Bank of America may finally be returning to health. » Read more…
Tag Archives: economic recovery
GMAC Reports First Profit Since ‘08
Posted by MORTGAGE BLOG NEWS on March 4, 2011
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GMAC Financial Services posted a first-quarter profit, its first time in the black since 2008, on higher net interest margin, gains on asset sales, improved servicing income and a significantly lower loan-loss provision. » Read more…
Freddie Mac: Mortgage rates at lowest level of the year
Posted by MORTGAGE BLOG NEWS on March 4, 2011
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Long-term mortgage rates fell to the lowest level of the year this week, after dropping for five consecutive weeks. » Read more…
Mortgage Foreclosures Hit Record as Job Losses Strain Budgets
Posted by MORTGAGE BLOG NEWS on March 4, 2011
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A record share of U.S. mortgages were in foreclosure in the first quarter as job losses caused homebuyers to fall behind on monthly payments, thwarting government efforts to stem property seizures. » Read more…