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California Mortgage News is an EIN News Service for banking industry professionals. Constantly updated news and information about California Banking.
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Latest California Mortgage News

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  • McClatchy-Tribune0News Service 21 Nov 2009 00:46 GMT
    ... the means to survive the upturn.'' When banks aren't sure about who will survive and ... Health care facts to take to the bank In the midst of all the politicking ... more Americans to fall behind on their mortgage payments in the third quarter, leading to ...

  • New Market Rates Insight Analysis Shows January 1 Mandatory FDIC Deposit-Rate Cap Will Have Most Imp 21 Nov 2009 14:32 GMT
    ... and fees for financial institutions, found that banks which are less than well capitalized, will ... maximum rate that a less than well-capitalized bank can offer in any market, to the ... loans, and fees. MRI uses deposit surveys, mortgage and consumer loan surveys, fee and feature ...

  • Homeowners May be Able to Prevent Foreclosure through Mediation Program 21 Nov 2009 08:51 GMT
    ... has been hit hard by the subprime mortgage disaster. As unemployment rates in the state ... rates, joining ranks with Nevada, Florida and California. By the end of June 2009, 1 ... must be tapped to act as mediators. Banks and other lenders also will have increased expenses ...

  • Easy Loans in Expensive Areas 21 Nov 2009 04:32 GMT
    ... support of real estate, including guaranteeing the mortgages of middle-class and even upper-class buyers against ... than 4,400 F.H.A. loans were made in California, according to the research firm MDA DataQuick, ... wealth do not feature stock options. “We’re banking on real estate,” said Mr. Kurland, 24. ...

  • It's the loan-to-value ratio, stupid! 21 Nov 2009 11:32 GMT
    ... homes in 2007 were secured by prime mortgages, and foreclosure rates on these notes grew ... Currently, 13 states, including Nevada, Arizona and California, actually outlaw recourse notes on homes. Feldstein ... example, the political clout of a state’s banking sector and the populist reaction to it ...

  • Risk-Retention Measure Could Help Heal CMBS 21 Nov 2009 02:17 GMT
    ... contribute substantially to recovery in the commercial mortgage-backed securities (CMBS) market has been approved by ... securitizer is packaging high-risk junk bonds, the bank regulator may want to have the originator boost ... commended Reps. John Adler, D-N.J.; John Campbell, R.-Calif.; Dennis Moore, D-Kan.; and Gary Miller, R-Calif.; ...

  • City agency's list of lenders has problems 21 Nov 2009 09:40 GMT
    ... oversees disbursement of its deferred, interest-free second mortgages, it requires qualified borrowers to first work ... Countrywide Financial, which has been absorbed by Bank of America, and the now-bankrupt New Century Financial ... Century Financial — were regulated by the California Department of Corporations, which does not impose ...

  • When government auctions went online, what was for sale got lost 21 Nov 2009 04:32 GMT
    ... the creditors stiffed by the original owners. Banks tend to be the highest bidders on mortgage foreclosures, while condo associations are consistently the ... is up to the judge handling the bank's foreclosure suit to allocate it to the ...

  • Ohio AG sues credit agencies for public pensions 21 Nov 2009 08:33 GMT
    ... The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for ... have pursued credit rating agencies, after the California Public Employees' Retirement System sued the agencies ... class-action lawsuit filed in September that claimed Bank of America executives improperly concealed billions in losses ...

  • Ohio Sues Rating Firms For Losses In Funds 21 Nov 2009 01:42 GMT
    ... and Fitch were in league with the banks and other issuers, helping to create an assortment ... filed a lawsuit in state court in California in July, claiming that “wildly inaccurate ratings” ... began binging on fees from deals involving mortgage-backed securities. At the root of the problem, ...

  • Local woman denied credit, told she's dead 21 Nov 2009 05:51 GMT
    ... A local woman trying to refinance her mortgage got the shock of her life when ... the full-time attention of Howe's daughter in California. She sent letters, faxes, notarized explanations, long ... everyone knew Howe was alive, but the bank wouldn't budge without a credit report from Experian. ...

  • Woman denied credit, told she's dead 21 Nov 2009 07:30 GMT
    ... A local woman trying to refinance her mortgage got the shock of her life when ... the full-time attention of Howe's daughter in California. She sent letters, faxes, notarized explanations, long ... everyone knew Howe was alive, but the bank wouldn't budge without a credit report from Experian. ...

  • U.S. Fed boosts bank scrutiny 20 Nov 2009 17:13 GMT
    ... Mack says he likes the attention his bank gets from regulators. “We have probably 15 ... stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a ... highest since the 2007 collapse of the subprime-mortgage market, as investment-banking revenue helped it overcome ...

  • Fremont Bank expands into Southern California with home mortgages 20 Nov 2009 21:16 GMT
    ... , a Bay Area community bank founded in 1964, said it will expand ... California with the opening of a residential mortgage office. The new office will open in ... Brad Seibel. “With multiple Southern California community banks vanishing or being acquired by larger institutions, ...

  • Mortgage Delinquencies Reach a Record High 20 Nov 2009 14:50 GMT
    ... ever are having trouble making their monthly mortgage payments, according to figures released Thursday. Homeowners ... an event last month in Daly City, California, aimed at helping people get their mortgages ... serviced by mortgage companies, commercial and savings banks, credit unions and others. About 52 million homes ...


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