Review Mortgage Lenders

American Federal Mortgage


A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl ...

UBS sued by US for fraud tied to mortgage-backed securities

The suit relates to 40 of those RMBS securities which UBS "sponsored, issued, underwrote, managed or offered," according to federal prosecutors in Brooklyn, NY.

UBS got ahead of the suit Wednesday, releasing a statement that it expected to be sued and will fight the case. "The DOJ's claims are not supported by the facts or the law," UBS said.

According to the U.S., UBS securitized more than $41 billion worth of mortgage loans in the deals which proved to be "catastrophic failures," according to the complaint. It's unusual for a big bank to fight a case by the Justice Department in court rather than negotiating a settlement, but it's a gamble that paid off for Barclays.

In 2016, the British bank broke off settlement talks — also over RMBS sales — with the Justice Department, which was seeking a $5 billion fine. Federal prosecutors in Brooklyn sued, and the bank wound up settling in March for $2 billion, the amount it had told the DOJ originally it wouldn't go beyond.

Why do we have a 30-year mortgage, anyway?

The average interest on a 30-year, fixed-rate mortgage rose just a hair this week, to 4.86 percent. That’s almost a full percentage point higher than this time last year, according to Freddie Mac. Higher interest rates are changing the home-buying equation as people weigh the costs of borrowing. In some markets, prices have even started to dip — sales, too . But one thing remains constant: The vast majority of new mortgages in this country are of the 30-year fixed variety. Ever wonder why?

“The 30-year term did not come down on a tablet, engraved, that says 30 years is the right number,” said Edward Pinto with the American Enterprise Institute’s Center on Housing Markets and Finance.

So much for the biblical explanation. The 30-year mortgage actually came about because of a housing crisis. Yeah, not that housing crisis. One in the last century. Back in the 1920s, said Cornell University historian Louis Hyman, a typical mortgage was for three to five years, with a variable interest rate, and payments covered only the interest.

American Federal Mortgage Corporation?

Does anyone have any experience with the American Federal Mortgage Corporation?

go to ripoffreport.

Оператор "Триколор ТВ" - трижды лауреат премии "Большая цифра" в категории "Компания-оператор"