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Mortgage Insider
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  • O.C. mortgage rates steady as Dow tanks
    As the Dow Jones industrials plunged under 10,000, the first time it closed below that level since 2004, mortgage rates held steady today in Orange County, said Jeff Altman, a mortgage broker with WestCal Mortgage in Orange. The best rate today on a 30-year fixed-rate loan up to the old conforming limit of $417,000 was 5.75% [...]

  • O.C. listings of distressed homes 6% off peak
    Home market watcher Steve Thomas at the recently renamed Altera Real Estate in Aliso Viejo reports that as of last Thursday the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 5,597 last week, down 53 vs. two weeks earlier or a 0.9% drop. He also notes: Since mid-July’s peak, the number of [...]

  • Three super banks to dominate O.C. lending
    So who was the biggest home lender in Orange County and the state last year? Hint: It ran a very annoying ad campaign. Another hint: Terminated with extreme prejudice. Yep, WaMu. Washington Mutual easily outdistanced Wells Fargo and Bank of America, according to our analysis of The Fed’s Home Mortgage Disclosure Act database. Countrywide, which operates under two names, [...]

  • BofA settling Countrywide?s Calif. suits for $3.5 billion
    The Associated Press reports … Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general’s office said Sunday. Borrowers stuck with Countrywide Financial mortgages that they can’t afford could see their [...]

  • Subprime nation
    Orange County may have been home to the largest subprime lenders in the country, but to really see subprime lending in action you have to go elsewhere: To traditionally poor areas like the Rio Grande Valley in Texas and to parts of Arkansas, Louisiana and Mississippi. To fast-growing exurbs and paved-over farmland like the Inland Empire and [...]


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