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MORTGAGE LOAN NEWS
Virginia-Based Net Branch Firm Closing Doors 2008-08-27 13:28:41 Carteret Mortgage Corp. of Virginia, a large net branch operator that caters to loan brokers, is closing its doors, sources have told MortgageWire. 2008-08-27 13:28:41 Starting Oct. 1, the Federal Housing Administration says it will charge homebuyers a 1.75% upfront mortgage insurance premium on single-family loans and a 3% upfront premium on FHA Secure loans for delinquent borrowers. FDIC to Sell IndyMac Whole, or in Pieces 2008-08-27 13:28:41 The Federal Deposit Insurance Corp. is planning to sell IndyMac Bank as a whole unit or in pieces, and the marketing will probably begin in September. Alliance: Nearly 200K Loans Revamped in July 2008-08-27 13:28:41 The Hope Now alliance says it modified or entered into new payment plans on 192,034 residential loans during July. NAMB Prez: Counteract Media's Message 2008-08-27 13:28:41 National Association of Mortgage Brokers president Marc Savitt says the industry needs to take its message right to consumers about the state of the market to counteract the news media's focus. Thrifts Report $5B in 2Q Losses 2008-08-27 13:28:41 Thrifts have reported $5 billion in losses for the second quarter after socking away $14 billion in loan loss reserves and taking $5.6 billion in chargeoffs, according to the Office Thrift Supervision. Mortgage Overdues, Chargeoffs Rising at Banks 2008-08-27 13:28:41 Delinquencies and chargeoffs on residential mortgages and construction and development loans accelerated during the second quarter as banks and thrifts reported an 87% drop in profits, according to the Federal Deposit Insurance Corp. Home123 Revived by Accounting/CU Alliance 2008-08-27 13:28:41 PBG Financial Services Ltd., an accounting firm based in Northbrook, Ill., has announced the relaunch of Home123 Mortgage in partnership with Central States Mortgage Inc., a credit union service organization based in Wauwatosa, Wis. LenderLive Buys Guardian Mortgage Docs 2008-08-27 13:28:41 LenderLive Network Inc., a Denver-based provider of business process outsourcing and technology, has announced the purchase of the assets of Guardian Mortgage Documents. Five X to Focus on RE for Individual Investors 2008-08-27 13:28:41 Five X Securities Inc., Oakton, Va., has been formed to provide what it terms "high-quality real estate opportunities to individual investors," and Daniel Young has been appointed as principal and chief executive officer. |
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