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Subprime Lending News

Bad Credit Scores Lead to Bad Credit Loans and Fewer Job Opportunities

March 12, 2010 By: Credit Loan.com

If your credit score is low, you already have to deal with the high interest rates and fees that come with most bad credit loans. But did you know that a bad credit score can also keep you from landing your dream job? A recent survey by the Society of Human Resources Managers found that 60 percent o...


Mortgage Rates Drop Slightly in Freddie Mac Weekly Survey


March 12, 2010 By: Freddie Mac

McLean, VA – Freddie Mac (NYSE:FRE) hasreleased the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year ...


The Subprime Lending Business Survives, Even Thrives

March 11, 2010 By: Time

Poor credit? It's still no problem for some lenders. The financial crisis was supposed to ring the death knell for companies that make loans to people who have had problems with debt. But a year and a half later, so-called subprime lending is alive and well. What's more, fears that increased regulat...


Borrower's dilemma: pay credit card bill or mortgage?


March 11, 2010 By: Statesman.com - Texas

CHICAGO — U.S. consumers are starting to look like a frugal, debt-fearing lot as they pay down billions of dollars in credit card obligations. However, a potentially alarming trend is emerging: A small but growing number of people are skipping mortgage payments in favor of paying their credit card b...


Can Citigroup Home Loan Modification Program Help Underwater Borrowers?


March 11, 2010 By: Red, White and Blue Press

Citigroup has enjoyed a great deal of success in the Making Home Affordable Program as they have put half of the homeowners that potentially qualify into either a trial modification or a permanent modification. However, there remain troubles and frustrations with homeowners who are either having a ...


Foreclosures leveling off


March 11, 2010 By: CNN Money

The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday, the latest sign that the pace of foreclosures is slowing. In January, the foreclosure rate had fallen 10% from December, according to RealtyTrac. And though foreclosures were up...


Treasury Assistant Secretary Barr Remarks Before National Council of State Housing Agencies

March 10, 2010 By: US Treasury

The Administration has taken broad action over the past year to stabilize the housing market and help American homeowners. And the housing finance agencies are playing an important role in these efforts.


Mom, Apple Pie and Mortgages


March 8, 2010 By: NY Times

FOR decades, the federal government has subsidized housing — particularly owner-occupied housing. This has been especially true during the continuing financial crisis, with Fannie Mae, Freddie Mac and the Federal Housing Administration propping up the housing market by issuing guarantees for investo...


Program Will Pay Homeowners to Sell at a Loss


March 8, 2010 By: NY Times

In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less than they owe and will give them a little cash t...


Low Rates Help Make Home Buying More Affordable


March 5, 2010 By: Freddie Mac

McLean, VA – Freddie Mac (NYSE:FRE) has released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Last year a...


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