by Raphael Sassower Published: September 9,2011
Tags: Foreclosure, mortgage, Sassower
Perhaps soon enough we’d be in a position promised to Jeremiah (and repeated in Ezekiel) that the proverb “Parents have eaten sour grapes and children’s teeth are blunted” shall be replaced by an appreciation that everyone shall pay for his or her own sins. Unfortunately, we are not there yet. The housing bubble with its attendant financial [...] [...]
by Monica Mendoza Published: August 3,2011
Tags: Freddie Mac, Freedom Financial Services, mortgage, roy clennan
Mortgage Solutions of Colorado, doing business as Freedom Financial Services, has been approved as a direct seller under the Federal Home Loan Mortgage Corporation, known as Freddie Mac. The decision increases the company’s ability to provide additional financing options to consumers in a competitive marketplace, said Roy Clennan Founder and CEO of Mortgage Solutions. Freddie Mac is a [...] [...]
by Monica Mendoza Published: August 2,2011
Tags: Freedom Financial, mortgage, roy clennan
Mortgage Solutions of Colorado founder and CEO Roy Clennan is handing over day-to-day operations of his company to a newly hired president. Clennan, who founded the Colorado-based mortgage bank in 1997, had been doing both jobs of CEO and president of the company, which does business as Freedom Financial Services. “We are getting so big, I needed [...] [...]
An executive convicted of orchestrating a $3 billion fraud as chairman of one of America’s largest private mortgage companies has been sentenced to 30 years in prison. Federal prosecutors in Virginia had sought a life sentence on Thursday for Lee B. Farkas, former chairman of Florida-based Taylor Bean & Whitaker. They called the case against him [...] [...]
by Jonathan Easley Published: March 11,2011
Tags: Breakfast of Champions, Home Affordable Modification Program, mortgage
A program that has helped almost 1,000 struggling Colorado Springs homeowners renegotiate their mortgages is under threat in Congress this week, but local housing advocates say it is too important to eliminate. The initiative, the Obama administration’s Home Affordable Modification Program, has been dogged by administrative and legal problems since its inception two years ago, and [...] [...]
by Associated Press Published: October 14,2010
Tags: mortgage
Rates on 30-year mortgages fell this week to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields. Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt. As a result, the average rate for 30-year [...] [...]
by Becky Hurley Published: May 10,2010
Tags: Colorado Springs, mortgage, negative equity
Nearly 20 percent of Colorado Springs’ residential properties were in negative equity for the first quarter of this year. According CoreLogic, 30,032 properties, or 19.6 percent, fell into that category during the period. Another 9.7 percent of locally owned homes, or 14,894, were within 5 percent of being in a negative equity. However, those numbers were not enough to put [...] [...]
by Rebecca Tonn Published: March 13,2010
Tags: mortgage
Two years ago, the mortgage business nearly drowned in the torrent of the financial meltdown. The end seemed near. “We saw our (credit) conduits drying up,” said Barbara Pattee, president of Springs Mortgage Inc. “We had built up a niche of banks to do business with that went out of business.” It was 2008, and it was a [...] [...]
Mortgage rates in Colorado dropped to 4.9 percent yesterday and are likey to keep falling today, say analysts from Zillow Mortgage Marketplace. Local rates for 30-year-fixed mortgages topped 5.3 percent in early August and have been heading more or less downward ever since, according to Zillow data. Yesterday’s statewide average was slightly below the national average rate [...] [...]
by Associated Press Published: September 30,2009
Tags: default, Foreclosure, mortgage
WASHINGTON (AP) – Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again. More than 50 percent of homeowners with loans modified in the first half of last year had missed at least two months of payments a [...] [...]
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