Christine's Loan & Loan Modification Blog

Mortgage and Lending - American Capital Corporation
This blog is for informational purposes regarding California, Orange County, Los Angeles, San Diego, Riverside, San Bernardino Home Loans. It also includes information about loan modifications. None of the information on this site is provided as legal advice, and all loan modifications including California loan modifications are referred out to Attorneys. This site is a site of opinion only.
In an effort to respond to the outrage over the record profits and bonuses being paid out to executives of financial institutions that received TARP bailout funds, President Obama has announced his support for a tax on the liabilities held by financial institutions that hold more than $50 billion...
  Good loan modification news from Bank of America! According to the bank, the number of permanent modifications the bank holds with HAMP has jumped from just 98 as of November 2009 to 3,200 as of this month.   The reason for this jump is that the bank has decided to place more emphasis on pushin...
  Again, here are some more numbers provided by the Home Affordable Modification Program. This chart shows the numbers of loans, by bank, currently in the HAMP program. Keep in mind this list is from November 09.      Servicer                              GSE                            Private   ...
Here's some more information gleaned from a HAMP report from Nov 2009. Here you can see how the number of loan modifications that hve been processed has skyrocketed since the federal HAMP progam has gotten started, along with the less than adequate success rates of the banks so far.
  Pulled this from a Nov 2009 HAMP report   HAMP Activity by State as of November 2009 Alabama 5,086 Montana 982 Alaska 439 Nebraska 1,238 Arizona 37,208 Nevada 19,247 Arkansas 2,055 New Hampshire 3,301 California 148,350 New Jersey 24,299 Colorado 10,574 NewMexico 2,506 Connecticut 9,327 New Yor...
Real Real Estate Settlement Procedures Act (RESPA) MoratoriumHUD recently announced a 120-day moratorium on the new RESPA rule scheduled to go into effect January 1, 2010 - provided good faith efforts are being made to comply with the new rule. Neither the effective date of the rule nor the oblig...
  According to the Mortgage Brokers Association, overall loan originations and home sales are all set for a drop in 2010. The MBA is expecting a 39% decrease in mortgage refinance originations.  The reasons for the large projected falloff is the nation’s continued unemployment, accompanied by the...
  Today the Department of Housing and Urban Development announced its plan to begin investigations of 15 mortgage servicers which have had particularly high default rates on FHA backed loans.   Since these mortgages are backed by the federal government via insurance, it essentially means the gove...
  Some say interest rates will rise over the coming months as the Feds Mortgage Backed Security Program will end March 30, 2010. As part of the economic stimulus plan, the Federal Treasury has been purchasing mortgages in order to free up capital that was supposed to be lent out to the consumers ...
  The latest news from Orange County, California is that the Second Lien Program for HAMP is moving forward. There have been some delays and the program was placed on hold for a while, but it looks as if the Treasury is ready to move forward with the program.   According to Bill McBride, a blogge...

Christine Hynes

Orange County Senior Loan Consultant
local_phone(877) 700-2567
smartphone(949) 632-4019
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