The best part of the housing bill signed by President Bush on July 30 was the section that establishes new regulations for mortgage loan originators. The regulations require all mortgage originators to be screened, educated, tested and licensed. The law also created a national registry of loan originators. And it won’t cost the taxpayers a [...]

U.S. mortgage market giant Freddie Mac’s chief executive dismissed internal warnings that could have protected the company from some of the financial problems now engulfing it, the New York Times said, citing more than two dozen current and former high-ranking executives and others.
In 2004, Chief Executive Richard Syron received a memo from Freddie Mac’s [...]

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 [...]

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 [...]

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 [...]