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American One Mortgage - News

New mortgage rules are mixed blessing for borrowers
New mortgage rules are mixed blessing for borrowers One of the chief elements of the Dodd-Frank Act, passed in 2010 to bring greater regulation to the banking industry, the new rules require lenders to verify that borrowers have good credit and will be able to maintain payments. . But those changes

Time to Quit Mortgage Banking?
Interest Rate Risk: Mortgage rates have been dropping for 30 years, and it's a good bet that they've already hit their bottom with only one direction to go. Mortgage banking operators always claim to be fully hedged, but sudden spikes in interest rates

The Tale of a House, and an Entire Market
One of them, at 12204 Backus Drive in Bowie, Md., was a four-bedroom colonial with a bay window. The average home price that year was $150,000; this house, in a desirable middle-class suburb of . They are joined in that belief by a vast majority of

Canadian versus US mortgages
They'd love to be rid of the borrower-friendly 30-year fixed mortgage, but also rid of regulations that would prevent them from piling on to borrowers in so many other ways. They don't want an improved system in the U.S., just one that's better for

Lewis Black on Broadway talking about how America ISN'T #1

This is the truest thing Lewis Black has ever said.... which is why it's so damn funny.

Why HSBC is getting back into mortgages | American Banker

You could be forgiven for wondering if this is a weird time for HSBC to get back into U.S. mortgage lending.

Though the economy is strong and unemployment is low, industry observers are also watching for hints of the next crisis, and interest rates are creeping back up while housing markets in some parts of the country suffer inventory shortages.

On the other hand, millennials are also entering their prime earning (and borrowing) years and are driving growth in the 13.6 million new households expected to form between 2015 and 2025. That’s one big reason Raman Muralidharan, HSBC’s head of mortgage in the U.S., thinks it’s a good time to jump back into the mortgage business.

“People are waiting to buy homes when it’s the right time in their overall lives to buy homes, and there are a lot more people moving into that time in their lives,” he said. “We’ve been positioning our business to take advantage of the market becoming much, much more purchase-oriented.

Senate bill would diminish mortgage disclosures by banks

Buried within new Senate legislation to roll back restraints on banks is a provision that would exempt an estimated 85 percent of all U.S. banks and credit unions from new public reporting requirements


AP Business Writer

WASHINGTON (AP) — Buried within new Senate legislation to roll back restraints on banks is a provision that would exempt an estimated 85 percent of all U.S. banks and credit unions from some public reporting requirements, raising fears that discriminatory practices by lenders could go undetected.

The data that would be exempt from reporting includes the age of a loan applicant or borrower, credit score, total loan costs and interest rate. It’s new information added under 2010 legislation to data on borrowers’ financial information, race and sex, which would still be required for all banks.

Some Democratic lawmakers, community activists and low-income-housing advocates have raised the alarm over the prospect of diminished mortgage disclosures by banks. Removing the spotlight, they say, could allow lenders to unfairly deny loans or charge excessive interest and escape notice.

My daughter worked for a division of American Mortgage called ABC Direct. She lost her job when American went?

bankrupt in Aug. '07 and is unable to find a W2 form from them. After contacting a former admin person, she was given a payroll site to get her info from, but they require a password that no one seems to know.

sometimes those sites are set up with the date of birth or employee id # as the password.