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1st Mariner Bank scores win in defamation lawsuit
A federal judge has granted 1st Mariner Bank a judgment by default in its defamation lawsuit against an out-of-state lawyer and his law firm.
Rate on 30-year mortgage declines to 3.54 pct.
WASHINGTON — Average U.S. rates on fixed mortgages fell this week and remained near historic lows, a trend that has supported a recovery in housing. Freddie Mac said Thursday that the average rate for the 30-year loan fell to 3.54 percent from 3.63 percent last week. That’s near the 3.31 percent reached in November, which […]
Md. homeowners have received more than $220M from mortgage settlement
Maryland Attorney General Doug Gansler says Maryland homeowners have received more than $220 million so far from a national mortgage settlement. Gansler said Wednesday that 2,825 Maryland homeowners received the assistance between March 1 and June 30. The figures are part of an initial progress report. Maryland’s share of the $25 billion national mortgage settlement […]
Robert Nusgart: Cash-out refinancing has all but vanished
In the last couple of years there has been a frenzy of home owners who have refinanced. Not just once. Maybe twice. Even three times. They’ve lowered their rates. They’ve lowered their monthly payments. They’ve lowered the number of years on the mortgage. But one thing they haven’t been able to do as much is […]
Rate on 30-year mortgage falls to 3.98 percent
WASHINGTON — The average U.S. rate on the 30-year fixed mortgage was mostly unchanged this week, as the cost of home-buying and refinancing stayed near record lows. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell slightly to 3.98 percent from 3.99 percent last week. In February, the rate touched […]
Scardelletti, Weisman join Embrace Home Loans
Anthony Scardelletti and Seth Weisman have joined Embrace Home Loans’ Rockville office as senior officer and senior loan officer, respectively. Scardelletti, of Potomac, has more than 16 years of experience in the mortgage industry. He was previously a partner at Washington Capitol Financial Corporation as well as owner of his own mortgage company. Weisman, of […]
Robert Nusgart: FHA refinancing plan doesn’t go far enough
They still don’t get it. A couple of weeks ago, with much fanfare, the Obama administration rolled out a new program that would allow FHA borrowers who settled on a home before June, 1, 2009, to refinance to current lower mortgage rates without having to essentially pay the required one-time upfront mortgage insurance premium and […]
Average rate on 30-year mortgage dips to 3.88 percent
WASHINGTON — Fixed mortgage remain a bargain at the start of the spring-buying season: The average rate on the 30-year mortgage dipped last week, while the 15-year loan fell to a new record low. Mortgage buyer Freddie Mac says the rate on the 30-year loan ticked down to 3.88 percent, from 3.90 percent the previous […]
Rate on 30-year mortgage rises to 3.95 percent
WASHINGTON — The average rate on the 30-year fixed mortgage jumped after standing pat for three straight weeks at record lows. But the rate stayed below 4 percent for the 12th straight week, keeping home-buying and refinancing attractive for those who can qualify. Mortgage buyer Freddie Mac said Thursday the rate on the 30-year loan […]
Rate on 30-year fixed mortgage falls to 3.98 pct.
WASHINGTON — The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing. Freddie Mac says the rate on the 30-year fixed loan fell to 3.98 percent from 4 percent the previous week. Seven weeks […]
Realities of Real Estate: The human side of housing
When we go to a closing, the settlement officer often explains to the buyer the terms of their mortgage and the buyer’s responsibilities regarding their loan. In a nutshell, you usually hear those terms described with this phrase, “If you pay you stay, if you don’t you won’t.” For people who get behind on their […]
Obama offers mortgage relief on Western trip
President Barack Obama is offering mortgage relief to struggling homeowners in hard-hit Nevada and around the country — saying he can’t wait for an “increasingly dysfunctional Congress” to act. The president said Monday that “where they won’t act, I will.” He made the comments in remarks prepared for a stop in Las Vegas as he […]
