Last week I posted a Bloomberg news article supporting my suspicions that investors are putting bad loans back to the banks at an increasing rate. I used JP Morgan as a specific example -BanksSwallow Another $30 billion or So in More …
The refinance share of mortgage activity decreased to 67.2 percent of total applications from 69.1 percent the previous week. The refinance share is at its lowest level since it was 66.1 percent in October 2009. …
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The Wall Street Journal ran a big story on Wednesday about how homeowners are missing out on big savings because people can’t qualify for mortgage refinancings. This sounds like a tragic twist in what has been a humdinger of a bear …
Rates retreated a bit and refi applications surged as homeowners prepare for higher rates.
The report says: “The last few years have seen a steady decline in the number of mortgage fraud cases that have been identified. Declining house prices had the effect of deterring serious fraudsters from attempting to obtain property …
It’s most encouraging to find that judges appear to be disinclined to let lenders run roughshod over homeowners, and are finding new and creative solutions to allow homeowners to bargain with creditors to modify their loans.
Ask anyone to define the “American Dream” and almost surely, the reply will be: “owning a home.” And for good reason – a home is equal parts family sanctuary and financial cornerstone.
What about the Canadian banking system allowed it to survive the recent worldwide slowdown without a single bank failure? What can the United States learn from Canada about sound banking?