Matching a statewide trend, more Santa Clara County homeowners fell behind on their mortgage payments in the second quarter of this year than during any quarter on record, a real estate information company reported today.
Mortgage lenders sent 3,751 “notices of default” to homeowners in the county in the April-to-June period, according to DataQuick Information Systems. [...]
Problems in the lending industry have caused great worry (both legitimate and paranoid) for prospective Real Estate consumers. But today there is some great news for the second largest mortgage lender in the country, and great news for the economy in general. According to an MSN money article dated July 16, 2008, Wells Fargo is [...]
Imperial Capital Bancorp has made a big bet on mortgage-backed securities that it thinks will pay off despite the current banking crisis.
The La Jolla-based bank said this week that so far this year it has purchased $784 million in collateralized mortgage obligations, which are complex debt securities backed by mortgages.
The move is a change in [...]
JPMorgan Chase & Co.’s losses in prime mortgages rose “dramatically” in the second quarter, Michael Cavanagh, the company’s chief financial officer, told reporters in a conference call Thursday morning.
Cavanagh said that capital markets will stay “challenging” this year and that the company reported no gain in the second quarter from its acquisition of Bear Stearns [...]
Tamalpais Bank (NASDAQ:TAMB) today announced a strategic relationship with Petaluma-based First California Mortgage Company to immediately begin offering residential home purchase and refinance loans of up to $10 million.
Tamalpais Bank CEO/chairman/president Mark Garwood said, “We are heeding the call of Fed chief Ben Bernanke. He has suggested that community banks play a more prominent role [...]
Bank of America Corp. has completed its purchase of Countrywide Financial Corp., making the Charlotte-based bank the nation’s leading mortgage originator and servicer.
The Federal Reserve and Countrywide’s shareholders cleared the way for the acquisition last month. As of Tuesday’s close, Bank of America controls between 20 percent and 25 percent of the country’s home loan [...]