Homeowners have a strong interest in sophisticated loan products such as loan modification options and assumable and portable mortgages, according to a survey sponsored by Thornburg Mortgage Inc., a Santa Fe, N.M.-based residential lender.The nationwide survey revealed that when asked if they would "ever use a loan product that let them change the terms of their loan without refinancing" -- a loan modification option -- nearly three-quarters of homeowners participating in the survey (74%) indicated that they would. Nearly six in 10 homeowners (59%) said they would use a loan that let them "transfer their current mortgage to a new property" -- a portable mortgage -- and 56% said they would use a loan option that let them transfer their mortgage to a buyer -- an assumable mortgage, Thornburg reported. Thornburg, which focuses mainly on the jumbo segment of the adjustable-rate mortgage market, can be found online at http://www.thornburgmortgage.com.
-
The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.
November 1 -
The wholesale lender filed a motion to dismiss the case, or at least to strike the class action certification in mid-October.
November 1 -
Remax, the real estate brokerage and mortgage broker franchisor of Motto Mortgage, rebounded from a year ago loss in a tough news cycle for both its businesses.
November 1 -
Economists cautioned that October's employment report may not provide a fully accurate representation of the economy due to recent hurricanes.
November 1 -
HomeStreet and FirstSun are working to devise a new formula after the Texas Department of Banking and the Federal Reserve declined to approve their merger application.
November 1 -
Former Treasury Secretary Steven Mnuchin and his investment firm Liberty Strategic Capital are seeking to more than double his indirect ownership stake of Flagstar Financial — formerly New York Community Bank — to 22.9%, according to filings obtained by American Banker.
November 1