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California Home Mortgage

Home Mortgage and Refinance in California

FICO: Americans More Likely to Default on Mortgages than Credit Cards
American consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, even [...]
Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great deal of discussion and conjecture about those [...]
Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great deal of discussion and conjecture about those [...]
The Week Ahead: Treasury Auctions Highlight Slow Econ Calendar Until Friday
Equity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly higher with WTI crude oil up 33 cents to $81.83 per barrel and Spot Gold up [...]
The Week Ahead: Treasury Auctions Highlight Slow Econ Calendar Until Friday
Equity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly higher with WTI crude oil up 33 cents to $81.83 per barrel and Spot Gold up [...]
FHA Extends Deadline to Submit Audited Financials. Elimination of Correspondent/Broker Approval Still Pending
Via email, I recieved the following guidance from the FHA this morning: Subject: Guidance for Currently FHA-Approved Loan Correspondents Regarding Renewal of FHA Lender Approval for 2010 As proposed in a November 30, 2009 via 74 FR 62521 , HUD is seeking to eliminate FHA approval for loan correspondents. Because this rulemaking is still in [...]
The Day Ahead: Markets Await Jobless Claims and Home Sales
The futures market is pretty quiet this morning as investors await the jobless claims report today and the month’s unemployment report tomorrow. Also on deck today are revisions to the fourth quarter’s productivity and costs report, and the first look of the year at pending home sales. In Europe, Greece hit the market a well-bid [...]
The Day Ahead: Markets Await Jobless Claims and Home Sales
The futures market is pretty quiet this morning as investors await the jobless claims report today and the month’s unemployment report tomorrow. Also on deck today are revisions to the fourth quarter’s productivity and costs report, and the first look of the year at pending home sales. In Europe, Greece hit the market a well-bid [...]
The Day Ahead: Equities Climbing Ahead of Soft Schedule
Relative to how busy this week is, Tuesday’s economic calendar is pretty slow. Aside from the weekly retail sales surveys, no major economic data will be released, but the afternoon features two speeches from the Federal Reserve. 90 minutes before the opening bell, equity markets are clearly looking for a positive open. The Dow looks [...]
FHFA Extends High LTV Refinance Program into 2011
Homeowners who hope to refinance existing mortgages that are "underwater" just got a reprieve that will allow them another year to do so. The Federal Home Financing Agency announced Monday that its Home Affordable Refinance Program (HARP), which was originally set to expire on June 30, 2010, will be extended to June 30, 2011. HARP, [...]