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Mortgage Applications, Home Refinancing Surge in Florida

Mortgage Applications, Home Refinancing Surge in Florida

The Mortgage Bankers Association’s (MBA) latest statistics showed a 189 percent increase in Florida mortgage applications, the third-highest increase behind Arizona and Nevada.Based on the MBA’s stats, the biggest reason for that huge increase in applications was refinancing – recently, 74 percent of Florida mortgage applicants desired to refinance, as opposed to 48 percent this year. Refinancing became a much more significant factor, based on MBA Vice President of Research and Economics, Michael Fratantoni, because of...

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Lawmakers working to streamline mortgage refinancing for homeowners

Lawmakers working to streamline mortgage refinancing for homeowners

Momentum is building within the Senate behind a bill that will streamline refinancing for homeowners as lawmakers work toward a contract that could lead to passage through the August recess.Time is running short as Senate Banking Committee members attempt to reach a deal on amendments that will ensure the legislation remains narrowly tailored for making changes to the Home Affordable Refinance Program (HARP). The streamlined bill aims to assist homeowners who are current on their own payments and have loans through Fannie Mae and...

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Home Refinancing Boosts Florida, Nevada: Economy

Home Refinancing Boosts Florida, Nevada: Economy

The key is to have income to do some additional things,” said Fuller, 65, who’s also planning more weekend trips round the state. Fuller took benefit of the government’s Home Affordable Refinance Program, that allows the refinancing of homes worth under their mortgage.The mixture of easier lending standards and record-low home loan rates is beginning to shore up areas in states where house values plunged. It has breathed new life into some regional economies as Americans spend the savings at malls and auto dealers, spurring...

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50% Bill Payment Reduction With Loan Refinance Offer

50% Bill Payment Reduction With Loan Refinance Offer

The popular consumer finance has announced financing refinance program on offer that can reduce peoples bill payments up to 50%. Qualified partners are now being invited to review the sale details and make contact with a debt analyst immediately for fast relief. American people are struggling with debt and also the loan servicing costs for high interest credit cards, car loans along with other lending obligations are consuming budgets, based on the site. “Consolidating high interest debt to lessen payments and buy the additional...

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Wells Fargo Says DOJ May Seek Penalties Over Fair Lending

Wells Fargo Says DOJ May Seek Penalties Over Fair Lending

Wells Fargo & Co. (WFC), the biggest U.S. mortgage company, said federal prosecutors may seek damages and penalties after investigating whether or not this violated anti- discrimination laws while financing homeowners. “The Department of Justice has advised Wells Fargo it believes it can bring claims,” the financial institution said today inside a regulatory filing, without elaborating on potential allegations. “We believe such claims shouldn’t be brought and continue trying to demonstrate to the Department of Justice our...

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