Chicago Mortgage Loan News

The Latest News and Developments For
Mortgages in Chicago

Home Mortgage Latest Breaking News

• Defaults On Government-Backed Mortgages Rising NPR - Dec 02 4:42 AM A congressional committee hears testimony Wednesday on how well the Federal Housing Administration is doing. Defaults on FHA government-backed mortgages have been rising. The FHA has cracked down on one lender responsible for more than a thousand defaulted loans.
  
  
• Size of mortgages hit a new record BigPond News - Dec 02 3:10 AM The average size of new mortgage hit a record in Australia during November.
  
  
• Junk mortgages: It just gets worse CNN Money - Dec 01 6:43 AM Back two years ago when the mortgage meltdown was heating up, we wrote an article called "Junk Mortgages Under the Microscope" dissecting a particularly wretched mortgage-backed securities issue peddled by Goldman Sachs.
  
  
• Cheaper mortgages boost first time buyers Mortgage Introducer - Dec 02 3:21 AM First Time buyers made up 14% of Mortgageforce's transactions in November compared to a typical 10%. Katie Tucker, Technical Manager at Mortgageforce commented: "85% deals bounced back in November.
  
  
• Treasury steps up pressure on lenders to modify more mortgages Washington Post - Nov 30 9:00 PM The Obama administration on Monday promised tougher scrutiny of lenders participating in its marquee foreclosure-prevention effort and threatened to penalize companies that don't do enough to help struggling homeowners.
  
  

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