mortgage bankers association

Wells Fargo 4Q Earnings Rise 11%

Wells Fargo says its fourth-quarter profit rose 11 percent as increased interest income helped offset a steep drop in mortgage lending.

Bank Errors Make Lowest Interest Rates Harder to Land

Borrowers looking to capitalize on historically low interest rates to refinance or buy homes are discovering those rates are often out of reach -- and not necessarily because of their credit scores. Understaffed banks, rigid rules, and low-ball appraisals are costing customers the best deals.

How to Raise Your Odds of Getting a Mortgage

It doesn't look like the housing market will come roaring back anytime soon, but with historically low interest rates, now's a good time to buy. The hard part is that banks in the post-bubble era are notoriously stingy with that cheap money, so figuring out how to get a smile out of a mortgage lender is task No. 1.

New Mortgage Applications Hit Highest Level Since May

The number of applications for mortgages to buy homes rose to the highest in six months last week. The Mortgage Bankers Association (MBA) Purchase Index rose 14.4% from a week earlier, the association said. No adjustment was made for Veteran%u2019s Day, which occurred in the previous week.

The Foreclosure Mess Is Potentially Devastating

The Congressional Oversight Panel created in the wake of TARP to oversee and monitor the Treasury Department has issued a devastatingly clear report about the mortgage mess and its legal implications, which are ugly.

Mortgage Applications Rise, Thanks to Low Interest Rates

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.

What's Behind the Drop in Mortgage Applications?

The Mortgage Bankers Association said mortgage applicatins dropped 10.5% last week, the biggest drop in four months. Elsewhere -- housing starts and homebuilder confidence -- signs are more hopeful. But the mortgage mess could be a spoiler.

How Much Will Foreclosures Hurt Big Banks?

The current mortgage crisis could hurt bank earnings in several ways, not all of them directly related to the foreclosure problem. One big risk is "putbacks," the faulty loans banks could be forced to repurchase. JPMorgan puts that cost at up to $120 billion.

The Consequences of the Foreclosure Crisis

Even as the impact of the ongoing foreclosure crisis slowly unfolds, it's not too early to tote up a list of 10 potentially important developments that have already happened. None bodes well for the U.S. housing market, banks or economy.

Mortgage Applications Drop 1.4%

Mortgage applications fell 1.4% in the week ending Sept. 17, dragged down by a decline in the number of applications for loans to purchase houses. Applications for loans to purchase a home dropped 3.3% from a week earlier on a seasonally adjusted basis, The Mortgage Bankers Association said. Applications for loans to refinance a home dropped 0.9%.