Bad Home Loans Top $72 Billion in ‘Colossal Failure’: Mortgages

Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry’s practices.

Mortgage Bonds Face Eye of Storm as Refinancings Decline: Credit Markets

Prepayments for Fannie Mae’s 30-year fixed-rate securities fell 8 percent last month to a pace that would erase 21.6 percent of the debt in a year, the slowest since September, data released Feb. 6 by the Washington-based company show.

Coinstar's Spectacular Quarter Makes It Worth Your Dollars (The Motley Fool)

The Motley Fool - Automated retail solutions provider Coinstar (Nasdaq: CSTR - News) beat Street estimates handsomely in the fourth quarter, and saw its shares spike 13% in extended trading.

The Solid State of SanDisk (The Motley Fool)

The Motley Fool - SanDisk (Nasdaq: SNDK - News) posted healthy revenue of $1.6 billion for the fourth quarter of 2011. However, the company forecast $1.3 to $1.35 billion in revenue for the first quarter, below the $1.46 billion expected by analysts. This resulted in the stock price tanking by 10%.

Output, loans up in 2011

The growth of outstanding loans of commercial banks for both consumer and commercial sectors eased in December to 19.3 percent from the previous month’s expansion of 22.5 percent.

Mortgage applications jump on refi demand: MBA (Reuters)

Reuters - Applications for home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday.

Mortgage applications jump on refi demand: MBA

NEW YORK (Reuters) - Applications for home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 7.5 percent in the week ended Feb 3. The MBA's seasonally ...

Are Student Loans the Next Debt Bomb?

An increasing number of Americans are buckling under the weight of mounting student loan debt and the fallout could look a lot like the nation's catastrophic mortgage meltdown, experts say. Total student ...

How to Get Your Credit Card Rate Lowered in 5 Steps

One of the biggest benefits of maintaining good credit is access to the most competitive interest rates on everything from loans to lines of credit. However, even good credit doesn't necessarily guarantee you the lowest possible credit cards rates. The reality is that it may take a phone call (or several) to negotiate a truly fair APR.

Gateway Mortgage Group Experiences Record Loan Volume in 2011

Gateway Mortgage Group, a privately held mortgage company providing conventional, FHA and VA loans through 50 retail branches nationwide, announced that the company saw record grow

PennyMac Mortgage Investment Trust Reports Fourth Quarter and Full-Year 2011 Results

PennyMac Mortgage Investment Trust today reported net income for the fourth quarter of 2011 of $19.6 million, or $0.70 per diluted share, on total net investment income of $39.1 million.

Loans.org Accredited by the Better Business Bureau with an A+ Rating

In order to further establish credibility, Loans.org made an appeal to the Better Business Bureau. The loan quote site is now accredited with an A+ rating.Los Angeles, CA (PRWEB) February 08, 2012 Loans.org, the nationwide loan quote gathering hub, is proud to announce it is now accredited by the Better Business Bureau (BBB). While Loans.org focuses on educating the consumer and granting the ...

Credit demand unusually restrained: data

Demand for new credit was unusually restrained in the run-up to last Christmas, new data has found.

Port Vale late with loan payment

Port Vale director Mike Lloyd admits that the club have been late in paying two instalments of a council loan.

Faulty Loans Top $72 Billion as Banks Seek Legal Deal: Mortgages

Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry’s practices.

Faulty Loans Top $72 Billion as Banks Seek Deal With Regulators: Mortgages

Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry’s practices.

Mortgage Compliance and Real Estate Loss Mitigation Company, American Loan Compliance, Featured in National Business ...

NEW YORK, Feb. 7, 2012 /PRNewswire/ -- American Loan Compliance, America's leading loss mitigation and commercial mortgage loan audit report experts, were recently featured in the press showcasing the ...

S Korea Banks' Household Loans Fall By Record Amount In January

South Korean banks' lending to households fell the most on record in January because of lower mortgage loans amid sluggish housing transactions, the Bank of Korea said Wednesday.

Prologis Closes Multi-Currency Senior Term Loan Agreement

SAN FRANCISCO, Feb. 7, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD - News), the leading global owner, operator and developer of industrial real estate, today announced that it has entered into a senior term ...

Credit unions' best credit cards

Credit unions often offer lower interest rates on their credit cards than big banks do, but some are better than others. Here are 4 to consider.

Eyes on dissident states as mortgage deal nears (Reuters)

Reuters - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.

Eyes on dissident states as mortgage deal nears

(Reuters) - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said. Negotiators said a federal-state mortgage servicing settlement already has the backing of over 40 states but so far lacks the support of a handful of critical states, including ...

