Mortgage Lenders Network USA Inc. has stopped fundingloans and placed about 80 percent of its workforce on leave, but will continueto service its $17.8 billion loan portfolio, the company said in response tomedia reports that it was closing.
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Subprime lenders hit Wall Street funding wall |
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Mortgage Lenders Network USA Inc. has stopped funding loans and placed about 80 percent of its workforce on leave, but will continue to service its $17.8 billion loan portfolio, the company said in response to media reports that it was closing. |
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Home loan apps pull out of rut |
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Overall mortgage application volume rebounded last week after two straight weeks of significant slowing, the Mortgage Bankers Association reported today. |
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Real estate rates climb overnight |
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Long-term mortgage interest rates were higher Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.68 percent. |
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Mortgage Lenders Network USA stops funding loans |
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Mortgage Lenders Network USA Inc. -- which employs 1,800 people nationwide originating and servicing Alt-A and nonconforming mortgage loans -- says it has stopped funding loans and accepting applications for new loans. |
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ABN Amro laying off 5% of North American workforce |
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ABN Amro Bank NV, the Netherlands-based parent of LaSalle Bank Corp., announced Thursday it will cut 900 jobs in North America, most of them in Chicago, where LaSalle is based. |
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Refinance at 1.25% a disaster in disguise |
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I seldom publish long letters in their entirety, but I'm making an exception in this column. The letter below is so wonderfully descriptive of the gullible mindset of a victim waiting to be plucked, and the modus operandi of a predator poised to do the plucking, that it is worth the space. |
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Mortgage broker reveals shocking insider facts |
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The only people who should read "Mortgage Confidential" by mortgage broker David Reed are home buyers who want to avoid unnecessary mortgage fees, homeowners who want to refinance and save money, and real estate agents looking out for the best interests of their buyers. All others should avoid reading this superb new book because you will be shocked by what goes on in the home-loan industry. |
