Online loan broker E-LOAN Inc. announced it will introduce a mortgage to facilitate homebuyers purchasing as tenants in common, Bizjournals.com reported July 13. E-LOAN said it will begin offering the loan in 45 to 75 days.
The loan is expected to be a 30-year fixed-rate loan that might allow several buyers to purchase a building with […]

If you’ve got business with the Citi group I’d be getting in touch with them straight away:
(AP) - CitiFinancial, the consumer finance division of Citigroup Inc., said Monday it has begun notifying some 3.9 million U.S. customers that computer tapes containing information about their accounts _ including Social Security numbers and payment histories _ have […]

Keycorp (NYSE: KEY) has signed a deal to acquire Malone Mortgage Co., a Dallas-based mortgage company, for an undisclosed price.
The acquisition would allow Key to expand its offerings, including loans insured by the Federal Housing Administration, to clients in commercial real estate development, according to Cleveland-based Key.
Malone originates about $200 million in loans annually and […]

Troubled low income mortgage group Fannie Mae has named Daniel H. Mudd as president and chief executive officer of the company, a move hailed by industry figures as a source of direction and certainty for the embattled mortgage giant.
Mudd has been serving as Fannie Mae’s interim CEO since the board named him to the position […]

First time I’ve heard this one, but there is speculation that Wal-Mart might enter the banking business, and its all good according to MSN Money
Wal-Mart has a reputation for squeezing out Mom-and-Pop stores and other low-margin businesses, like unionized grocers.
But imagine for a moment if the world’s biggest retailer put the pricing squeeze on one […]

Looks like some serious business, particularly the amount of warnings, and lets face it, Greenspan isn’t one to give false warnings.
(AP) Federal Reserve Chairman Alan Greenspan issued a fresh call on Thursday for Congress to limit the multibillion-dollar holdings of the mortgage giants Fannie Mae and Freddie Mac, warning that their huge debt could hurt […]

New York Attorney General Eliot Spitzer is questioning some of the nation’s biggest banks in an investigation of potential discriminatory practices in setting mortgage rates and fees.
“We are looking at the HMDA (Home Mortgage Disclosure Act) data and other information that would help us understand how the loans are being priced and whether or not […]

Phoenix Savings Bank said it plans to change its name and make its first expansion out of the Seattle area, with a mortgage lending office in the Lake Tahoe market in Nevada.
The new name is Pacific Crest Savings Bank, which will be used on its three branches in Northgate, Lynnwood and Bellevue, as well as […]

Consumers living in predominantly minority neighborhoods in Milwaukee were five times more likely to end up with a higher-cost subprime mortgage than a traditional mortgage when refinancing with Wells Fargo & Co., a new study says.
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That disparity between types of mortgages was 14th highest among 42 metro areas nationwide included in the study by the […]

e heads of embattled mortgage companies Fannie Mae and Freddie Mac told Congress on Wednesday they are on the right course after accounting scandals and that they oppose limiting their combined $1.5 trillion mortgage portfolios.
Despite pressure to tighten regulation of the two government-sponsored companies, the chairman of the Senate Banking, Housing and Urban Affairs Committee […]