Posted by: cfigueira | September 13, 2010

Mortgage News

Bad Mortgage Loans Almost Behind Us?; Lending Tree vs. Zillow; More on Self-Employed Borrowers; RESPA Tolerance Defects; FHA MIP Updates –¬†2¬†hours ago

Posted To: Pipeline Press

I knew that I should have been a lawyer… Lending Tree suing Zillow? Of course, there are only 6 days until it is “Talk like a Pirate Day”. Why did the pirate go to the apple store? To get an iPatch. Arrrrrrrr arrr arrr We “only” had one bank closed Friday: Horizon Bank saw its coffee mugs become collector’s items when it was closed by the Florida Office of Financial Regulation, which appointed the FDIC as receiver, and then a “purchase and assumption agreement” was entered into with Bank of the Ozarks (Arkansas). Here is some news for folks watching bad loan write-offs. Moody’s believes that U.S. banks have written off about two-thirds of the bad loans they’re likely to face through 2011 , and that bank asset quality issues are past the peak. Moody’s estimates that U.S. banks will write off…

read more @ http://www.mortgagenewsdaily.com/channels/pipelinepress/09132010-mortgage-investor-phh-suntrust.aspx

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