Carly Neals applied in May 2010 with PNC Mortgage (?PNC?) to refinance the mortgage loan on the home she owns jointly with her husband in Wexford, PA. Neals is the mother of three children, the youngest was born on June 21, 2010, and PNC determined, based on Fannie Mae?s underwriting guidelines, that her request to borrow 90% of the value of her home required private mortgage insurance.
Published News » Home Mortgage
MGIC Settles Historic Mortgage Insurance Case Involving Maternity Leave
Posted by mortgage 19 days ago (Editorial)
Calculate the money you need to buy a home
Posted by mortgage 12 days ago (Editorial)
You spend a lot of cash when you buy a home. The down payment for your mortgage is only one expense. There are other outlays: appraisal, inspection, deposit, cash reserves and more. The costs add up."How ...
Ally story reaches Ch. 11
Posted by mortgage 6 days ago (Editorial)
Four years after the housing meltdown rocked the economy, the markets are still reeling from the aftershocks. The nation?s largest home-mortgage servicer, Ally Financial, is delivering another blow to the still-fragile financial system by placing ailing lending arm Residential Capital into bankruptcy. ResCap was set to file for Chapter...
?NeighborhoodLIFT? Program to Boost Florida Housing Market with $30 Million Investment
Posted by mortgage 9 days ago (Editorial)
Wells Fargo & Company , one of America?s leading community banks and the nation?s largest home mortgage lender, today announced that the NeighborhoodLIFTSM program, a major effort to help stabilize neighborhoods deeply affected by the foreclosure crisis, is coming to Florida.
Best Tax Deductions On Chopping Block?
Posted by mortgage 16 days ago (Editorial)
Should American taxpayers worry they?ll lose hallowed tax deductions like home mortgage interest, charitable contributions, state taxes or pension plan contributions?
Fannie, Freddie are set to reduce mortgage balances in California
Posted by mortgage 12 days ago (Editorial)
The mortgage giants sign on to Keep Your Home California, a $2-billion foreclosure prevention program, after state drops a requirement that lenders match taxpayer funds used for principal reductions. As California pushes to get more homeowners into a $2-billion foreclosure prevention program, some Fannie Mae and Freddie Mac borrowers may see their mortgages shrunk through principal reduction.
Mortgage-aid revisions paying off for lenders and some borrowers
Posted by mortgage 11 days ago (Editorial)
Changes to streamline the Home Affordable Refinance Program are helping some underwater homeowners get lower-interest loans. Those still-above-market rates, meanwhile, are boosting banks' profits. A newly streamlined government plan to reward homeowners who diligently pay their underwater mortgages is proving a bonanza for banks, which by one estimate may pocket $12 billion in extra revenue b
Mortgage Lender Residential Finance Corp. Explains Benefits of HARP 2.0
Posted by mortgage 3 days ago (Editorial)
When June Snow first looked into refinancing her interest-only mortgage, she was told it would be impossible because the value for her three-bedroom, two-bath ranch style home was not in the necessary range.
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