The News Review:
- Mortgage Lender Residential Finance Corp. Expands into Former …
- LA Land profile: Kal Wayman, “Not your mother’s mortgage broker”
- FHA Helps 400000 Families Find Mortgage Relief
- Microsoft warns of financial crisis email scams
- Homeowners have local resources for help in housing crisis
Mortgage Lender Residential Finance Corp. Expands into Former …
MarketWatch
, Oct 29, 2008 (BUSINESS WIRE) –
Residential Finance Corporation (RFC), a nationwide home mortgage
lender specializing in refinance, today announced that the company has
expanded operations in Tampa with a move to Class A office space at One
Metro Center in the MetWest International Office Park. The space was
previously occupied by IndyMac Bank, F. In the move, RFC also
increased staff by twenty-five percent.
LA Land profile: Kal Wayman, “Not your mother’s mortgage broker”
Los Angeles Times, CA
For example, I had a phone number called "Kal’s Party Line" — You would call it to find out where the party was, and at the end it would say, ‘If you need a mortgage or refinance, call Kal. " At its peak, it would receive 4,000 calls a week. I created matchbooks and gave them out to bars in Atlanta. One side had my face and the other side said, "Got Mortgage? Call Kal!" I spread 20,000 of them around bars in the city of Atlanta. I still go out and find them.
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FHA Helps 400000 Families Find Mortgage Relief
Originator Times
May 2008 – FHA helps 200,000 families refinance their mortgages since September 2007. July 2008 – FHA expands FHASecure to help homeowners with adjustable rate subprime mortgages who can no longer afford their mortgages and missed up to three monthly mortgage payments over the past 12 months. Rather than go into foreclosure, eligible borrowers can refinance with FHA and lenders can voluntarily write down the outstanding subprime mortgage principal balances. August 2008 – FHA helps 300,000 families refinance their mortgages since September 2007. October 2008 – HUD launches the HOPE for Homeowners program to refinance mortgages for eligible borrowers who are having difficulty making their payments, but, after a write-down in principal, can afford a new loan insured by HUD’s Federal Housing Administration. October 2008 – FHA helps 400,000 families refinance their mortgages since September 2007.
Microsoft warns of financial crisis email scams
Reuters UK, UK
“It’s especially troubling right now with the financial crisis,” he told Reuters in a telephone interview. “There are more and more people who are maybe in a more desperate or vulnerable situation. “We have seen an increase in some mortgage refinance type of scams. We are anticipating that they’ll become more sophisticated. “We have seen that with Hurricane Katrina, the (2004 Asian) tsunami and other natural disasters where the scammers immediately jump. ”
Fraudsters may send spam emails to consumers that ask them to pay a fee related to the collapse of a bank or financial institution, he added. “They will allege it is associated with the refinancing — so because of this bailout you’ll get a much better deal on your mortgage and all you have to do is pay this fee.
Homeowners have local resources for help in housing crisis
Visalia Times-Delta, CA
Today: The housing crisis. Not one was able to help her. “Every morning I would spend about two hours trying to find someone who could refinance me,” said Sampson, a clinical lab scientist and college biology professor. “I called people from San Diego to New York City – following every little crumb of information. “Sampson’s monthly payment would rise by nearly $1,000 when the new interest rate kicked in.