More US states to join foreclosure-abuse deal (AP)

AP - Arizona, Michigan and Florida, three of the states hit hardest by the housing crisis, will join a nationwide settlement over foreclosure abuses, officials with direct knowledge say. They will join more than 40 other states in approving a deal that would benefit many Americans who lost their homes or can't afford their mortgages.

Many Qualified SBA Loan Clients Being Redirected to Commercial Mortgages for Commercial Real Estate Based Transactions

Many Qualified SBA Loan Clients Being Redirected to Commercial Mortgages for Commercial Real Estate Based Transactions Clopton Capital, a Chicago-based commercial mortgage and SBA loan firm has seen an increase in the instances where SBA loan clients are being redirected to commercial mortgages when they are purchasing or refinancing commercial real estate. Clopton Capital, a Chicago-based ...

Economic Report: Consumer credit surges in December

Consumer credit popped for the second straight month in December, a sign that consumers are feeling more confident about their prospects and the economy.

SBA 504 Loans Hit Record Low Interest Rate for February

The Small Business Administration's 504 loan program is providing stable, long-term, fixed rate financing for commercial real estate and the purchase of other capital fixed a

THL Credit Schedules Fourth Quarter Earnings Release and Conference Call

BOSTON -- THL Credit, Inc. ("THL Credit"), a middle market capital specialist, today announced that it will report its financial results for its fiscal fourth quarter 2011 after the market closes ...

The Student Loan Crisis Is Crippling America's Families -- Is The Economy Next?

With student loan debt now topping U.S. credit card debt and few or no options available for distressed borrowers (including parents who co-signed and now face the loss of nest eggs, retirement homes and other assets), America faces the very real possibility of another major economic threat on par with the devastating home mortgage crisis, according to a new survey and report, Student Loan 'Debt ...

Sofame Bridge Loan Maturity Extended to March 15th

Analysis: Banks largely reserved for U.S. mortgage pact cost (Reuters)

Reuters - As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.

Analysis: Banks largely reserved for U.S. mortgage pact cost

(Reuters) - As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines. After more than a year of negotiations, the banks already have set aside money to cover legal costs and have built up their reserves to cover losses from reducing how much borrowers ...

How Boeing Measures Up (The Motley Fool)

The Motley Fool - Aerospace and defense giant Boeing (NYSE: BA - News) recently posted decent fourth-quarter numbers followed by a weak future outlook. While that information could be useless out of context, a broader view will help in judging where the company stands at present. Here's an analysis of Boeing's strengths, weaknesses, opportunities, and threats which should help develop a more complete picture about the company.

30-Year Fixed Mortgage Rate Drops to New Record Low; Current Rate is 3.66%, According to Zillow Mortgage Rate Ticker

SEATTLE -- The 30-year fixed mortgage rate on Zillow(R) Mortgage Marketplace is currently 3.66 percent, down six basis points from 3.72 percent at this same time last week. This represents the lowest rate ...

Delaware officials wrestle over mortgage deal (Reuters)

Reuters - Delaware stands to leave up to $40 million in homeowner relief on the table, if it does not join a multi-state mortgage settlement, according to a letter from the state's banking commissioner seen by Reuters on Tuesday.

Earnings Preview: Credit Suisse to post Q4 results

Credit Suisse Group's earnings results for the fourth quarter of 2011, due before financial markets open Thursday in Zurich, are expected to show a drop in profits.

Prudential Mortgage Capital Company posts strong originations 2011

Prudential Mortgage Capital Company originated nearly $9.7 billion in commercial mortgages for 2011, surpassing its 2010 level of $9.1 billion, making it the company’s third largest production year ever.

Electric car maker and U.S. loan recipient Fisker cuts jobs

Fisker Automotive, the electric car company that received $528 million in Energy Department loan guarantees, announced layoffs at its Delaware production facility on Monday.

Canadian Mortgage Rates Market Expected to Cool

TORONTO, ONTARIO-- - Recent fluctuations in variable and fixed mortgage rates have left Canadian consumers confused about future mortgage trends. The good news is that February should be less volatile, ...

CoVantage Credit Union Deploys Tyfone Mobile Wallet Services to Its Members

CoVantage Credit Union , serving 17 counties in Wisconsin and Michigan, today announced the availability of Tyfone mobile wallet services to its members. CVCU teamed with Tyf

Fisker has layoffs while renegotiating federal loan

Fisker Automotive, an electric car maker that received a half-billion-dollar loan from the federal government, said Monday that it has laid off workers in Delaware and California.