California Residential Mortgage Lending act Lender 4130854; Florida Correspondent Lender CL 0703188; Georgia Mortgage Broker Licensee 17297 – 3130 W Maple Loop Dr, #200, Lehi, UT 84043 (GA); Illinois Residential Mortgage Licensee MB6760204; Registered under the Kansas Mortgage Business Act License Number of 2002-4309, Maine Mortgage Lender License# SLM9424; Maryland Mortgage Lender 16461, Mississippi Supervised Mortgage Company 308/2006; Nevada Mortgage Broker 1385 – 1349 Galleria Dr., #110, Henderson, NV 89014; New Hampshire Banking Department Mortgage Broker 13439-MBR; North Dakota Money Broker MB101563; Licensed by the Pennsylvania Department of Banking (PA); Utah Mortgage Loan Company 5493106; Licensed by the Virginia State Corporation Commission, License MC-2980. In certain states in which we do conduct business, certain restrictions and limitation apply. Rates and terms subject to change. If you have any questions or comments regarding this offer please email to lharris@ffgcorporate.com.

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