Lending bill cleared for votes in House, Senate
Chillico Gazette – COLUMBUS – Consumer advocates claimed victory as a long-debated bill designed to protect home-buyers with spotty credit headed for House and Senate votes on Wednesday. A joint House-Senate committee approved the compromise bill Wednesday, clearing it
Source: www.chillicothegazette.com
Fixed-rate mortgages edge higher, ARMs tick down
Investors Business Daily – CHICAGO (MarketWatch) — Fixed-rate mortgages edged up in the week ending Thursday, but adjustable-rate loans ticked down, Freddie Mac’s weekly survey showed. But the general upward direction of rates over the last few months is showing an effect on
Source: www.investors.com
Fitch Affirms 4 & Downgrades 3 RMBS Classes from Ace 2004-HE1
Forbes – Fitch has taken the following rating actions on Ace Securities Corporation’s asset backed pass-through certificates, series 2004-HE1: — Class A affirmed at ‘AAA’; — Class M-1 affirmed at ‘AA’; — Class M-2 affirmed at ‘A’; — Class M-3 affirmed at
Source: www.forbes.com
NovaStar unit buys bank’s mortgage lending customers
Kansas City Business Journal – NovaStar Capital Inc. has bought the warehouse lending customer relationships of nBank NA for an undisclosed amount. NovaStar Capital, founded last year and based in Roswell, Ga., in suburban Atlanta, is the mortgage warehouse lending business of
Source: kansascity.bizjournals.com
Proposed law won’t end foreclosures
Mansfield News Journal – In the end, it will still be up to individual Ohioans to keep their own debts under control With more and more Ohioans losing their homes to foreclosure and finding themselves in financial trouble due to questionable loan practices.
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