http://www.mortgagedaily.com?spcode=rss Mortgage Industry News for the Mortgage Industry Sat., 05 June 2010 17:57 GMT en-us http://www.mortgagedaily.com/MctBoaDeficiency060510.asp?spcode=rss http://www.mortgagedaily.com/MctBoaDeficiency060510.asp?spcode=rss Sat., 05 June 2010 17:57 GMT
But if the borrower can afford to pay or has assets, the bank will try to negotiate a set fee for the borrower to pay at closing.

If the borrower refuses to turn over financial information, the bank will retain its right to go after the money.]]> http://www.mortgagedaily.com/FtcAction060410.asp?spcode=rss http://www.mortgagedaily.com/FtcAction060410.asp?spcode=rss Fri., 04 June 2010 23:42 GMT
According to the agency, a "nationwide mortgage company" is facing "major law enforcement action."

The company is accused of misleading and overcharging borrowers in financial distress.]]> http://www.mortgagedaily.com/ColonialDirectors060410.asp?spcode=rss http://www.mortgagedaily.com/ColonialDirectors060410.asp?spcode=rss Fri., 04 June 2010 21:51 GMT
The filing requests that the cap for post-October expenditures be raised by $1.5 million.

It's the second time the bankruptcy court was asked to release defense funds.]]> http://www.mortgagedaily.com/Employment060410.asp?spcode=rss http://www.mortgagedaily.com/Employment060410.asp?spcode=rss Fri., 04 June 2010 14:18 GMT
The number was down 17,900 from April 2009.

Most of the job losses in April occurred with "real estate credit" positions.]]> http://www.mortgagedaily.com/RefiRates060310.asp?spcode=rss http://www.mortgagedaily.com/RefiRates060310.asp?spcode=rss Fri., 04 June 2010 01:08 GMT
But there was no weekly change in the one-year Treasury-indexed adjustable-rate mortgage, thought it is still at its lowest level since May 2004.

The Mortech-MortgageDaily.com Mortgage Market Index shot up to 324 from last week's 270.]]>