St Louis Mortgage Broker and Refinancing: Freddie Mac In Serious Trouble

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St Louis Loan Reduction and Mortgage Lending News: Freddie Mac's Delinquencies Climb
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage and Loan Modification Consultant

Freddie Mac's 90-plus day delinquency rate increased for the first time since February, according to the government sponsored enterprise's monthly summary.

The delinquency rate for single-family residences was 3.82 percent in October, up from 3.8 percent in September according to St Louis mortgage refinancing experts.

The delinquency rate for multifamily properties also increased, up to 0.44 percent in October from 0.35 percent.

However, this is the second consecutive monthly increase in delinquencies on this type of property.

One year ago, the delinquency rate for single-family residences backed by Freddie Mac was 3.65 percent and 0.18 percent for multifamily properties.

That constitutes a 4.6 percent yearly increase in single-family delinquencies from 2009 and a 144.4 percent yearly increase in multifamily delinquencies.

The 2007 vintage accounts for the most delinquencies, as 0.64 percent of these loans are between 60 and 90 days delinquent and 0.95 percent are more than 90-days delinquent.

A total of 12,763 loans originated in 2007 are delinquent on Freddie Mac's books.

Freddie Mac's weekly mortgage rate survey indicated the rate for a 30-year fixed-mortgage rate increased for the first time in two months, up to 4.39 percent.

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When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

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St Louis Home Mortgage Lending: Foreclosure Epidemic Scares Home Buyers

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St Louis Mortgage and Real Estate News –

St Louis Loan Audit and Finance News: Foreclosure Fiasco Scares Off Potential Home Buyers
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The ongoing controversy surrounding foreclosures is taking its toll as home buyers refused to look at distressed properties in October, and foreclosure sales suffered from delays, according to the latest Campbell/Inside Mortgage Finance Monthly Survey.

Both the share of home purchases involving distressed properties and average prices for foreclosed

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St Louis Home Loan Mortgage and Principal Reduction Program: Is HAMP Dead

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St Louis Refinancing and Loan Reduction News: HAMP May Finally Be Finished According To Housing Regulators
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Loan Modification
 

“It’s safe to say that HAMP isn’t meeting its goal of preventing foreclosures,” Representative Maxine Waters said at a House Financial Services subcommittee hearing after the Treasury provided a preview of a report by the U.S. Treasury Department.

According to the report, homeowners are dropping out of the Obama administration’s foreclosure

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Loan Reduction and St Louis Lending: Class Action Lawsuits Facing Banks

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sSt Louis Finance and Commercial Loan Modification News: Class Action Lawsuits Hitting Banks Hard
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage

Foreclosure-fraud class action lawsuits piling up against major banks across the United States is threatening a besieged industry with billions more in potential losses.

The class actions, which could be expanded nationally, seek damages for homeowners whose

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St Louis Loan and Refinancing: Home Improvement Returns Low

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St Louis Finance and Mortgage Broker News: Home Improvements and Remodeling No Longer Pays
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage
 

 According to Remodeling magazine's 2010 Remodeling Cost versus Value survey, done in partnership with the National Association of Realtors (NAR), renovations returned a lower percentage of its costs in added home value this year than it did in 2009.

In general, anyone planning home improvements will pay a lot more for the job than they will get

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St Louis Mortgage and Commercial Loan Modification: Lawsuits Increase

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St Louis Finance and Loan Audit News: Lawsuits Against Banks Increasing At Alarming Rates
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage

 At the close of the year, December 2010 brought no good news to some of the largest banks nationwide.

JPMorgan Chase, PNC Financial, and Ally Financial disclosed suits in a growing number of banks under investigation by state and federal officials for sloppy or even fraudulent foreclosure paperwork not to mention mortgage origination snafus.

All mentioned banks face lawsuits

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Principal Reduction Program: Home Prices Dropping Again

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Modification News: Will Home Prices Drop Another 8 Percent?
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 In a shocking prediction, Fiserv, a market analytics company, has scaled back its home price projections considerably.

In February, it forecast national price gains of about 4 percent through the end of 2011 according to principal reduction program specialists.

The company's latest prediction is for

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St Louis Commercial Financing Loan: Small Business Borrowing Up

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St Louis Commercial Lending and Debt Settlements News: Small Business Borrowing Up Which May Help Economy
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage and Refinancing
 

 According to the Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, commercial lending rose 16 percent in September from a year earlier, PayNet said.

The index rose 15 percent in August, and

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St Louis Commercial Loan Modification: Loan Modifications Caused Foreclosures

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St Louis Mortgage and Real Estate News –

St Louis Loan Reduction and Finance News: Loan Mods Led To Foreclosure Mess Say Mounting Lawsuits
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(877) 334-0210 or (314) 334-0210 | Floyd Tapia, Commercial Mortgage

 Recently, Federal Treasury statistics showed that only about one-third of the nearly 1.4 million homeowners accepted into the government's payment or reduction program over the past year have had their loan modification or loan reductions made permanent.

Several federal lawsuits filed in Boston accuse major lenders of breach of contract under the

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St Louis Home Loans: Growing Risk At Ginnie Mae

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St Louis Finance and Loan Modification News: Ginnie Mae Pools Raising Investor Concerns
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Loan Modification

Barclays Capital notes that the amount of previously delinquent and now-cured mortgages in Ginnie Mae pools are raising investor concerns.

According to St Louis home loans experts, this move is largely due to the fact that there is a higher probability of redefaults and spotty performances from individual servicers.

Ginnie Mae does not buy or sell loans or

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