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Alternative mortgage lenders are changing home buying
http://www.csmonitor.com/Business/Saving-Money/2016/0110/Alternative-mortgage-lenders-are-changing-home-buying
Alternative mortgage lenders are changing home buying If you're looking for a mortgage, there's one less reason to walk into a bank these days. Alternative mortgage lenders — non-bank companies without customer deposits — are transforming the mortgage industry. Their goal: To offer mortgage rate

Big banks retreating from home loan business
http://www.cnbc.com/2016/01/19/big-banks-continue-retreat-from-mortgages.html
Big banks retreating from home loan business Bank of America on Tuesday reported lower mortgage banking income for the fourth quarter, both year over year and compared to its third quarter. A highlight might be that the company generated more income on an annual basis from mortgage banking; 

Another big bank settlement will pay Delawareans
http://www.delawareonline.com/story/news/local/2016/02/05/bank-settlement-hsbc/79895394/
Another big bank settlement will pay Delawareans About 240 Delawareans could get payouts from mortgage firm HSBC and others could see their mortgages restructured because of a new multi-state settlement with the company connected to the 2007 mortgage crisis. Attorney General Matt Denn announced 

UK bad bank scraps plan to sell mortgage process unit
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/12134606/UK-bad-bank-scraps-plan-to-sell-mortgage-process-unit.html
UK bad bank scraps plan to sell mortgage process unit By outsourcing the servicing unit “we significantly reduce the risk of losing our best people, of not understanding the products and of giving poorer service as a consequence.” In contrast with UKAR, Computershare can also run mortgages for other lenders.

Sue Your Bank, Mortgage Company Realtor, Trash Out Companies - Learn How for FREE!

Hit them where it hurts! If you've been fooled, lied to and abused by your bank and mortgage company, then it's time to strike back. The ...

Homeowners have more equity than ever but don't want to tap it

Homeowners are sitting on a record amount of equity, but this time they’re stubbornly reluctant to borrow against it.

Strong home price appreciation has handed Americans more than $5.8 trillion of equity they could be tapping and aren’t, more than double the level in 2011, according to data provider Black Knight. At least part of that reluctance stems from rising rates, which means debt carrying adjustable rates will keep growing more expensive.

Last decade’s mortgage crisis has likely made consumers hesitant, too. Home prices fell 35 percent after the bubble burst, leaving many borrowers owing more than their house was worth. People who tapped their equity to pay off their credit cards ended up struggling to meet their obligations, said Dan Alpert, managing partner at Westwood Capital, a New York-based investment bank focusing on real estate.

“There’s a long-memory issue,” Alpert said. “People got caught with home equity lines last time.

10 years ago: IndyMac collapses and starts a flood of bank failures

By 2005 and 2006, for the first and only time, the dollar value of non-traditional loans such as subprime and Alt-A mortgages overtook the safer loans that Fannie and Freddie would accept.

IndyMac rode that boom.

The value of the loans it made more than tripled, from $22 billion in 2003 to nearly $90 billion three years later. A relatively small bank became the ninth-largest mortgage lender in the country, according to data from Inside Mortgage Finance.

IndyMac was growing fast by making loans to more and more questionable borrowers.

"There was a rush to the bottom in terms of underwriting," said Guy Cecala, CEO of Inside Mortgage Finance.

Many of those riskier loans were made not by banks but by mortgage lenders who were getting the money to lend out by selling the loans to investors.

What made IndyMac different from many of those lenders is that it was using bank deposits to come up with the cash to make the loans.

As long as home prices kept rising, as they did while the housing bubble was inflating, there were no problems. People could sell the home and walk away with more money than they owed. Once the bubble burst and prices started to decline, loan defaults started to mount.

Can you sue a bank or mortgage company for running your credit report without a signature?

Can you sue a bank or mortgage company for running your credit report without a signature?


no, they have a legitimate need to know your score, since you are seeking a loan.