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"TAYLOR, BEAN & WHITAKER MORTGAGE CORP. (“TBW”) RECEIVED NOTIFICATION ON AUGUST 4, 2009 FROM THE U.S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FREDDIE MAC AND GINNIE MAE (THE “AGENCIES”) THAT IT WAS BEING TERMINATED AND/OR SUSPENDED AS AN APPROVED SELLER AND/OR SERVICER FOR EACH OF THOSE RESPECTIVE FEDERAL AGENCIES. TBW HAS UNSUCCESSFULLY SOUGHT TO HAVE THE TERMINATION/SUSPENSION DECISIONS OF EACH OF THOSE AGENCIES REVERSED. AS A RESULT OF THESE ACTIONS, TBW MUST CEASE ALL ORIGINATION OPERATIONS EFFECTIVE IMMEDIATELY. REGRETTABLY, TBW WILL NOT BE ABLE TO CLOSE OR FUND ANY MORTGAGE LOANS CURRENTLY PENDING IN ITS PIPELINE. TBW IS COOPERATING WITH EACH OF THE AGENCIES WITH RESPECT TO ITS SERVICING OPERATIONS AND EXPECTS TO CONTINUE TO SERVICE MORTGAGE LOANS AS IT RESTRUCTURES ITS BUSINESS IN THE WAKE OF THESE EVENTS. WE UNDERSTAND THAT THIS COULD HAVE A SIGNIFICANT IMPACT ON OUR VALUED EMPLOYEES, CUSTOMERS AND COUNTERPARTIES, AND ARE VERY DISAPPOINTED THAT A LESS DRASTIC OPTION IS UNAVAILABLE."...

A real estate short sale is only one of several options available to lenders when a loan defaults. It might be, however, the least painful to everyone concerned....

The third candidate to outline his plans for ending the housing market meltdown was Senator Barack Obama.

Speaking at Cooper Union in New York recently the senator addressed the need for tightening regulations and reforming the financial regulatory system as well as presenting a proposal for a second economic stimulus package.

His economic blueprint included:

I. Modernizing the Financial Regulatory System.

Senator Obama said that the government has let the special interests set the regulatory agenda and...

Also Read: Clinton Housing Plan - McCain Housing Plan

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Foreclosure is the last thing a homeowner thinks about when giving a mortgage. But it happens. We will discuss the process and some solutions to a desperate situation....

According to Freddie Mac, mortgage rates moved only slightly during the week ended March 2 and what little movement there was served only to narrow the gap between fixed and variable rate mortgages.

Freddie Mac's weekly primary Mortgage Market Survey reported that fixed rate mortgages

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Now everyone can get a free credit report - just watch your typing fingers....

Last week was a big week for news about the housing bubble and the quarterly House Price Index (HPI) report of the Office of Federal Housing Enterprise Oversight (OFHEO) released on March 1 was a good deal more optimistic about price growth than were the Census Bureau and Department of Housing and Urban Development joint report on new home sales and the National Association of Realtors existing home sales report, both issued days earlier and both showing that sales and price increases are slowing down.

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It has not been widely reported, but late in the closing session of the 109th Congress which adjourned this past weekend may have been a bit of good news for homeowners.

Buried deep within the Act at Section 419 was a one page attachment entitled "Premiums for Mortgage Insurance."

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The statistics are all over the place, but it is clear that not only are mortgage delinquencies and foreclosures skyrocketing, but millions of homeowners are "upside-down" in their mortgages.

More and more the talking heads on television have suggested that these upside-down homeowners should cut their losses and hand the bank the keys to the castle. Some have even suggested that cash-stretched and equity-poor debtors should continue paying the credit card bills even as they stop paying the mortgage. The rationale?.

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In December we published an article about a provision in the Tax Relief and Health Care Act of 2006 which was passed in the waning days of the 109th Congress (December 12, PMI Deduction Buried in the Closing Acts of Congress.)

At that time the final version of the bill was not publicly available, nor is it now, but here is an update and the news is not quite as good for the taxpayer as it first appeared.

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You can download the full 'DU Refi Plus' document in pdf format here . If you would like to link to this document, please link to http://www.mortgagenewsdaily.com/du-refi-plus.pdf DU Refi Plus TM BORROWERS YOU DO NOT HAVE TO GO TO YOUR SERVICER FOR HELP!!! (THE MEDIA IS NOT PUBLICIZING DU REFI PLUS) Before reading allow me to explain how I went about composing this reference document.... Most of what you read in this commentary is copied directly from Fannie Mae Guidelines. I aggregated all...

Could America's record balance of payments deficit with China be the solution to low cost housing? Might it even be an unprecedented opportunity to be Green?

America is buying so much merchandise from other countries, primarily China and selling so little back to them that shipping containers are actually becoming an environmental hazard. Apparently it is cheaper to manufacture new ones on the opposite side of the ocean than transport them empty back to where they originated.

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NOTE: Follow Mortgage Rates with our Daily Rate Commentary Homeowners may soon enjoy mortgage rates as low as 4.5 percent if the Treasury Department has its way. According to The Wall Street Journal 's on-line addition late Wednesday, the department is discussing a plan that would use Freddie Mac and Fannie Mae to push banks to make mortgages available at more than a full percentage point below the current levels for a 30 year fixed rate mortgage. The plan under review might lower rates to the...

Condos can offer early entry to homeownership or a welcome lifestyle for those seeking to kick back and relax. but there are a lot of issues that are unique to this type of purchase....

Whether credit scoring works for you or against you, it is probably here to stay. Understand what it does for and to you, and improve that score whenever you can....