Home refinance has been given a bad name in recent years by individuals who have refinanced their property only to sink further into debt. It is important that homeowners realize that this is the exception rather than the rule. When done properly, refinancing a mortgage can be a tremendous advantage. They key is to.. (more…)
Every time you mention the possibility there is always going to be someone there telling you that you shouldn’t refinance your home, and up to today you’ve always listened to what they had to say. Today’s the day to stop listening and make your own decisions! While all of those nay-sayers undoubtedly had the best … (more…)
Webster Bank N.A. will reorganize its mortgage banking unit, its parent company announced. As a result of the changes, the company will close its wholesale lending operations, the statement said. In addition, the correspondent channel will be closed down. (more…)
Ace Securities Corp. saw $243 million in classes of 2006-SL2 downgraded by Fitch. Changes to Fitch’s subprime loss forecasting assumptions led to downgrades on $145 million in classes of HASCO Series 2007-HE2, whole another $648 million was placed on Rating Watch Negative. The forecasting changes also led Fitch to downgrade $974 million of classes from Securitized Asset Backed Receivables Series 2007-BR2 and place another $974 million on negative watch. Two SASCO deals from 2007 were also impacted by Fitch’s changes, with $338 million in classes downgraded and $747 million placed on Rating Wat (more…)