Depositions by three employees of Nationwide Title Clearing describe a factory-like process that’s awful to look at. But Nationwide defends the system as being benign as sausage-making — and that it’s standard industry practic…
Demand for mortgage loans rose last week, driven by low interest rates.
The Mortgage Bankers Association said its Market Composite Index rose 5.8% on a seasonally adjusted basis from a week earlier. The index measures the volume of applications for loans. Demand for loans for new homes gained 5.5%, while the number of applications for loans to refinance rose 6%.
“The increases in…
Continue reading Mortgage Applications Rise, Thanks to Low Interest Rates
Mortgage Applications Rise, Thanks to Low Interest Rates originally appeared on DailyFinance on Wed, 10 Nov 2010 08:21:00.
Filed Under: Economy, Real Estate, Credit
In a regulatory filing, Goldman said it’s reviewing loan practices at Litton Loan Servicing, the firm’s residential mortgage-servicing subsidiary, in response to requests from regulators and states attorneys general.
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One major battleground over how robo-signed documents will be treated is the courtroom of Ohio state court judge Nancy Margaret Russo. She had ordered GMAC to appear before her on Monday to provide her with “proof of integrity …
Last month, the New York court system started requiring banks filing foreclosure cases to submit special sworn statements aimed at eliminating robo-signing. Now the judges in Cuyahoga County, Ohio, which includes Cleveland, are…