Lending

MCLEAN, Va. - Nearly half - 45% - of loans owned by Freddie Mac that were refinanced in the fourth quarter 2003 resulted in new mortgages at least 5% higher in amount than the original mortgages. This compares, Freddie Mac's quarterly refinance review shows, to an upwardly adjusted 34% of...

WASHINGTON - The Department of Housing and Urban Development will use the Internet on Feb. 27-28 to sell up to 4,000 homes it acquired through foreclosure throughout the continental U.S. HUD plans to publicize the auction in major newspapers around the country and use special procedures in listing homes for...

WASHINGTON - Treasury Secretary John Snow is scheduled to testify Sept. 4 in front of the House Financial Services Committee on the regulatory structure of the housing government sponsored enterprises Freddie Mac and Fannie Mae. Committee members are expected will ask Snow to comment on suggestions that regulation of the...

BIDDEFORD, Me. -The more than 14,000 members of St. Joseph's Credit Union who are interested in applying to the credit union for a mortgage can now file an application 24/7 and get almost instant approval - without ever speaking to a loan officer - by accessing MortgageClickT from the credit...

WASHINGTON - The Senate Banking Committee has tentatively scheduled a hearing July 22 to consider the nomination of Mark Brickell to supervise Freddie Mac and Fannie Mae. The Brickell confirmation hearing would become the fourth congressional hearing scheduled on the government sponsored enterprises in the wake of Freddie Mac's accounting...

AMARILLO, Texas - Amarillo Community FCU reached an agreement with Irwin Mortgage Corp. for the residential mortgage lender to facilitate mortgages for the $90.5 million credit union. Irwin Mortgage will have a trained mortgage professional on-site at Amarillo Community FCU's main office. The company will originate mortgages and service them...

ATLANTA - Delta Employees CU, the largest credit union in Georgia, has reached an agreement to use CU National Mortgage to implement the Prime Alliance mortgage solution on the $2.4-billion credit union's Web site. "Our members work in all time zones, live all across the country, and expect premier service...

ROCKY HILL, Conn. - With only a little more than a month left to go until the end of 2002, executives at Integrated Loan Services (ILS), a unit of Fiserv Inc., compared notes and came up with their list of forecasts for the mortgage-lending environment in 2003. These are some...