Study: Brokers, Minority Borrowers to Blame for Most Mortgage Delinquencies
Study: Brokers, Minority Borrowers to Blame for Most Mortgage Delinquencies
DSNews
Residential mortgages originated by brokers at the height of the
housing boom, as well as loans given to minority borrowers, are to
blame for the lion’s share of delinquencies in the current recession,
according to a study released this week by researchers at the Columbia
Business School.
Confusion Roils HARP Program for Refinancing
The Wall Street Journal
Helping borrowers with little or no equity in their homes refinance their mortgages has turned out to be far more difficult than government officials expected.
When the Home Affordable Refinance Program, or HARP, was rolled out in March, the Obama administration said that millions of borrowers would be able to refinance. By the end of July, just 60,000 borrowers had refinanced through the program.
Commercial Loans Biggest Threat to Banks: FDIC’s Bair
CNBC
Commercial loans are likely to be the biggest drivers of future bank failure, Sheila Bair, Chairman of Federal Deposits Insurance Corporation, told CNBC Tuesday.
Wall Street sold off sharply Tuesday on speculation that a big bank in the US or Europe may be heading for failure. Bair said investors should keep their cool, but warned that commercial loans overhang could still be a concern.
ForeclosureRadar Expands Its Professional Foreclosure Search Tool Into Four New States
Reuters
ForeclosureRadar(http://www.foreclosureradar.com), an online service that provides accurate,up-to-date information on the foreclosure market, today announced itsexpansion into Arizona, Nevada, Oregon, and Washington. The company has operated in California for over two years and counts several thousand professional investors, Realtors, and government and financial institutions among it subscribers.
Redfin Launches iPhone App
Reuters
Online real estate broker Redfin today announced the availability of the Redfin App on the App Store. The app lets iPhone and iPod touch users view homes for sale on the Multiple Listing Services (MLS) and upload photos and notes from a home tour to Redfin's real-estate search site.